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Agregados pétreos en Colombia: ¿una industria que crea valor?

Author

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  • Godoy, Jorge Alberto Rivera

    (Universidad del Valle)

  • Hernández, Mario Fernando Pajajoy

    (Universidad del Valle)

Abstract

Este artículo tiene como propósito conocer el desempeno financiero de la industria de agregados pétreos para la construcción en Colombia en el período 2010-2015, mediante un estudio que sigue como metodología el análisis de los indicadores contables y valor económico agregado que dan cuenta de su crecimiento, eficiencia, eficacia y efectividad. Se encuentra que esta industria crece y genera rentabilidades contables en cada uno de los anos, y el comportamiento variante de su efectividad depende principalmente de la eficacia en el control de costos y gastos; no obstante, solo en dos anos se crea valor económico agregado (EVA), y su valor de mercado agregado (VMA) es negativo. Esta industria es destructora de valor porque la rentabilidad del activo neto operacional es inferior al costo de capital en cuatro anos de los seis anos evaluados. El EVA presenta altibajos y sigue la tendencia de la rentabilidad. Los resultados encontrados podrían fortalecerse si se pudieran hacer estudios similares para grupos de empresas más homogéneos en cuanto a la edad, tamano y ubicación geográfica.

Suggested Citation

  • Godoy, Jorge Alberto Rivera & Hernández, Mario Fernando Pajajoy, 2018. "Agregados pétreos en Colombia: ¿una industria que crea valor?," Revista Tendencias, Universidad de Narino, vol. 19(2), pages 22-44, July.
    • Handle: RePEc:col:000520:018732
    DOI: 10.22267/rtend.181902.96
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    More about this item

    Keywords

    Valor económico agregado (EVA); valor de mercado agregado; desempeño financiero; indicadores financieros de eficiencia; efectividad y eficacia; inductores del EVA; industria de agregados pétreos;
    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
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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