Examinando por Materia "Bolsa de Valores"

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    Ítem
    Liquidez en los mercados accionarios colombianos. Cuánto hemos avanzado en los últimos 10 años?
    (Universidad EAFIT, 2010-08-15) Agudelo Rueda, Diego Alonso
    How to measure the liquidity of Colombian stocks and its recent evolution. In the context of market microstructure literature, we define and estimate a measure of liquidity for Colombian stocks and provide evidence of the large improvement of the Colombian stock market in terms of the overall market liquidity from 2001 to 2007. Moreover, the merger of the former three stock exchanges (Bogotá, Medellín and Cali) into the Bolsa de Valores de Colombia in July 2001 can be associated, in an econometric model, to a significant improvement in liquidity for most of the individual stocks.
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    Ítem
    Medidas intradiarias de liquidez y de costos de transacción asociados en la Bolsa de Valores de Colombia
    (Universidad EAFIT, 2011-12-15) Agudelo, Diego Alonso
    The two main transaction costs associated to liquidity on a exchange are the bid-ask spread and the price impact. The former measure is deemed relevant only for small transactions, whereas the second is relevant for larger trades. We show a procedure to estimate both liquidity measures at intraday frequency using the Trade and Order database from the Colombia Stock Exchange. We obtain liquidity measures of transaction cost for a sample of 15 colombian stocks in two periods: April -July 2007 and December 2007 to May 2008. In a panel data model we found, as reported by the previous literature, that liquidity increases with both trading activity and returns, and decreases with volatility. That model also provides evidence of the diminishing effect on liquidity by the Initial Public Offer of Ecopetrol, the Colombian mixed-owned Oil Company on November 2007, which attracted a large share of the trading activity from most of the other stocks.
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    Ítem
    Reporte Burkenroad : Ecopetrol 2018
    (Universidad EAFIT, 2019) García Luna, Natalia; Serrano Amaya, Gustavo; Cortés Durán, Lina Marcela
    In this report an analysis is made about the action of Ecopetrol S.A. The largest company in Colombia and a leader in oil and gas production. The development of economic and financial analysis on this publicly traded company made it possible to build an investment recommendation for those who have this asset in their portfolio and for the general public. In this analysis, the equity value (EV) of Ecopetrol was determined using the discounted free cash flow method (FCLD), which allows us to estimate, through the projection of the financial statements, the cash flows that the company would obtain in the period of determined projection, which in this case is from 2018 to 2023 and, by means of a discount rate (WACC), the approximate value of the company and the stock price.