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Rentabilidad y creación de valor para los accionistas de las empresas españolas y del IBEX 35. 1993-2005


  • Fernandez, Pablo

    () (IESE Business School)

  • Martinez, Jon

    (IESE Business School)


En este documento se analiza la evolución del IBEX y de las 72 empresas españolas que cotizaron en bolsa (en el mercado continuo) desde diciembre de 1992 hasta diciembre de 2005. Los apartados del documento son: 1. El IBEX 35. Rentabilidad y creación de valor para los accionistas. 2. Nivel del IBEX 35 necesario para obtener la rentabilidad exigida por los accionistas. 3. Entradas y salidas del IBEX 35. 4. Creación de valor de 72 empresas españolas. 4.1. Aumento del valor para los accionistas. 4.2. Rentabilidad para los accionistas. 4.3. Creación de valor. 4.4. Mayor crecimiento de las empresas grandes hasta el año 2000. 5. Relación de la rentabilidad para los accionistas con el tamaño de las empresas. 6. Relación de la rentabilidad para los accionistas con la rentabilidad del año anterior. 7. Rentabilidad y volatilidad. 8. El ROE no es la rentabilidad para los accionistas. 9. Creación de valor y rentabilidad para los accionistas en 2004. 10. Crisis bursátiles históricas y plazos de recuperación.

Suggested Citation

  • Fernandez, Pablo & Martinez, Jon, 2006. "Rentabilidad y creación de valor para los accionistas de las empresas españolas y del IBEX 35. 1993-2005," IESE Research Papers D/617, IESE Business School.
  • Handle: RePEc:ebg:iesewp:d-0617

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    References listed on IDEAS

    1. Rosenfeld, Stuart A., 1996. "Does cooperation enhance competitiveness? Assessing the impacts of inter-firm collaboration," Research Policy, Elsevier, vol. 25(2), pages 247-263, March.
    2. Leiponen, Aija, 2005. "Skills and innovation," International Journal of Industrial Organization, Elsevier, vol. 23(5-6), pages 303-323, June.
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    More about this item


    Rentabilidad; creación de valor; creación valor para accionistas; IBEX 35;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • 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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