Economía

URI permanente para esta comunidadhttp://hdl.handle.net/10906/1985

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Efecto del ciclo de efectivo sobre la rentabilidad de las firmas colombianas
(Universidad Icesi, 2006-12-01) Arcos Mora, Mauricio Alejandro
This document analyzes the relation between the efficiency of working capital management and corporate profitability for the period of 2001 through 2004. Using a regression framework, we find a strong negative relation between the number of day the company has to finance its working capital and its profitability. Thus, this paper supports the argument that shorter trade cycles would be accompanied by higher profitability levels.
Valor en Riesgo: Evaluación del desempeño de diferentes metodologías para 7 países latinoamericanos
(Universidad Icesi, 2006-08-01) Alonso Cifuentes, Julio César
This paper evaluates the performance of different parametric and semiparametric methods, as well as the historical simulation method, to estimate the nexttrading- day VaR of 7 representative portfolios for 7 different Latin American countries. It is found that there is not a single model that outperforms the others. For a 95% confident level, parametric models with EWMA and TGARCH specification to update the volatility outperforms the others. On the other hand, those models over-estimate the “true” VaR for a 99% confidence level.