Examinando por Materia "ENDEUDAMIENTO"

Mostrando 1 - 8 de 8
  • Miniatura
    PublicaciónAcceso abierto
    Analyzing inflation: Measurement problems and trends
    (2014-05-15) Ardila-Restrepo, H. J. (Hermilson de Jesús); Lochmüller, C. (Christian); Peña-Palacio, J. A. (Juan Alejandro)
    As a consequence of the crisis of 2007/2008, which started in the United States of America within the financial sector and which then spread to the real sector, the governments of several countries had to bail out financial institutions and companies. Central banks, especially in the U.S. and Europe injected liquidity in large volumes into the markets in order to stabilize the financial sector, a process which might produce higher inflation. This article discusses how inflation is measured and found that the measurement does not include adequately the development of prices of financial assets. Furthermore, it discussed that money supply should include loans, as credit serves as money and has an impact on inflation. One of the main conclusions is that there is a real possibility that inflation rates will increase in the medium term future.
  • Miniatura
    PublicaciónAcceso abierto
    Aplicación del análisis discriminante para evaluar el mejoramiento de los indicadores financieros en las empresas del sector extracción de petróleo crudo y gas natural en Colombia
    (2014-05-14) Fontalvo-Herrera, T. (Tomás); Hoz-Granadillo, E. (Efraín de la); Morelos-Gómez, J. (José)
    This research paper presents the results obtained during the project implementation of Discriminant Analysis to evaluate the improvement of financial indicators in the companies extracting crude oil and natural gas in Colombia that was initially a detailed description evaluation of organizational systems, the financial indicators, indicators of liquidity and debt ratios, Discriminant Analysis concepts in the evaluation of the impact of financial indicators in the companies extracting crude oil and natural gas Colombia. What allowed through a qualitative perspective, proposals and qualitative, descriptive analysis of indicators that best discriminated as a result of the evaluation of the indicators in 2004 and 2009 in the objective function so you can identify which variables to monitor for examine companies.
  • Miniatura
    PublicaciónAcceso abierto
    Desviación respecto al óptimo teórico de la estructura de capital de la empresa tipo del sector fabricación de prendas de vestir en Colombia
    (2014-05-13) Bernal-Rodríguez, D. F. (David Fernando); Corrales-Torres, M. A. (Mauricio Alberto)
    The main financial objective of a company must be focused on creating value for its investors, ensuring the efficient use of resource capital through the financing decision, which is achieved by ensuring that the return on investments is greater than the cost incurred to finance decisions. Similarly, companies in developing its objects are to carry out investments in financial or production assets, which are funded either from others or their shareholders, this form of financing is called capital structure. In this regard, it is natural for companies to be formed to create value in the development of its objects, however, additional to the value generated in the operation, financial management companies must direct efforts to add value to this creation of operational business of value through the optimization of the way they finance their investment decisions (optimal capital structure). This last objective is that the approach developed in this work, aiming, through the study of the current structure of an industry, in our case the field of garment manufacturing in Colombia, show that by making changes in the structure of capital generated additional value generated in the operation of the business.
  • Miniatura
    PublicaciónAcceso abierto
    Desviación respecto al óptimo teórico de la estructura de capital de las grandes empresas del sector químico colombiano
    (2014-05-13) Marulanda-Velásquez, A. C. (Adriana Cecilia); Sepúlveda-Tamayo, J. A. (Jesús Albeiro)
    This work shows the deviation of the capital structure of companies in the Colombian chemical sector of manufacture of paints, varnishes and similar coatings, printing inks and mastics for 2008 compared to the optimum capital structure built for a company type in this sector. The term “company type’’ refers to a company structured with consolidated financial statements of the most representative companies in this sector, belonging to the sample selected for this analysis. To achieve this goal, we use a business valuation model and develop a model to qualify the credit risk that provide the basis to determine the optimum capital structure for different scenarios and the dispersion of the selected companies compared with it. These results are accompanied by an analysis to find the relationship of leverage with some of the determinants of capital structure.
  • Miniatura
    PublicaciónAcceso abierto
    Desviación respecto al óptimo teórico de la estructura de capital del sector de generación eléctrica colombiano
    (2014-05-13) Uribe-Mejía, A. (Andrés); Velásquez-Alviar, J. C. (Juan Carlos)
    This paper is based on the study and analysis done (with data as of December 2008) in order to determine the actual dispersion that exists between Colombian power generation companies and the industry in terms of the optimal capital structure. It is based on the financial statements and supplementary data for eight companies that account for almost 79% of the power generation capacity of Colombia’s interconnected system. The Industry’s financial statements used to calculate optimal capital structure are the result of the aggregated financial reports from the eight companies. Some of the companies include: thermoelectric, hydroelectric, public companies, private companies and companies with different debt levels. The results from this study are really important for the country, since it allows the entrepreneurs and business managers to have a useful tool in the financing decision making process for the Colombian power generation industry, that along with their own developed financial models will help them lo identify different options to get an optimal capital structure that will result in a higher market value for the company. This work arises from a lack of research and public studies for the power generation sector in Colombia from the financial point of view and more specifically from the point of view of debt and optimal capital structure.
  • Miniatura
    PublicaciónAcceso abierto
    Una estructura eficiente de capital para la Empresa de Telecomunicaciones de Bogotá (ETB)
    (2014-05-14) Chica-Patiño, A. P. (Andrea Patricia); Vélez-Álvarez, J. A. (Jairo Andrés)
    Within the corporate management, financing decisión have special preponderance always focused on achieving the best value at less cost. For ETB, finding the capital strcutre is of vital importance in times when the constant and rapid technological advances and market entry of new and larger competitor make telecommunications a constant battlefield where become incresingly necessary the versatility and optimization of money by the company to ensure its permanence and leadsership.
  • Miniatura
    PublicaciónAcceso abierto
    Factibilidad de una estructura eficiente de capital para Biomax Biocombustibles S. A.
    (2014-05-14) Palacio-Ojalvo, S. (Sebastián); Zapata-Villegas, J. C. (Juan Camilo)
    In this paper we exhibit the necessary elements to prove the existence of an efficient capital structure for Biocombustibles S. A., the reader is contextualized with a short description of the company and a brief description of financial theory on a capital structure. Then analuses the historical financial structure of the company and presents the valuation model, primarly throught the projection results.
  • Miniatura
    PublicaciónAcceso abierto
    El Riesgo del endeudamiento: La Crisis de la Deuda Soberana y posibles implicaciones
    (2014-05-14) Ardila-Restrepo, H. J. (Hermilson de Jesús); Lochmüller, C. (Christian); Peña-Palacio, J. A. (Juan Alejandro); Márquez-Godoy, J. I. (Jose Ignacio)
    Due to the global financial crisis unleashed between 2007 and 2008 and which quickly spread to the real sector, many governments did come out to rescue banks, significantly increasing their debt levels and, in particular, debt sovereign. Thus, many countries have reached unsustainable levels of debt, so that central banks injected liquidity to markets and expanded its balance sheet to buy assets of countries and companies in crisis, in order to ensure the smooth functioning of financial system. That is why in this article provides an analysis of the levels of borrowing countries as a result of this process, and presents a series of reflections about the impacts and the consequences that these may have in the short and medium term, especially in predicting the magnitude of these impacts.