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Ganancias cambiarias en empresas mexicanas y variables fundamentales y económicas

Author

Listed:
  • José Antonio Morales Castro

    (Instituto Politécnico Nacional, México)

  • Francisco López-Herrera

    (Universidad Nacional Autónoma de México, México)

Abstract

El objetivo de este artículo de investigación es mostrar la evidencia de la influencia de variables económicas y fundamentales de empresa sobre las ganancias cambiarias derivadas de los descalces de moneda extranjera. Mediante modelos para datos en panel, se analizan datos trimestrales de 84 empresas mexicanas durante el periodo 1990-2018. Los resultados muestran que el dólar estadunidense y el PIB, así como seis de las variables fundamentales son significativas, cuatro de éstas últimas estudiadas por primera vez. Se recomienda considerar estas variables pues pueden ser útiles para orientar la toma de decisiones y el diseño de estrategias de operación, inversión y financiamiento para evitar pérdidas cambiarias. Obviamente, el alcance general de este estudio limita su aplicabilidad directa a casos particulares, haciendo necesario analizar la situación específica partiendo de los hallazgos aquí reportados. Se concluye que las ganancias cambiarias reflejan aspectos relevantes de la economía, así como la importancia de las decisiones administrativas.

Suggested Citation

  • José Antonio Morales Castro & Francisco López-Herrera, 2021. "Ganancias cambiarias en empresas mexicanas y variables fundamentales y económicas," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 16(2), pages 1-21, Abril - J.
    • Handle: RePEc:imx:journl:v:16:y:2021:i:2:a:3
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    References listed on IDEAS

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    More about this item

    Keywords

    ganancias (pérdidas) cambiarias; descalces cambiarios; descalces monetarios; variables fundamentales;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • 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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