Arbitraje limitado bajo fondeo basado en desempeño.

dc.creatorMelo, Jimmy
dc.date.accessioned2016-01-01 00:00:00
dc.date.accessioned2023-01-23T16:14:33Z
dc.date.accessioned2023-06-05T16:07:29Z
dc.date.available2016-01-01 00:00:00
dc.date.available2023-01-23T16:14:33Z
dc.date.available2023-06-05T16:07:29Z
dc.date.created2016-01-01 00:00:00
dc.date.created2023-01-23T16:14:33Z
dc.date.issued2015-01-01
dc.identifier10.14718/revfinanzpolitecon.2016.8.1.9
dc.identifier2011-7663
dc.identifier2248-6046
dc.identifierhttps://hdl.handle.net/10983/29350
dc.identifierhttps://doi.org/10.14718/revfinanzpolitecon.2016.8.1.9
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/6646971
dc.description.abstractEn escenarios donde el pesimismo incrementa, los arbitrajistas afectan los precios al inducir una recuperación en la demanda por un activo riesgoso (efecto demanda) o por su capacidad para transferir recursos a escenarios donde la liquidez escasea (efecto liquidez). Si el efecto liquidez está activo, los arbitrajistas responden a oleadas de pesimismo e incrementan su posición corta o reducen el monto invertido en el activo riesgoso hoy. En consecuencia, permiten que el precio caiga en el presente, con lo cual se estabilizan las pérdidas en el caso de agudización del pesimismo en el futuro. El efecto liquidez es menor cuando los inversionistas son aversos al riesgo o cuando existen restricciones a las ventas en corto, lo cual se traduce en volatilidad de los precios futuros.
dc.description.abstractIn scenarios of increasing pessimism, arbitrageurs affect processes by inducing a recuperation in demand for a risky asset (demand effect) or as a result of their capacity to transfer resources to scenarios of scarce liquidity (the liquidity effect). If the liquidity effect is active, arbitrageurs respond to waves of pessimism and, as a consequence, increase their short positions or reduce the amount invested in the risky asset today. In this manner, they allow the price to fall in the present, thereby stabilizing losses if pessimism sharpens in the future. The liquidity effect is smaller when investors are risk-averse or when there are short-term restrictions on sales, a situation that translates into volatility in future prices.
dc.languagespa
dc.publisherUniversidad Católica de Colombia
dc.relationhttps://revfinypolecon.ucatolica.edu.co/article/download/933/980
dc.relationhttps://revfinypolecon.ucatolica.edu.co/article/download/933/2153
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dc.relationRevista Finanzas y Política Económica
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dc.rightsinfo:eu-repo/semantics/openAccess
dc.rightshttp://purl.org/coar/access_right/c_abf2
dc.rightshttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.rightsJimmy Melo - 2016
dc.sourcehttps://revfinypolecon.ucatolica.edu.co/article/view/933
dc.subjectBehavioural finance
dc.subjectLimited arbitrage
dc.subjectNoise-trader risk
dc.subjectEmergency sales
dc.subjectLiquidity
dc.subjectFinanzas del comportamiento
dc.subjectArbitraje limitado
dc.subjectNoise-trader risk
dc.subjectVentas de emergencia
dc.subjectLiquidez
dc.subjectFinanças do comportamento
dc.subjectArbitragem limitada
dc.subjectNoise-trader risk
dc.subjectVendas de emergência
dc.subjectLiquidez
dc.titleArbitraje limitado bajo fondeo basado en desempeño.
dc.typeArtículo de revista


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