Estimación de cálculo de coeficiente beta para empresas que cotizan en la Bolsa Boliviana de Valores
Abstract
La carencia de un indicador de riesgo sistemático en Bolivia es un problema que afecta de sobremanera a las inversiones en el país, sin dicho indicador las inversiones en general se vuelven más riesgosas. El coeficiente beta es un indicador de riesgo sistemático utilizado en inversiones a nivel mundial por su grado de importancia, lamentablemente dicho coeficiente no fue calculado y por lo tanto no es utilizado en Bolivia, por este motivo, el objetivo de este estudio es estimar el cálculo del coeficiente beta para las empresas que cotizan en la Bolsa Boliviana de Valores. Mediante el uso de una metodología deductiva y exploratoria se logró realizar el cálculo del coeficiente beta a la muestra propuesta, aplicando las diferentes metodologías estudiadas y analizando las diferentes variables que se involucran en las mismas, se seleccionó el método Copeland-Weston y el método de regresión lineal como métodos de cálculo recomendables para las empresas estudiadas, así como los métodos contables y de utilidades para empresas que no cotizan en la Bolsa Boliviana de Valores debido a la informalidad de las mismas, haciendo hincapié en la mezcla de cálculos cualitativos y cuantitativos para un análisis interno y externo de la beta.
The lack of a systematic risk indicator in Bolivia is a problem that affects investments in the country, without this indicator, investments in general become riskier. The Beta coefficient is an indicator of systematic risk used in investments worldwide for its degree of importance, unfortunately this coefficient was not calculated and therefore is not used in Bolivia, for this reason, the objective of this study is Estimate the calculation of the beta coefficient for the companies listed on the Bolivian Stock Exchange. Through the use of a methodology deductive and exploratory was accomplished the calculation of the beta coefficient to the sample proposed, applying the different methodologies studied and analyzing the different variables that are involved in those methodologies, was selected The Copeland-Weston method and the linear regression method as recommended calculation methods for the companies studied, as well as the accounting and profit methods for companies not listed on the Bolivian Stock Exchange due to their informality, emphasizing the mixture of qualitative and quantitative calculations for an internal and external analysis of the beta.
The lack of a systematic risk indicator in Bolivia is a problem that affects investments in the country, without this indicator, investments in general become riskier. The Beta coefficient is an indicator of systematic risk used in investments worldwide for its degree of importance, unfortunately this coefficient was not calculated and therefore is not used in Bolivia, for this reason, the objective of this study is Estimate the calculation of the beta coefficient for the companies listed on the Bolivian Stock Exchange. Through the use of a methodology deductive and exploratory was accomplished the calculation of the beta coefficient to the sample proposed, applying the different methodologies studied and analyzing the different variables that are involved in those methodologies, was selected The Copeland-Weston method and the linear regression method as recommended calculation methods for the companies studied, as well as the accounting and profit methods for companies not listed on the Bolivian Stock Exchange due to their informality, emphasizing the mixture of qualitative and quantitative calculations for an internal and external analysis of the beta.
Description
No. 45