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Modelos de cálculo de las betas a aplicar en el Capital Asset Pricing Model: el caso de Argentina

Author

Listed:
  • Carlos E. Martínez
  • Juan S. Ledesma
  • Alfredo O. Russo

Abstract

Producto de una revisión de la literatura, en el presente trabajo se aplican 4 métodos para el cálculo de las betas de una muestra de 11 companías que entre 2010 y 2012 cotizaron en el Mercado de Valores de Argentina. Empleando cada método, se identifica aquel que puede ser tomado como referencia para determinar las betas de pequenas y medianas empresas (Pymes) que no cotizan en la Bolsa de Valores. Se concluye que para calcular los valores de las betas e interpretar el riesgo de cada empresa resulta necesario analizar técnicamente el método utilizado y la variabilidad de las series temporales empleadas, además de conocer las perspectivas futuras tanto de la empresa analizada como del sector al cual pertenece.

Suggested Citation

  • Carlos E. Martínez & Juan S. Ledesma & Alfredo O. Russo, 2014. "Modelos de cálculo de las betas a aplicar en el Capital Asset Pricing Model: el caso de Argentina," Estudios Gerenciales, Universidad Icesi, June.
    • Handle: RePEc:col:000129:011919
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    File URL: http://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/1799
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    Cited by:

    1. Rodríguez Batres, Axel & Flores Sánchez, Edgar Mauricio & Flores Delgado, Javier Antonio, 2019. "Risk assessment for micro companies belonging to selected branches of the non-financial private services sector in Mexico through the Beta coefficient," MPRA Paper 94039, University Library of Munich, Germany.

    More about this item

    Keywords

    Beta; Modelo de valoración de activos de capital; Apalancamiento; Pymes; Mercado de valores;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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