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Rentabilidad y creación de valor de las empresas españolas en 2006 (y en el periodo 1993-2006)

Listed author(s):
  • Fernandez, Pablo


    (IESE Business School)

  • Carabias, Jose M.

    (IESE Business School)

En 2006, Banco Santander fue -entre las 123 empresas que cotizaron en el mercado continuo- la que más valor creó para sus accionistas, seguida de Endesa, Telefónica, Arcelor, BBVA e Iberdrola. Veintiuna empresas destruyeron valor, siendo EADS la que más valor destruyó. La empresa más rentable para sus accionistas en 2006 fue Inmocaral (en 2005 fue Sniace). Sólo doce empresas tuvieron una rentabilidad negativa para sus accionistas, y 64 de las 123 proporcionaron una rentabilidad inferior a la del IBEX 35 (36%). 107 empresas proporcionaron a sus accionistas una rentabilidad superior a la de los bonos del Estado. Las diez mayores empresas supusieron el 57% de la capitalización total. Las 37 empresas más pequeñas sólo representaron el 1% de la capitalización total. En los años 1994, 1997-1998, 2000-2006, y en el promedio del período 1992-2006, las empresas pequeñas fueron más rentables que las grandes.

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Paper provided by IESE Business School in its series IESE Research Papers with number D/676.

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Length: 22 pages
Date of creation: 17 Feb 2007
Handle: RePEc:ebg:iesewp:d-0676
Contact details of provider: Postal:
IESE Business School, Av Pearson 21, 08034 Barcelona, SPAIN

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