El objetivo del artículo fue analizar los cambios en los determinantes del precio de la vivienda en Bucaramanga, en 2005 y 2012, luego de la implementación del sistema de transporte público Metrolínea. Para el análisis, se utilizó el método de precios hedónicos, que explica cómo el conjunto de características convencionales y atributos del entorno de las viviendas influyen en la disposición a pagar de los consumidores. Los resultados sugieren que las características del inmueble y los atributos convencionales, como estrato, tipo de vivienda y tenencia de garaje, tienen mayor relevancia que los atributos de calidad ambiental. Asimismo, se evidencia un cambio en la significancia en algunas variables de un periodo a otro, lo cual supone la existencia de nuevas variables que pueden explicar el comportamiento de los precios de la vivienda y que podrían estar relacionadas con la puesta en marcha del nuevo sistema de transporte público.

Traditional business companies and startups are decidedly different organizations. Each has what the other lacks. Traditional business company has the resources, scale, power and routines needed to execute a proven business model efficiently. Startup has none of that, but usually has promising ideas, organizational agility, willingness to take risks, and fast-growing aspirations. Considering the above introduced considerations, the aim and contribution of this paper is to make a comparative analysis between traditional business companies and startups.

In recent years, business valuation models have evolved from a set of complex methods to an essential tool for valuing financial assets and real assets. In the case of real assets, the precision of the analysis is based on the existence of perfect, efficient, and complete markets, since through them, it is possible to replicate the risk involved and estimate the behavior of the variables to be studied. However, these conditions are weaknesses in certain real assets, such as startups. These companies, in their early stages of life, have a low level of income, negative cash flow and limited information about future economic and financial performance. This study aims to contribute to the literature, mainly in the financial area related to the valuation of startup companies. It is evident that there are few authors who propose a particular methodology for the valuation of this type of company, since in a significant number of cases, the traditional methods are not applicable due to the insufficient or little financial and market information of companies of this type.