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{"references": ["Damodaran, A.(2002). Investment Valuation \u2013 Tools and Techniques for Determining the Value of Any Asset. New York: John Wiley & Sons. Massari, M., Gianfrate, G. (2004). The Valuation of Financial Companies Tools and Techniques to Value Banks, Insurance Companies and Other Financial Institutions. Wiley. Trugman, G. (2002). Understanding Business Valuation: A Practical Guide to Valuing Small to Medium-Sized Businesses. American Institute of Certified Public Accountant. Dimitrov, S. (2010). Corporate finances. Sofia: VUZF. Nenkov, D. (2005). Investments evaluation in real actives. Sofia: University of Economics. Hristorovich, N. (1993). Guide to business evaluation. Sofia: FisSis. Todorov, L. (2014). Contemporary models for business evaluation. Sofia: Nova Zvezda."]}
Given the large choice of models for evaluation of a whole enterprise, it is necessary to examine and choose the most suitable ones for valuation of non-bank microfinance institutions. The specifics of these types of companies is due to the fact that their liabilities are also source of their capital. Which complicates the calculation of their reinvestment, unlike other companies. The object of this report is to present and to justify the different methods to be used in the contemporary business practice.
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