Macro- and microeconomic variables affecting the estimated cost of capital: a case study

Variables macroeconómicas y microeconómicas que influyen en la estimación del costo de capital: un estudio de caso;
Variáveis macroeconômicas e microeconômicas que influenciam a estimativa do custo de capital: um estudo de caso

dc.creatorCardona Echeverri, Daniel
dc.creatorGaitán Riaño, Sandra
dc.creatorVelásquez Ceballos, Hermilson
dc.date2016-12-06
dc.identifierhttps://revistas.unimilitar.edu.co/index.php/rfce/article/view/2657
dc.identifier10.18359/rfce.2657
dc.descriptionThis article identifies and contrasts the statistical significance of macroeconomic and microeconomic variables, which can influence the cost of capital from theory. Using information from companies listed on the Colombia Stock Exchange (BVC) between the periods 2003-4 and 2012-1 and dynamic panel models to explain the Weighted Average Cost of Capital (WACC). It is found that most proposed variables are statistically significant. It also proves the existence of inertia between the current cost of capital and the last period.
dc.descriptionEste artículo identifica y contrasta la significancia estadística de variables macroeconómicas y microeconómicas, que desde la teoría pueden influir sobre el costo de capital. Utilizando información de las empresas listadas en la Bolsa de Valores de Colombia (BVC) entre los periodos 2003-4 a 2012-1 y modelos de paneles dinámicos para explicar el Costo de Capital Promedio Ponderado (WACC), se encuentra que la mayoría de las variables propuestas resultan estadísticamente significativas, así mismo se prueba la existencia de inercia entre el costo de capital actual y el del periodo pasado.
dc.descriptionEste artigo identifica e contrasta a significância estatística de variáveis macroeconômicas e microeconômicas, que desde a teoria podem influenciar o custo de capital. Utilizando informação das empresas listadas na Bolsa de Valores de Colômbia (BVC) entre os períodos 2003-4 a 2012-1 e modelos de painéis dinâmicos para explicar o Custo de Capital Médio Ponderado (WACC), encontra-se que a maioria das variáveis propostas resultam estatisticamente significativas, como também se prova a existência de inércia entre o custo de capital atual e o do período passado.
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dc.languagespa
dc.publisherUniversidad Militar Nueva Granada
dc.relationhttps://revistas.unimilitar.edu.co/index.php/rfce/article/view/2657/2404
dc.relationhttps://revistas.unimilitar.edu.co/index.php/rfce/article/view/2657/2756
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dc.rightsDerechos de autor 2016 Revista Facultad de Ciencias Económicas
dc.sourceRevista Facultad de Ciencias Económicas; Vol. 25 No. 1 (2017); 105-116
dc.sourceRevista Facultad de Ciencias Económicas; Vol. 25 Núm. 1 (2017); 105-116
dc.sourceRevista Facultad de Ciencias Económicas; v. 25 n. 1 (2017); 105-116
dc.source1909-7719
dc.source0121-6805
dc.subjectCapital cost
dc.subjectWACC
dc.subjectmacroeconomic variables
dc.subjectmicroeconomic variables
dc.subjectCosto de capital
dc.subjectWACC
dc.subjectvariables macroeconómicas
dc.subjectvariables microeconómicas
dc.subjectCusto de capital
dc.subjectWACC
dc.subjectvariáveis macroeconómicas
dc.subjectvariáveis microeconómicas
dc.titleMacro- and microeconomic variables affecting the estimated cost of capital: a case study
dc.titleVariables macroeconómicas y microeconómicas que influyen en la estimación del costo de capital: un estudio de caso
dc.titleVariáveis macroeconômicas e microeconômicas que influenciam a estimativa do custo de capital: um estudo de caso
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion


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