Examinando por Materia "Criterios ESG"
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Publicación Barreras y oportunidades para la transición hacia inversiones sostenibles en Colombia(Universidad EAFIT, 2024) Sánchez Ramírez, Daniel Santiago; Franco Romero, Paul Francisco; Vergara Garavito, Judith CeciliaÍtem Diferencias respecto a la performance de los activos financieros versus activos convencionales(Universidad EAFIT, 2021) Piedrahita Muñoz, Estefania; Vergara Garavito, Judith CeciliaIn this Final Master's Project (TFM) an analysis is carried out that compares the performance of conventional investment assets and sustainable investment assets, specifically, their profitability and level of risk. For this, indicators such as the Sharpe ratio, the Treynor ratio, Jensen's alpha and risk indicators that are analyzed through the volatility index and beta are used. It is obtained those conventional funds have generated 0.28% more than average total return over the last six years, which is a very small difference. The study finally concludes that sustainable investment funds show returns very close to their opponents in traditional funds, despite the fact that ESG factors affect their selection of values, which implies a greater risk for these portfolios.Publicación Impacto de los criterios ESG en el desempeño de portafolios : evidencia para el MILA(Universidad EAFIT, 2024) Henríquez Fattoni, Carla Cristina; Garcés Cardenas, Juliana; Cruz Castañeda, VivianThis study evaluates the performance of investment portfolios with ESG (environmental, social and governance) criteria in the Latin American Integrated Market (MILA), comparing them with portfolios without these criteria. Four ESG portfolios and one portfolio without ESG criteria were built, optimized using the mean-variance model, both with and without weight restrictions. Return predictions were made with historical information from 2021 to 2024 using time series analysis techniques. The results showed that, without weight restrictions, all portfolios had returns below the risk-free rate. However, by restricting the weights to a minimum of 1%, the High ESG and Low ESG portfolios achieved positive returns, with the High ESG standing out with a 1.57% monthly return, higher than the market indices. In addition, the High ESG portfolio presented the best Sharpe and Treynor ratios, indicating higher risk-adjusted profitability. In conclusion, the results support the idea that investments in companies with high ESG scores can generate higher returns without increasing risk, suggesting that responsible investment is more profitable in the Latin American context. This research contributes to the debate on the importance of socially responsible investing in Latin America, providing empirical evidence on the impact of ESG criteria on performance and risk management in investment portfolios.Ítem Influencia de la adopción de criterios ESG dentro de la valoración financiera de empresas estadounidenses que cotizan en la bolsa de valores NASDAQ 100(Universidad EAFIT, 2024) Amelines Osorno, Estefanía; Urrego Moscarella, Tomás; Álvarez Franco, Pilar Beatriz; Puerta Álvarez, Henry DanielWhile companies that implement ESG criteria may enjoy positive market perception, evidence suggests these practices don't necessarily translate into increased corporate value. Analyzing ESG criteria in tech companies shows that those adopting sustainable practices don't always achieve significant valuation impact, especially compared to traditional financial metrics like EBITDA, book value, or stock price. An econometric analysis of 25 NASDAQ 100 companies indicates that although ESG adoption is relevant, its contribution to corporate valuation is limited. This suggests that while sustainability is important, it isn't a decisive competitive advantage in the tech sector. Essentially, the applied econometric models reveal that the explanatory power of ESG criteria on firm value is low, indicating that other financial factors play a much more crucial role in determining value. However, when analyzing the subset of the five most representative tech companies in the NASDAQ 100, the impact of ESG criteria is significant. This indicates that larger, more market-dominant companies find sustainable practices more relevant to their valuation. This finding suggests that the influence of ESG criteria may vary depending on a company's size and position within the tech sector. It implies that companies with higher market capitalization are better positioned to leverage the competitive advantages associated with sustainability.Ítem Los criterios ESG en las sociedades mercantiles colombianas : su origen histórico y trayectoria a la luz de los desarrollos en el panorama internacional(Universidad EAFIT, 2024) Villegas Nicholls, Tomás; Palacio Salazar , Simón; Lorenzoni Escobar, LinaThe integration of ESG criteria in the business sphere is promoted as a key tool to ensure sustainability and competitiveness in a global context that demands greater transparency and corporate responsibility. This idea has resulted from a historical construction of the ESG concept, where a clear evolution of certain voluntary frameworks is identified up to their incorporation into regulatory frameworks, with the most recent example being Directive 2024/1760 of the European Union on sustainability due diligence. This has significant practical consequences, such as the coexistence of multiple ESG criteria, compliance with which could be leading to adaptation difficulties for companies. Following this trend, Colombia generally identifies a central body of ESG regulations that is being issued by the Financial Superintendence and the Superintendence of Companies, with a broad reference to frameworks and information standards from international professional organizations, all of which poses challenges in legal matters and also a different operation for companies.Publicación Metodología para valorar inversiones inmobiliarias con base en criterios ESG : caso Colombia(Universidad EAFIT, 2024) Herrera Mira, Carolina; Romero Jaller, Nestor Josué; Gaitán Riaño, Sandra ConstanzaPublicación Optimizando la gestión de portafolios con inversión responsable y finanzas sostenibles(Universidad EAFIT, 2024) Arroyave Giraldo, Natalia; Escobar Tabares, Natalia