{"id":8328,"date":"2020-04-12T09:14:58","date_gmt":"2020-04-12T09:14:58","guid":{"rendered":"https:\/\/arscorporate.com\/glossary\/"},"modified":"2021-10-06T15:08:43","modified_gmt":"2021-10-06T13:08:43","slug":"glosario-fusiones-y-adquisiciones","status":"publish","type":"page","link":"https:\/\/arscorporate.com\/es\/glosario-fusiones-y-adquisiciones\/","title":{"rendered":"Glosario"},"content":{"rendered":"[vc_row type=\u00bbfull_width_background\u00bb full_screen_row_position=\u00bbmiddle\u00bb column_margin=\u00bbdefault\u00bb equal_height=\u00bbyes\u00bb content_placement=\u00bbmiddle\u00bb column_direction=\u00bbdefault\u00bb column_direction_tablet=\u00bbdefault\u00bb column_direction_phone=\u00bbdefault\u00bb bg_color=\u00bb#ffffff\u00bb scene_position=\u00bbcenter\u00bb top_padding=\u00bb3%\u00bb bottom_padding=\u00bb1%\u00bb text_color=\u00bbdark\u00bb text_align=\u00bbleft\u00bb row_border_radius=\u00bbnone\u00bb row_border_radius_applies=\u00bbbg\u00bb id=\u00bbdiscover\u00bb overlay_strength=\u00bb0.3&#8243; gradient_direction=\u00bbleft_to_right\u00bb shape_divider_position=\u00bbbottom\u00bb bg_image_animation=\u00bbnone\u00bb shape_type=\u00bb\u00bb][vc_column column_padding=\u00bbno-extra-padding\u00bb column_padding_tablet=\u00bbinherit\u00bb column_padding_phone=\u00bbinherit\u00bb column_padding_position=\u00bball\u00bb background_color_opacity=\u00bb1&#8243; background_hover_color_opacity=\u00bb1&#8243; column_shadow=\u00bbnone\u00bb column_border_radius=\u00bbnone\u00bb column_link_target=\u00bb_self\u00bb gradient_direction=\u00bbleft_to_right\u00bb overlay_strength=\u00bb0.3&#8243; width=\u00bb1\/2&#8243; tablet_width_inherit=\u00bbdefault\u00bb tablet_text_alignment=\u00bbdefault\u00bb phone_text_alignment=\u00bbdefault\u00bb column_border_width=\u00bbnone\u00bb column_border_style=\u00bbsolid\u00bb bg_image_animation=\u00bbnone\u00bb][vc_row_inner column_margin=\u00bbdefault\u00bb column_direction=\u00bbdefault\u00bb column_direction_tablet=\u00bbdefault\u00bb column_direction_phone=\u00bbdefault\u00bb text_align=\u00bbleft\u00bb css=\u00bb.vc_custom_1504128844236{margin-right: -1px !important;}\u00bb][vc_column_inner column_padding=\u00bbno-extra-padding\u00bb column_padding_tablet=\u00bbinherit\u00bb column_padding_phone=\u00bbinherit\u00bb column_padding_position=\u00bball\u00bb background_color_opacity=\u00bb1&#8243; background_hover_color_opacity=\u00bb1&#8243; column_shadow=\u00bbnone\u00bb column_border_radius=\u00bbnone\u00bb column_link_target=\u00bb_self\u00bb gradient_direction=\u00bbleft_to_right\u00bb overlay_strength=\u00bb0.3&#8243; width=\u00bb1\/1&#8243; tablet_width_inherit=\u00bbdefault\u00bb column_border_width=\u00bbnone\u00bb column_border_style=\u00bbsolid\u00bb bg_image_animation=\u00bbnone\u00bb enable_animation=\u00bbtrue\u00bb animation=\u00bbfade-in-from-left\u00bb][nectar_highlighted_text color_type=\u00bbregular\u00bb highlight_color=\u00bb#ff1053&#8243; style=\u00bbhalf_text\u00bb]\n<h1>Glosario<\/h1>\n[\/nectar_highlighted_text][vc_column_text]\u00a0[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_padding=\u00bbno-extra-padding\u00bb column_padding_tablet=\u00bbinherit\u00bb column_padding_phone=\u00bbinherit\u00bb column_padding_position=\u00bball\u00bb background_color_opacity=\u00bb1&#8243; background_hover_color_opacity=\u00bb1&#8243; column_shadow=\u00bbnone\u00bb column_border_radius=\u00bbnone\u00bb column_link_target=\u00bb_self\u00bb gradient_direction=\u00bbleft_to_right\u00bb overlay_strength=\u00bb0.3&#8243; width=\u00bb1\/2&#8243; tablet_width_inherit=\u00bbdefault\u00bb tablet_text_alignment=\u00bbdefault\u00bb phone_text_alignment=\u00bbdefault\u00bb column_border_width=\u00bbnone\u00bb column_border_style=\u00bbsolid\u00bb bg_image_animation=\u00bbnone\u00bb offset=\u00bbvc_hidden-xs\u00bb][\/vc_column][\/vc_row][vc_row type=\u00bbfull_width_background\u00bb full_screen_row_position=\u00bbmiddle\u00bb column_margin=\u00bbdefault\u00bb column_direction=\u00bbdefault\u00bb column_direction_tablet=\u00bbdefault\u00bb column_direction_phone=\u00bbdefault\u00bb bg_color=\u00bb#ffffff\u00bb scene_position=\u00bbcenter\u00bb bottom_padding=\u00bb1%\u00bb text_color=\u00bbdark\u00bb text_align=\u00bbleft\u00bb row_border_radius=\u00bbnone\u00bb row_border_radius_applies=\u00bbbg\u00bb class=\u00bbfaq\u00bb id=\u00bbfaq\u00bb overlay_strength=\u00bb0.95&#8243; gradient_direction=\u00bbleft_to_right\u00bb shape_divider_position=\u00bbtop\u00bb bg_image_animation=\u00bbnone\u00bb parallax_bg=\u00bbtrue\u00bb parallax_bg_speed=\u00bbfast\u00bb shape_type=\u00bbtilt_alt\u00bb][vc_column column_padding=\u00bbno-extra-padding\u00bb column_padding_tablet=\u00bbinherit\u00bb column_padding_phone=\u00bbinherit\u00bb column_padding_position=\u00bball\u00bb background_color_opacity=\u00bb1&#8243; background_hover_color_opacity=\u00bb1&#8243; column_shadow=\u00bbnone\u00bb column_border_radius=\u00bbnone\u00bb column_link_target=\u00bb_self\u00bb gradient_direction=\u00bbleft_to_right\u00bb overlay_strength=\u00bb0.3&#8243; width=\u00bb1\/1&#8243; tablet_width_inherit=\u00bbdefault\u00bb tablet_text_alignment=\u00bbdefault\u00bb phone_text_alignment=\u00bbdefault\u00bb column_border_width=\u00bbnone\u00bb column_border_style=\u00bbsolid\u00bb bg_image_animation=\u00bbnone\u00bb enable_animation=\u00bbtrue\u00bb animation=\u00bbfade-in\u00bb][vc_column_text]<div class=\"cm-glossary\"><div class=\"glossary-container \"><input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"glossary_index_style\" value=\"classic\">        <div class=\"progress-indicator\" style=\"display:none\">\r\n                            <img decoding=\"async\" src=\"https:\/\/arscorporate.com\/wp-content\/plugins\/TooltipProPlus\/assets\/css\/images\/ajax-loader.gif\" alt=\"AJAX progress indicator\"\/>\r\n                    <\/div>\r\n\t\t<div class=\"glossary_top_filter\">\r\n\t\t\t<div class=\"left\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"cmtt_help glossary-search-helpitem\"\r\n\t\t\t\t\t\t     data-cmtooltip=\"The search returns the partial search for the given query from both the term title and description. So it will return the results even if the given query is part of the word in the description.\"><\/div>\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"glossary-search-label\">Search:<\/span>\r\n\t\t\t\t\t<div class=\"glossary-search-wrapper\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t<input value=\"\"\r\n\t\t\t\t\t\t       placeholder=\"Search\"\r\n\t\t\t\t\t\t       class=\"glossary-search-term \" name=\"glossary-search-term\"\r\n\t\t\t\t\t\t       id=\"glossary-search-term\"\r\n                               aria-label=\"Search\"\/>\r\n\t\t\t\t\t\t<button type=\"submit\" id=\"glossary-search\"\r\n\t\t\t\t\t\t        class=\"glossary-search button\">Search<\/button>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<a class=\"glossary-search-clear\" title=\"Clear the input\"\r\n\t\t\t\t\t   href=\"\">\r\n\t\t\t\t\t\t(clear)\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\r\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"disable_listnav\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"exact_search\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"show_search\"\r\n\t\t       value=\"1\"\/>\r\n\t\t<input type=\"hidden\" class=\"glossary-hide-terms\" name=\"glossary-hide-terms\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"glossary-hide-categories\" name=\"glossary-hide-categories\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"glossary-hide-abbrevs\" name=\"glossary-hide-abbrevs\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"glossary-hide-synonyms\" name=\"glossary-hide-synonyms\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" class=\"glossary-perpage\" name=\"glossary-perpage\"\r\n\t\t       value=\"0\"\/>\r\n\t\t<input type=\"hidden\" name=\"tooltip_language\"\r\n\t\t       value=\"\"\/>\r\n\t\t<input type=\"hidden\" name=\"language_dropdown\"\r\n\t\t       value=\"\"\/>\r\n\t\t<input type=\"hidden\" name=\"languages_for_table\"\r\n\t\t       value=\"\"\/>\r\n\t\t<div id=\"glossaryList-nav\" class=\"listNav medium\" role=\"tablist\"><\/div><ul class=\"glossaryList\" role=\"tablist\" id=\"glossaryList\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTermSet\"><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/accion-preferente\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acci\u00f3n Preferente<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acciones-comunes\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acciones Comunes<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acciones-comunes-pendientes\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acciones Comunes Pendientes<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acciones-en-circulacion-totalmente-diluidas\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acciones en Circulaci\u00f3n Totalmente Diluidas<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acciones-pro-forma-en-circulacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acciones Pro Forma en Circulaci\u00f3n<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acrecentamiento\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acrecentamiento<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/activos-identificables\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Activos Identificables<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/activos-intangibles\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Activos Intangibles<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/activos-no-operativos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Activos No Operativos<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/acuerdo-de-consultoria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Acuerdo de Consultor\u00eda<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Adquisici\u00f3n<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion-apalancada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Adquisici\u00f3n Apalancada<\/span><\/a><\/li><li class=\" ln-11\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion-apalancada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">LBO<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion-clandestina\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Adquisici\u00f3n Clandestina<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion-de-add-on\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Adquisici\u00f3n de Add-on<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/adquisicion-hostil\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Adquisici\u00f3n Hostil<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ajustes-al-valor-razonable\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ajustes al Valor Razonable<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/amalgama\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Amalgama<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/analisis-de-ratio\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">An\u00e1lisis de Ratio<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/analisis-de-sensibilidad\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">An\u00e1lisis de Sensibilidad<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ano-base\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">A\u00f1o Base<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/asesor-de-fusiones-y-adquisiciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Asesor de Fusiones y Adquisiciones<\/span><\/a><\/li><li class=\" ln-0\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/asignacion-del-precio-de-compra\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Asignaci\u00f3n del Precio de Compra<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/banco-de-negocios\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Banco de Negocios<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/banco-emisor\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Banco Emisor<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/banquero-de-inversion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Banquero de Inversi\u00f3n<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/batalla-proxy\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Batalla Proxy<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/beneficios-ajustados\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Beneficios Ajustados<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/beneficios-normalizados\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Beneficios Normalizados<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/beta-apalancada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Beta Apalancada<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/beta-no-apalancada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Beta No Apalancada<\/span><\/a><\/li><li class=\" ln-1\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/bono-basura\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Bono Basura<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/caballero-blanco\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Caballero Blanco<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/caballero-gris\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Caballero Gris<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/caballero-negro\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Caballero Negro<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/calidad-de-beneficios\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Calidad de Beneficios<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capital-de-desarrollo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capital de Desarrollo<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capital-invertido\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capital Invertido<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capital-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capital Riesgo<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capital-social-comprometido\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capital Social Comprometido<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capitalizacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capitalizaci\u00f3n<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/capitalizacion-de-ganancias\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Capitalizaci\u00f3n  de Ganancias<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/cargos-por-reestructuracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Cargos por Reestructuraci\u00f3n<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/carta-de-intenciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Carta de Intenciones<\/span><\/a><\/li><li class=\" ln-11\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/carta-de-intenciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">LOI<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/carve-out\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Carve Out<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/carve-out-de-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Carve Out de capital<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/cesta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Cesta<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ciclo-economico\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ciclo Econ\u00f3mico<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/clausula-de-no-competencia\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Cl\u00e1usula de No Competencia<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/comerciabilidad\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Comerciabilidad<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/compania\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Compa\u00f1\u00eda<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/comprador\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Comprador<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/comprador-estrategico\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Comprador Estrat\u00e9gico<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/comprador-financiero\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Comprador Financiero<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/compradores-de-interes-especial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Compradores de inter\u00e9s especial<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/compraventa-de-acciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Compraventa de Acciones<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/compraventa-de-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Compraventa de Activos<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/consideracion-de-acciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Consideraci\u00f3n de Acciones<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/consideracion-de-efectivo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Consideraci\u00f3n de Efectivo<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/control-mayoritario\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Control Mayoritario<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/coste-de-reemplazo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Coste de Reemplazo<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/coste-promedio-ponderado-del-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Coste Promedio Ponderado del Capital<\/span><\/a><\/li><li class=\" ln-22\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/coste-promedio-ponderado-del-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">WACC<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/costo-de-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Costo de Capital<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/costo-de-financiacion-diferido\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Costo de Financiaci\u00f3n Diferido<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/cuaderno-de-venta-confidencial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Cuaderno de Venta Confidencial<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/cuaderno-de-venta-confidencial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">CIM<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/defensa-de-las-joyas-de-la-corona\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Defensa de las Joyas de la Corona<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/defensa-del-caballero-blanco\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Defensa del Caballero Blanco<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/defensa-del-escudero-blanco\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Defensa del Escudero Blanco<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/defensa-pac-man\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Defensa Pac Man<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/derecho-de-acompanamiento\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Derecho de Acompa\u00f1amiento<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/derecho-de-arrastre\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Derecho de Arrastre<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-de-cartera\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento de Cartera<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-del-minoritario\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento del Minoritario<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-en-la-emision-de-acciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento en la Emisi\u00f3n de Acciones<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-por-bloqueo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento por Bloqueo<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-por-falta-de-comerciabilidad\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento por Falta de Comerciabilidad<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-por-falta-de-control\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento por Falta de Control<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-por-falta-de-derecho-a-voto\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento por Falta de Derecho a Voto<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/descuento-por-persona-clave\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Descuento por Persona Clave<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/desinversion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Desinversi\u00f3n<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/deuda-neta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Deuda Neta<\/span><\/a><\/li><li class=\" ln-3\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/dilucion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Diluci\u00f3n<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/economias-de-alcance\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Econom\u00edas de Alcance<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/economias-de-escala\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Econom\u00edas de Escala<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/efecto-bootstrap\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Efecto Bootstrap<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/empresa-adquirida\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Empresa Adquirida<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/empresa-conjunta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Empresa Conjunta<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/empresa-de-cartera\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Empresa de Cartera<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/empresa-plataforma\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Empresa Plataforma<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enfoque-basado-en-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enfoque Basado en Activos<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enfoque-basado-en-el-costo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enfoque Basado en el Costo<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enfoque-basado-en-ingresos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enfoque Basado en Ingresos<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enfoque-de-mercado\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enfoque de Mercado<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enfoque-de-valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enfoque de Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/enmienda-de-supermayoria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Enmienda de Supermayor\u00eda<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/escision\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Escisi\u00f3n<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/escision-por-acuerdo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Escisi\u00f3n por Acuerdo<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estado-de-flujo-de-caja\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estado de Flujo de Caja<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estandar-de-valor\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Est\u00e1ndar de Valor<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estrategia-de-paracaidas-de-oro\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estrategia de Paraca\u00eddas de Oro<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estrategia-de-pildora-venenosa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estrategia de P\u00edldora Venenosa<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estrategia-pac-man\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estrategia Pac-Man<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estructura-de-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estructura de Capital<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/estructura-del-acuerdo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Estructura del Acuerdo<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/exceso-de-beneficios\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Exceso de Beneficios<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/factor-de-capitalizacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Factor de Capitalizaci\u00f3n<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fecha-de-cierre\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fecha de Cierre<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fecha-de-valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fecha de Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fecha-del-informe\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fecha del Informe<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/filial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Filial<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/firma-de-capital-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Firma de Capital Riesgo<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-beneficios\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Beneficios<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-caja\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Caja<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-caja-del-accionista\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Caja del Accionista<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-caja-libre\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Caja Libre<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-caja-neto\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Caja Neto<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/flujo-de-caja-netos-de-capital-invertido\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Flujo de Caja Netos de Capital Invertido<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fondo-de-busqueda\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fondo de B\u00fasqueda<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fondo-de-capital-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fondo de Capital Riesgo<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fondo-de-comercio\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fondo de Comercio<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fondo-de-maniobra\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fondo de Maniobra<\/span><\/a><\/li><li class=\" ln-22\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fondo-de-maniobra\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">WC<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-amistosa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Amistosa<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-circular\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Circular<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-de-conglomerados\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n de conglomerados<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-defensiva\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Defensiva<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-estatutaria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Estatutaria<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-horizontal\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Horizontal<\/span><\/a><\/li><li class=\" ln-5\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/fusion-vertical\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Fusi\u00f3n Vertical<\/span><\/a><\/li><li class=\" ln-6\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ganancias-pro-forma-por-accion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ganancias Pro Forma por Acci\u00f3n<\/span><\/a><\/li><li class=\" ln-6\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/gasto-en-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Gasto en Capital<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/gasto-en-capital\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">CAPEX<\/span><\/a><\/li><li class=\" ln-6\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/grupo-de-capital-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Grupo de Capital Riesgo<\/span><\/a><\/li><li class=\" ln-7\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/holding\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Holding<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/integracion-horizontal\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Integraci\u00f3n Horizontal<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/integracion-vertical\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Integraci\u00f3n Vertical<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/integracion-vertical-hacia-atras\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Integraci\u00f3n Vertical Hacia Atr\u00e1s<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/integracion-vertical-hacia-delante\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Integraci\u00f3n Vertical Hacia Delante<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/interes-mayoritario\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Inter\u00e9s Mayoritario<\/span><\/a><\/li><li class=\" ln-8\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/inversor-angel\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Inversor \u00c1ngel<\/span><\/a><\/li><li class=\" ln-9\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/joyas-de-la-corona\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Joyas de la Corona<\/span><\/a><\/li><li class=\" ln-11\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/liquidacion-voluntaria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Liquidaci\u00f3n Voluntaria<\/span><\/a><\/li><li class=\" ln-11\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/liquidez\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Liquidez<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/manipulacion-de-la-compensacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Manipulaci\u00f3n de la Compensaci\u00f3n<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/mejoras-en-ingresos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Mejoras en Ingresos<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/mercado-medio-bajo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Mercado Medio Bajo<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/metodo-de-valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">M\u00e9todo de Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/metodo-del-exceso-de-beneficios\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">M\u00e9todo del Exceso de Beneficios<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/modelo-de-valoracion-de-activos-financieros\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Modelo de Valoraci\u00f3n de Activos Financieros<\/span><\/a><\/li><li class=\" ln-2\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/modelo-de-valoracion-de-activos-financieros\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">CAPM<\/span><\/a><\/li><li class=\" ln-12\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/multiplo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">M\u00faltiplo<\/span><\/a><\/li><li class=\" ln-13\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/norma-de-oferta-obligatoria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Norma de Oferta Obligatoria<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-competitiva\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Oferta Competitiva<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-de-padrino\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Oferta de padrino<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-obligatoria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Oferta Obligatoria<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-parcial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Oferta Parcial<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-publica-de-adquisicion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Oferta P\u00fablica de Adquisici\u00f3n<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/oferta-publica-de-adquisicion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">OPA<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/opa-amistosa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">OPA Amistosa<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/operaciones-continuas\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Operaciones Continuas<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/operaciones-discontinuadas\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Operaciones Discontinuadas<\/span><\/a><\/li><li class=\" ln-14\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/otros-costes-de-cierre\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Otros Costes de Cierre<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/paracaidas-de-oro\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Paraca\u00eddas de Oro<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/participacion-minoritaria\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Participaci\u00f3n Minoritaria<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/participaciones-entrelazadas\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Participaciones Entrelazadas<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/perfil-ciego\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Perfil Ciego<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/pildora-suicida\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">P\u00edldora Suicida<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/pildora-venenosa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">P\u00edldora Venenosa<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/plan-de-propiedad-de-acciones-para-empleados\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Plan de Propiedad de Acciones para Empleados<\/span><\/a><\/li><li class=\" ln-4\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/plan-de-propiedad-de-acciones-para-empleados\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">ESOP<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/plan-de-salida\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Plan de Salida<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/plazo-de-sinergias\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Plazo de Sinergias<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/politica-de-tierra-quemada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Pol\u00edtica de Tierra Quemada<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-de-conversion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Precio de Conversi\u00f3n<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-de-ejercicio\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Precio de Ejercicio<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-de-oferta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Precio de Oferta<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-de-venta-mas-probable\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Precio de Venta M\u00e1s Probable<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-medio-ponderado-por-volumen\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Precio Medio Ponderado por Volumen<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/precio-medio-ponderado-por-volumen\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">VWAP<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/premisa-de-valor\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Premisa de Valor<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prestamo-con-base-en-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Pr\u00e9stamo con Base en Activos<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prestamo-de-flujo-de-caja\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Pr\u00e9stamo de Flujo de Caja<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prima-de-adquisicion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Prima de Adquisici\u00f3n<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prima-de-control\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Prima de Control<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prima-de-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Prima de Riesgo<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prima-de-riesgo-de-acciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Prima de Riesgo de Acciones<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/prima-por-toma-de-control\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Prima por Toma de Control<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/principio-de-sustitucion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Principio de Sustituci\u00f3n<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/procedimiento-de-valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Procedimiento de Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-15\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/put-venenoso\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Put Venenoso<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ratio-de-capitalizacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ratio de Capitalizaci\u00f3n<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ratio-de-swap\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ratio de Swap<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ratio-de-valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ratio de Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/ratio-planta-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Ratio Planta\/Activos<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/recapitalizacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Recapitalizaci\u00f3n<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/reconstruccion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Reconstrucci\u00f3n<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/regla-de-discrecionalidad-empresarial\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Regla de Discrecionalidad Empresarial<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/regla-general\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Regla general<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/reinversion-de-capital-sostenida\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Reinversi\u00f3n de Capital Sostenida<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/relacion-de-canje\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Relaci\u00f3n de Canje<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/requisito-de-exclusividad\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Requisito de Exclusividad<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/riesgo-de-inversion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Riesgo de Inversi\u00f3n<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/riesgo-no-sistematico\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Riesgo No Sistem\u00e1tico<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/riesgo-sistematico\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Riesgo Sistem\u00e1tico<\/span><\/a><\/li><li class=\" ln-17\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/roll-up\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Roll Up<\/span><\/a><\/li><li class=\" ln-18\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/sinergias\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Sinergias<\/span><\/a><\/li><li class=\" ln-18\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/sobreprecio-de-compra\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Sobreprecio de Compra<\/span><\/a><\/li><li class=\" ln-18\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/sucesion-familiar\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Sucesi\u00f3n Familiar<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tasa-de-descuento\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tasa de Descuento<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tasa-de-rentabilidad\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tasa de Rentabilidad<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tasa-libre-de-riesgo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tasa Libre de Riesgo<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tasas-de-emision-de-acciones\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tasas de Emisi\u00f3n de Acciones<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tasas-de-emision-de-deuda\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tasas de Emisi\u00f3n de Deuda<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/tenencia-conjunta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tenencia conjunta<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/test-acido\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Test \u00c1cido<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/toma-de-control\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Toma de Control<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/trafico-de-informacion-privilegiada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Tr\u00e1fico de Informaci\u00f3n Privilegiada<\/span><\/a><\/li><li class=\" ln-19\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/trato-de-efectivo-neto-deuda-neta\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Trato de Efectivo Neto\/ Deuda Neta<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-contable\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Contable<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-contable-ajustado\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Contable Ajustado<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-contable-neto-de-los-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Contable Neto de los Activos<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-empresa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Empresa<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-empresa-en-activo\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Empresa en Activo<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-inversion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Inversi\u00f3n<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-liquidacion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Liquidaci\u00f3n<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-liquidacion-forzosa\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Liquidaci\u00f3n Forzosa<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-de-liquidacion-ordenada\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor de Liquidaci\u00f3n Ordenada<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-del-fondo-de-comercio\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor del Fondo de Comercio<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-intrinseco\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Intr\u00ednseco<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-neto-contable\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Neto Contable<\/span><\/a><\/li><li class=\" ln-13\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-neto-contable\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">NBV<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-neto-de-los-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Neto de los Activos<\/span><\/a><\/li><li class=\" ln-13\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-neto-de-los-activos\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">NAV<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-neto-de-los-activos-tangibles\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Neto de los Activos Tangibles<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-nominal\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Nominal<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-razonable-de-mercado\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Razonable de Mercado<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-residual\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Residual<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valor-terminal\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valor Terminal<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valoracion\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valoraci\u00f3n<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valoracion-post-money\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valoraci\u00f3n Post-Money<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/valoracion-pre-money\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Valoraci\u00f3n Pre-Money<\/span><\/a><\/li><li class=\" ln-21\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/vida-economica\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Vida Econ\u00f3mica<\/span><\/a><\/li><li class=\" ln-22\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/arscorporate.com\/es\/glosario\/warrant\/\"  role=\"term\" class=\"glossaryLinkMain \"   style=\"\"   itemprop=\"url\" ><span itemprop=\"name\">Warrant<\/span><\/a><\/li><\/ul><\/div><\/div>[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=\u00bbin_container\u00bb full_screen_row_position=\u00bbmiddle\u00bb column_margin=\u00bbdefault\u00bb column_direction=\u00bbdefault\u00bb column_direction_tablet=\u00bbdefault\u00bb column_direction_phone=\u00bbdefault\u00bb scene_position=\u00bbcenter\u00bb text_color=\u00bbdark\u00bb text_align=\u00bbleft\u00bb row_border_radius=\u00bbnone\u00bb row_border_radius_applies=\u00bbbg\u00bb overlay_strength=\u00bb0.3&#8243; gradient_direction=\u00bbleft_to_right\u00bb shape_divider_position=\u00bbbottom\u00bb bg_image_animation=\u00bbnone\u00bb][vc_column column_padding=\u00bbno-extra-padding\u00bb column_padding_tablet=\u00bbinherit\u00bb column_padding_phone=\u00bbinherit\u00bb column_padding_position=\u00bball\u00bb background_color_opacity=\u00bb1&#8243; background_hover_color_opacity=\u00bb1&#8243; column_shadow=\u00bbnone\u00bb column_border_radius=\u00bbnone\u00bb column_link_target=\u00bb_self\u00bb gradient_direction=\u00bbleft_to_right\u00bb overlay_strength=\u00bb0.3&#8243; width=\u00bb1\/1&#8243; tablet_width_inherit=\u00bbdefault\u00bb tablet_text_alignment=\u00bbdefault\u00bb phone_text_alignment=\u00bbdefault\u00bb column_border_width=\u00bbnone\u00bb column_border_style=\u00bbsolid\u00bb bg_image_animation=\u00bbnone\u00bb][divider line_type=\u00bbNo Line\u00bb][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=\u00bbfull_width_background\u00bb full_screen_row_position=\u00bbmiddle\u00bb column_margin=\u00bbdefault\u00bb equal_height=\u00bbyes\u00bb content_placement=\u00bbmiddle\u00bb column_direction=\u00bbdefault\u00bb column_direction_tablet=\u00bbdefault\u00bb column_direction_phone=\u00bbdefault\u00bb bg_color=\u00bb#ffffff\u00bb scene_position=\u00bbcenter\u00bb top_padding=\u00bb3%\u00bb bottom_padding=\u00bb1%\u00bb text_color=\u00bbdark\u00bb text_align=\u00bbleft\u00bb row_border_radius=\u00bbnone\u00bb row_border_radius_applies=\u00bbbg\u00bb id=\u00bbdiscover\u00bb overlay_strength=\u00bb0.3&#8243; gradient_direction=\u00bbleft_to_right\u00bb&#8230;<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-8328","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/pages\/8328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/comments?post=8328"}],"version-history":[{"count":1,"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/pages\/8328\/revisions"}],"predecessor-version":[{"id":20479,"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/pages\/8328\/revisions\/20479"}],"wp:attachment":[{"href":"https:\/\/arscorporate.com\/es\/wp-json\/wp\/v2\/media?parent=8328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}