Repositorio Institucional Universidad EAFIT ::Examinando por Materia "CAPITAL"

Examinando por Materia "CAPITAL"

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Análisis de generación de valor y estructura de capital de la compañía RBR Textiles S. A. S.
(Universidad EAFIT, 2024) Suárez Arango, Juliana; Galeano Agudelo, Yurany Sayury; Támara Ayús, Armando Lenin
Análisis de la implementación del modelo de negociación VMI, como estrategia para mejorar la administración del capital de trabajo en una empresa del sector retail : caso Comercializadora Textil S.A.
(Universidad EAFIT, 2021) Navarro Ramírez, Andrés Felipe; Rojas Zamora, Marco Fernando; Vergara Garavito, Judith Cecilia
This paper analyzes the implementation of the VMI negotiation model as a strategy to improve the management of the working capital of the retail company Comercializadora Textil S.A., dedicated to the commercialization of clothing items. This change in the business model was developed as a response to the economic crisis consequence of the global COVID-19 pandemic, as well as at the national strike that took place in various cities and lasted over a month in 2021. Through compilation, analysis and elaboration of historical financial data indicators of the company, it was possible to show a positive change in liquidity, inventory management and significant savings in working capital.
Análisis del impacto en la industria de fondos de inversión colectiva en Colombia a partir de la caída de Interbolsa
(Universidad EAFIT, 2021) Toloza Camacho, Ervin Yesid; Brijaldo Villalobos, Jorge Alejandro; Ospina Mejia, Jaime Alberto
At the end of 2012, the company Interbolsa S.A, the largest broker at that time in Colombia, went bankrupt. This fact triggered one of the biggest scandals in the country, affecting the pillars under which the financial system's relationships are theoretically based, and showing the risks faced by both investment management companies and clients who entrust their money through financial products that are highly regulated by states entities, which, they are must to supervise and take action when unethical practices are evidenced that may lead to a loss of credibility on the part of users. Through an impact evaluation methodology known as Synthetic Control, this document estimates the causal effect of the liquidation of Interbolsa on the mutual funds industry in Colombia, a financial product that in recent years has had an important boom in Iberoamerica, since in addition to encouraging savings and investment, it promotes the democratization of capital markets, which drives economic growth through companies that come to this market to finance their investment projects.
Aproximación al impacto económico que tendría la estimulación del sector turístico con mayor inversión pública : evidencia empírica para Antioquia y Colombia, y un caso de estudio para San Juan de Urabá
(Universidad EAFIT, 2020) Uribe Polo, Paula Andrea; Tobón Zapata, Santiago; Agudelo Henao, Luis Fernando
The following document seeks to approximate the economic impact that stimulating the tourism sector with greater public investment would have: empirical evidence for Antioquia and Colombia, and a case study for San Juan de Urabá. For the above, we will work with two methodologies: a qualitative one where we will argue the adequate methodology to reach the local economic development of San Juan de Urabá taking as a main reference the works of by Alburquerque Llorens, F. (1997) and (2004) and a quantitative one where two econometric models of fixed effects will be estimated with panel data where the following will be measured: on the one hand, the relation between the per capita public investment expenditure and the per capita GDP of the municipalities of Antioquia in the years 2013-2017 and on the other hand, the existing relation between the per capita GDP of the commerce, repair, restaurant and hotel sector as a proxy of the per capita tourist GDP and the per capita public investment expenditure of all the departments of Colombia in the years 2000-2016. The results obtained qualitatively together with the empirical evidence suggest that tourism is a viable alternative for local and regional economic development and growth, particularly for the municipality of San Juan de Urabá. This is mainly supported by the fact that municipal public investment spending per capita positively affects municipal GDP per capita. However, when analyzing the results of departmental per capita public investment spending on departmental per capita tourism GDP, no or no effect was obtained, possibly justified by the low public investment in this sector.
Caso de estudio : estructuración de política de financiación para una empresa en etapa de crecimiento del sector real
(Universidad EAFIT, 2023) Gómez Vergara, Andrés; Toro Gómez, Pedro José; Restrepo Tobón, Diego Alexander
Caso empresarial : Cargaya – una startup en búsqueda de financiamiento de venture capital
(Universidad EAFIT, 2024) Cabezas Valencia, Helen Usney; Aguilar Coronado, Jilma; Calle D´Alleman, Jorge Alberto
The vision of CargaYa is to create an innovative platform that connect independent carriers with transportation companies, facilitating cargo and payment management, and promoting sustainable growth in the sector. The company’s commitment goes beyond mere commercial transactions, as it offers additional resources such as training and financing to improve the quality of life of carriers and contribute to the development of a more environmentally friendly vehicle fleet. This study of business case not only highlights the history and achievements of CargaYa, but also provides valuable guidance for other startups seeking capital through investment rounds. The objectives of this case study were focused on evaluating the financial parameters necessary to access venture capital and validate the financial due diligence model; in addition, tools were provided for financial metrics analysis and evaluating the company's position for capital raising. The CargaYa case included a relevant teaching plan for both graduate and undergraduate programs in areas such as venture capital, entrepreneurship, corporate finance, accounting, and business economics. Its comprehensive approach and positive impact on the business ecosystem made it an inspiring example of how technology can transform and improve traditional sectors such as cargo transportation.
Cómo la sostenibilidad corporativa impacta el desempeño financiero de las compañías
(Universidad EAFIT, 2020) Vargas Duarte, Daniel Felipe; Montaña Ramírez, Christian; Vergara Garavito, Judith Cecilia
Comportamiento de la estructura de capital en los principales fondos inmobiliarios de Estados Unidos
(Universidad EAFIT, 2020) Díaz Morales, Sebastián; Vergara Garavito, Judith Cecilia
Capital structures of the major US real estate firms, during the period 2000 to 2019, are studied in this empirical investigation. In addition, it is validated if the respective structures create or destroy value for their shareholders. At a methodological level, real estate profitability is analyzed based on the capital invested. It is presumed that an adequate capital structuring through financing helps a fund to generate value over time: if there are stable macroeconomic situations. The findings support the hypothesis of a direct link between short-term financing and profitability, the same as the associated business size. Similarly, financial obligations and long-term debts compromise profitability; but with a lower net impact than well-structured current financing.
Comportamiento del ciclo de conversión de efectivo en las empresas colombianas
(Universidad EAFIT, 2021) Mogollón Galeano, Mónica Andrea; Zárate Melgarejo, Karen Silena; Restrepo Tobón, Diego Alexander
This article presents empirical evidence on the effect of operating and financial conditions on the cash conversion cycle (CCE) of Colombian companies that are not listed on the stock exchange for the period 1995 to 2019. The results, which are robust in the presence of From the unobserved heterogeneity at the firm level, it shows that operating margin, size, and level of leverage encourage companies to seek more conservative working capital strategies. In contrast, companies with higher sales growth, reduced free cash flow, high return on assets, and higher investment in tangible fixed assets have a more aggressive working capital policy. Companies that have a more conservative CCE have a lower indicator of coverage of their current liabilities with cash (super acid test). On the other hand, although there is a statistically positive relationship between volatility and CCE, the significance is heterogeneous over time. In addition, when companies present reduced cash flow and negative sales growth, the greater is their probability of financial difficulty even with a conservative CCE
Creación de una asesoría para determinar la estructura de capital adecuada para las compañías del sector agroindustrial en Colombia para bancas de inversión
(Universidad EAFIT, 2023) Piedrahita Arango, Mariantonia; Ocampo Duque, María Camila; Pérez Arbeláez, Sebastián
Cuantificación del requerimiento de capital de los riesgos operacionales en la industria aseguradora
(Universidad EAFIT, 2021) Palacio Vásquez, Alejandro; Bustos-Morón Idárraga, Kristin
In this paper, a methodology for quantifying the capital requirement of operational risks is proposed, under the international Solvency II framework of reference, which involves relevant variables of insurance companies and risk matters. Said methodology raises the quantitative standard of this risk, which is mainly subjective and aims, on the path and objective that insurance companies have of continuing to generate confidence in their clients through an adequate estimate of Risk-Based Capital for their management.
Deleveraging and liquidity strategies Construcciones El Condor
(Universidad EAFIT, 2021) Serna Correa, Diego Armando; Sánchez, Ribero, Gustavo A.
Study of different alternatives to carry out financing and deleveraging operations in the Colombian market for Construcciones el Cóndor. one of the biggest multinational construction companies in the country. This to comply with the payment of the maturities of the corporate bonds issued as of 2020. At the same time, the study seeks to optimize the firm´s capital structure based on high demand for resources inherent to the business, represented as equity contributions, which are resources required to funding some infrastructure projects under the public-private partnerships scheme, retentions in guarantee of construction works, and backups required to cover several risks associated with the construction business. Through an analysis of different alternatives, such as refinancing, bond issues with or without collateral, and the sale of assets, we determine the best actions to take in terms of time and cost, enabling continuity of the business in the medium term.
Derivados financieros como instrumento de mitigación de riesgo cambiario para exportadores e importadores colombianos que se apalancan en moneda extranjera
(Universidad EAFIT, 2020) Cárdenas Loaiza, Jose Eduardo; Molina Vásquez, María Alejandra; Waserman Álvarez, Jean Paul
Derivados financieros en Colombia y la nueva regulación de colaterales
(Universidad EAFIT, 2020) Gómez Gallego, Antonia; Restrepo, Andrés Mauricio
The Colombian derivatives market has grown in the past 20 years. Since the past financial crisis, especially in 2008 with the crash bubble in the USA affected in different ways the financial market. Different contracts are used for derivatives in the Colombian market such as Forwards, Swaps, Futures, and Options. These contracts are negotiated in the OTC (Over The Counter) and in the standardized market. OTC trades directly between two parties and without central exchange or broker; Whereas the standardized market which operates with a broker-dealer or central exchange. It is often found that there can be a breach or an inequality between the parties due to the changing factors of the environment. Therefore, the " Capitulo 18 Circular Basica Contable de la Superintendencia Financiera" was created in Colombia as a new regulation to prevent an imbalance between both parties. Due to the importance of the derivatives market in the world, different countries have implemented this kind of regulation such as the Dodd-Frank and Emir executed by the USA and UE respectively.
Desarrollo de una interfaz gráfica para la implementación de modelos de optimización robusta de portafolios
(Universidad Eafit, 2020) González Guatibonza, José Nicolás; Laniado Rodas, Henry
This research work addresses the problem of optimization of asset portfolios by making an initial approach to the classic optimization models derived from "Portfolio Selection*" (1952), the pioneering work of Henry Markowitz, covering the models of mean and minimal variance along with the equally weighted investment distribution model. From the investigation of their weaknesses, a new approach is made to those that propose the use of robust statistical estimators and the elimination of outliers in the time series involved in the optimization process, including the use of the minimum determinant algorithm of the covariance matrix (Fast-MCD) and that of a new statistical estimator of such matrix by means of a shrinkage to its sample form and the application of a model that involves the use of the comedian as a statistically robust estimator of the matrix, which is object of a subsequent shrinkage process. Next, the development of a graphical user interface on Matlab numerical computing software is presented, which implements the models studied and offers an interactive means of learning and performance analysis, thus leaving a precedent for developing software open to future improvements and investigative uses.
Determinantes de la estructura de capital en empresas del sector floricultor
(Universidad EAFIT, 2021) Ocampo Aristizabal, Adriana Mileidir; Ubaque Pimentel, Ivonne Alexandra; Vergara Garavito, Judith Cecilia
This degree project is focused on the study of the identification of the factors that determine the capital structure at both a financial and macroeconomic level, focused on the Colombian floriculture sector. There was evidence of a gap in the literature, since although studies have been carried out on the determinants of the capital structure in the floriculture sector with a focus on financial determinants, they have not included macroeconomic variables within the analysis. The methodology to be used is a multivariate regression, and the technique to validate the hypothesis was a data panel that allows the analysis of information that includes data with a temporal dimension with another or other cross-sectional ones, to perform a linear regression model that allows demonstrate the relationship between the mentioned variables.
Determinantes de la estructura de capital en la industria química colombiana
(Universidad EAFIT, 2020) Echeverri Castaño, Cristian Andrés; Escobar Ortega, Javier Esteban; Vergara Garavito, Judith Cecilia
Diseño de proceso de condonación de capital en el FGA Fondo de Garantías S. A.
(Universidad EAFIT, 2023) Ruiz Henao, Dariana Carolina; Giraldo Hernández, Gina María; Grisales Soto, Daniel
Educación financiera, una pieza fundamental en el rompecabezas del desarrollo económico : ¿qué efectos tiene la falta de un esquema de educación financiera en el país, en el desarrollo del mercado de capitales colombiano y en el aprovechamiento de los productos financieros disponibles?
(Universidad EAFIT, 2021) Palacios García, Laura Helena; Benítez Tejeda, Karen Paola; Mora Cuartas, Andrés Mauricio
The purpose of this research was analyzed how financial education is a fundamental key for the economic and social development of any country. To determine the variables that helped support the previous argument, a series of methodologies were implemented, which included: a survey for people between 18 and 50 years, and interviews with leaders of the financial sector and influencers aligned with the management of personal finances. Through this research it was evidenced how the lack of financial education is a starting point for the low demand for financial products that are offered in the market. Additionally, the importance of personal finances for the development of an economy and a country in general was highlighted. In accordance, the factors that currently deepen the low financial education in the country were listed in this research, and which they have been reviewed from the pedagogical, social and cultural field.
Efecto de la apertura comercial para el empleo y la producción textilera en Colombia
(Universidad EAFIT, 2021) Bedoya Mejía, David; Villa Herrera, Nicolás; Goda, Thomas
The following work is the result of a research study where the main objective is to establish the effect trade opening on employment and production in the Colombian textile sector. We find that the opening up of the economy produced huge changes in the sector's exports and imports since 1992, which had important impacts on employment and production in this sector. Using a fixed effects econometric model, we identify that the value added of the textile sector was negatively affected by tradeopening. Hence, we conclude that trade liberalization was not beneficial for the Colombian textile industry.

Examinando por Materia "CAPITAL"

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