Advanced Search
MyIDEAS: Login

Estimación del Riesgo de crédito para empresas del sector real en Colombia

Contents:

Author Info

  • Claudia Sepúlveda Rivillas

    ()

  • Walter Reina Gutiérrez

    ()

  • Juan Carlos Gutiérrez Betancur

    ()

Abstract

Resumen:El objetivo de la presente investigación es proponer un modelo probit para datos de panel desbalanceado con efectos aleatorios que permita estimar la probabilidad de quiebra de las empresas del sector real en Colombia, para inferir del riesgo de crédito, tomando información de empresas solventes y en estrés financiero, de las bases de datos de la Superintendencia de Sociedades y B.P.R, durante 2002-2008. Se partió del análisis fundamental, centrado en los indicadores de rentabilidad, apalancamiento, liquidez y solvencia, que propone Penman (2010). El aporte de esta investigación es el énfasis en los apalancamientos operativo y financiero y su efecto en la probabilidad de quiebra. Como principal hallazgo se resalta el efecto menos nocivo del apalancamiento operativo frente al impacto del apalancamiento financiero en épocas de crisis.Abstract:The objective of this research is to proposed a Probit Model for unbalanced panel data with random effects to estimate the probability of bankruptcy in the real sector firms in Colombia, to infer of credit risk of solvent and in financial distress firms, taking information from solvent companies and financial stress, the databases of the Superintendency of Companies, and BPR, since 2002-2008. Was based on the fundamental analysis, focusing on indicators of profitability, leverage, liquidity and solvency proposed by Penman (2010). The contribution of this research is the emphasis on operating and financial leverage and its effect on the probability of bankruptcy. Like main finding is highlights the less harmful effect of operating leverage in front the impact of financial leverage in times of crisis.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://repository.eafit.edu.co/bitstream/10784/729/1/2012_25_Juan_Carlos_Gutierrez.pdf
Download Restriction: no

Bibliographic Info

Paper provided by UNIVERSIDAD EAFIT in its series DOCUMENTOS DE TRABAJO CIEF with number 010715.

as in new window
Length: 32
Date of creation: 11 Dec 2012
Date of revision:
Handle: RePEc:col:000122:010715

Contact details of provider:

Related research

Keywords: Apalancamiento operativo y financiero; probabilidad de quiebra; panel de datos desbalanceado; Operating and financial leverage; bankruptcy likelihood; unbalanced panel data.;

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:col:000122:010715. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Centro de Investigaciones Económicas y Financieras (CIEF)).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.