Abstract

The present work has the objective of analyzing what generates or maximizes the market value of the financial groups listed on the Mexican Stock Exchange (BMV), given an increase in either growth or profitability. For this, the terminal value or perpetuity developed by Gordon and Shapiro is considered and used in the valuation methodology for discounted dividend flows, as well as financial information for the period 2014 to 2018. In addition, the analysis proposed by Mass is applied to assess the potential for growth and yield. It is determined that the value generated by the growth is greater than that obtained by the increase in profitability in the five financial institutions analyzed. The results would still imply that potential growth exists, that the financial institutions are not yet fully mature or developed and/or not operate in a mature or developed market, so that Fintech strategies to promote growth would be better valued by the market.

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