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Relación entre encertidumbre e inversión en México: enfoque de opciones reales

Author

Listed:
  • Humberto Valencia Herrera

    (Tecnológico de Monterrey)

  • Gándara Martínez, Eduardo Enrique

    (Tecnológico de Monterrey)

Abstract

We evaluate the empirical significance of the effects of uncertainty on investment analyzing panel data for public Mexican companies in the period 1997-2007. We found ambiguous effects: the impact on investments in small and medium size companies is negative, while at large companies, the effect is positive. There is a strong positive effect of earnings on investments, and the real exchange rate has not a significant impact

Suggested Citation

  • Humberto Valencia Herrera & Gándara Martínez, Eduardo Enrique, 2009. "Relación entre encertidumbre e inversión en México: enfoque de opciones reales," Revista de Administración, Finanzas y Economía (Journal of Management, Finance and Economics), Tecnológico de Monterrey, Campus Ciudad de México, vol. 3(2), pages 74-90.
    • Handle: RePEc:ega:rafega:200911
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    File URL: http://alejandria.ccm.itesm.mx/egap/documentos/2009V3A11Valencia-Gandara.pdf
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    Cited by:

    1. Gabriela López Noria & Juan José Zamudio Fernández, 2018. "The effect of uncertainty on foreign direct investment: The case of Mexico," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 33(1), pages 117-149.

    More about this item

    Keywords

    inversión; incertidumbre; opciones reales;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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