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Ítem Estrategia de inversión de portafolios de TES basada en estimaciones de la tasa de redescuento del Banco de la República(Universidad Icesi, 2011-10-01) Montehermoso Jaramillo, Carlos Rodrigo; Benavides Franco, Julián; AsesorThis work aims to develop an active investment strategy to be applied to a portfolio compound of TES due July 24 2.020 (that implies to buy or sell them continuously) based on estimations of the discount rate of the “Banco de la República”. This strategy will be compared with a passive one, in which no assets rotate, and will be defined which one has the greatest yield. In the construction of the tools that will be used, monthly figures of Colombia's CPI and money were taken, from January 1996 to June 2011, and their trend, cycle, seasonality and random changes were calculated, using the classical model of time series decomposition. Models between IPC cycle and the cycle of M1 were ran, and the inverse relationship between the cycle of CPI and the cycle of M1 wasdetermined, a conclusion already validated by other authors for Colombia. Later models between the discount rate of the “Banco de la República” and the cycle of IPC were ran, where a direct relationship between them was demonstrated. Given this result, the model for the relationship discount rate of the “Banco de la Republica” = f (CPI cycle) were ran, to infer changes in the discount rate for the next month; the graph of the cycle of the PCI was also used with equal claim. Based on these forecasts, decisions about buying or selling a portfolio of TES due July 24, 2020, with original face value of $ 1,000 million, were made. The final values at market prices obtained during the period using both methods were compared with that of a portfolio with the same TES reference which title did not rotate during this period. This methodology was the "back testing" of the tools. As a main conclusion it can be emphasized that in Colombia the developed tools are useful to manage structural portfolios, as its application produces significantly higher revenues than those obtained when the portfolio is not rotated.Ítem Comparación de estrategias de inversión en el mercado de renta variable colombiano(Universidad Icesi, 2013-05-01) Daza Cortissoz, Adriana Lucía; Buenaventura Vera, Guillermo; AsesorAfter Harry Markovitz developed the fundamentals of Modern Portfolio Theory in the 50’s, many different models for passive investment strategy have been created in order to make better decisions on diversification. In this study, seven models for passive investment strategy are assessed and compared based on their application to historical data of the Colombian stock market during 2008 and 2012. As a result, the simplest models showed a better performance over complex methods that require optimization procedures. This fact questions the effectiveness of the Modern Portfolio Theory models in emergent markets such as the Colombian market.
Ítem Administración Del Dinero(Universidad Icesi, 2007-09-21) Alvarez Venegas, Luis MiguelContiene: Objetivos -- Contenidos -- Ingresos -- Los egresos -- Costos y gastos -- Costos/gastos fijos -- Costos/gastos variables -- Costo promedio -- Inversiones -- Financiación -- Unidades --Rentabilidad -- Estrategias de financiacion -- El diniero de la epresa y tu dineroÍtem Soy Mujer... y empresaria(Universidad Icesi, 2007-09-21) Franco Angel, MónicaUno de los puntos del Acuerdo Social suscrito entre la Gobernación del Valle del Cauca y la Confluencia de Organizaciones de Mujeres en el año 2004, es la GENERACION DE INGRESOS y en el proceso de trabajo e interlocución con el conjunto de organizaciones de mujeres encontrarnos que se adelantan diversas inciciativas de generación de ingresos viculadas a la economía informal y que generalmente son actividades la economía marginal, es decir que no agregan valor ni están integradas a ningún encademiento productivo que permita implementar algunas alternativas y hacer economia de escala, por ejemplo compras al por mayor, acciones colectivas mercadeo, entre otras. Con este programa de formación pretendemos entregar elementos que les permitan a las mujeres proyectar sus negocios, fortalecer sus unidades productivas y reconocer el aporte fundamental, que ellas como mujeres empresarias, realizan al desarrollo económico en la región. Igualmente orientar sobre la importancia de aporpiar información y nuevos conocimientos sobre alianzas estratégicas a nivel comercial y de crédito.