Examinando por Materia "American Depositary Receipt (ADR)"
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Ítem Los programas de ADRs en Colombia : una aproximación jurídico descriptiva y propositiva(Universidad EAFIT, 2008-07) Merino Jaramillo, Camilo; Estrada Montoya, Marcela; Toro Valencia, José Alberto; Posada Botero, José DavidPublicación Variación de los riesgos de crédito y de mercado para una empresa que emite American Depositary Receipt (ADR): estudio de caso para Bancolombia(Universidad EAFIT, 2017) Lozada Cuervo, Gustavo AdolfoThe objective of this paper is to calculate the credit risk variation and the market risk of Bancolombia after emitting American Depositary Receipt (ADR) -- The credit risk, seen as the inability to satisfy ones obligations (go bankrupted), was quantified based on Merton’s model (1974), which considers default (bankruptcy) as the moment when liabilities become higher than the assets and calculates the default probability associating the structure of capital in a call option -- The market risk is understood here as the loss caused by changes in the macroeconomic variables and it was quantified using company’s betas under two scenarios: first, as the stock price sensibility facing the market variability, and second, using Damodaran’s Betas (2015) and professor Hamada’s equation (1972) -- Finally, the company’s risk overview is analyzed