Repositorio Institucional Universidad EAFIT ::Examinando por Materia "Derivados financieros"

Examinando por Materia "Derivados financieros"

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Análisis del impacto en el valor de una empresa generadora y comercializadora de energía cuando se usan estrategias de coberturas en su precio
(Universidad EAFIT, 2021) Montaño Portocarrero, Viviana; González Gómez, Cristian; Waserman; Jean Paul
Cobertura con derivados forward para mitigar el riesgo cambiario en la importación de telas : un estudio en el sector textil colombiano
(Universidad EAFIT, 2024) Díez Rendón, Camilo; Cardona Llano, Juan Felipe
This study assessed the impact of using forward delivery contracts as a hedging strategy to mitigate exchange rate risk in the textile imports of Mattelsa SAS, a company based in Medellín (Colombia). Through a backtesting analysis based on the company’s financial data from 2022 to 2024, the implementation of forward hedging was simulated, comparing the potential results of covering imports against not going so. Representative exchange rates (TRM) and local and foreign interest rates were used to estimate the potential cost or benefit of the forward hedging strategy. The results indicate that in years of high currency volatility such as 2022, the forward hedging could have significantly reduced the company´s exchange rate losses, improving financial outcomes. However, during periods of currency appreciation, such as in 2023, the forward contacts might have resulted in additional cost instead of proving protection. Despite these mixed results, forward delivery contracts remain a suitable alternative for importing companies as they allow for the locking in of exchange rates, offering financial stability in scenarios of devaluation. The study concludes that a flexible hedging strategy, adapted to shifting market conditions, is essential to maximize the benefits and minimize risks, making forward delivery a valuable tool in exchange rate risk for Mattelsa SAS.
Cuantificación de las variables explicativas del precio nacional del aceite de palma crudo para la estructuración de una estrategia de cobertura financiera para el productor en Colombia
(Universidad EAFIT, 2024) Moreno Romero, Cynthia Constanza; Corredor Ramírez, Silvia Viviana; Cardona Llano, Juan Felipe
Colombia´s opening to the international crude palm oil market, which originated in the 1990s as part of public policies to promote exports, brought with it the creation of a price stabilization mechanism that resolved the use of a price reference for sales tied to the international prices of the commodity and its substitutes, freight, tariff and exchange rate, thus creating an exposure to market risk for the domestic palm grower. In this context, the present work seeks to quantify the variables that explain the national price of crude palm oil based on a multiple linear regression model with time series of the last ten years, in order to structure a financial hedging strategy for the producer that can be useful as a market risk management tool.
Diseño del componente de gestión de riesgo de mercado del modelo de ALM para una fintech de microcrédito
(Universidad EAFIT, 2025) Insuasti Vinueza, Juan Sebastián; Villamil, Fernando Alonso
Efectos de las finanzas comportamentales en la gestión del riesgo de la tasa de cambio en las pymes en Colombia
(Universidad EAFIT, 2024) Carvajal Gómez, Valentina; Argüelles Jaramillo, Santiago; Villamil Villamil, Fernando Alonso
This research analyzes the effects of biases associated with behavioral finance on exchange rate risk management in SMEs companies in the Colombian real sector. Although behavioral finance has been widely studied in the investment field, it is relevant to analyze its impact on hedging decisions to anticipate and mitigate exchange rate risk. To this end, a survey was applied to thirty SMEs and thirty risk managers of financial institutions, in order to examine the intersection between the literature on behavioral finance and the decision-making process for managing the exchange rate risk of these firms. The results reveal the prevalence of cognitive biases in this process, suggesting the necessity to present strategies and recommendations to mitigate them.
Estrategia de cobertura para mitigar el riesgo cambiario en una empresa del sector industrial en el Valle del Cauca
(Universidad EAFIT, 2019) Gómez Saldarriaga, Jessica Paola; Vásquez Román, Juan José; Waserman Álvarez, Jean Paul
This paper aims to develop and evaluate the main factors in the design of one foreign exchange hedging strategy for a company in the industrial sector in Valle del Cauca, as a mechanism to mitigate the present risks in exchange rate fluctuations. In this way, the income statement and the capital structure of the company are protected from the possible effects in the exchange rate variations on the assets, current liabilities, operating profit, net income and therefore on its financial indicators. For this, it is intended to analyze the company's exposure to this kind of risk, the different tools and mechanisms currently used for its management, and also this paper contains a small exchange rate financial derivatives summary, in order to identify the appropriate hedging strategy for this company.
Estrategia de gestión de riesgo cambiario para una empresa del sector floricultor colombiano
(Universidad EAFIT, 2025) Pulgarín Cárdenas, Johan Sebastián; Giraldo Arango, Mateo
This paper aims to analyze how flower exporting companies in Colombia can use financial derivatives to manage risks associated with exchange rate and price volatility in international markets. The research focused on answering the question: how can financial derivatives improve financial planning and ensure the return of flower companies? To answer this question, financial data from the last five years of a company were collected and analyzed. Quantitative methodologies, including sensitivity analysis and Monte Carlo simulations, were used to assess how different market scenarios and macroeconomic variables would affect the company's finances and how derivatives would mitigate these effects. The study finds that the implementation of financial hedging strategies through derivatives can reduce financial risks, mainly linked to foreign exchange exposure, and ensure profitability levels, providing effective solutions for the stability of the Colombian flower sector.
Impacto en el estado de resultados de una compañía importadora del sector metalmecánico en Colombia ante el uso de diferentes estrategias de cobertura cambiaria
(Universidad EAFIT, 2023) Botero Gaviria, Andrea; Ossa Salazar, David; Cardona Llano, Juan Felipe
This study presents a retrospective analysis of the use of different financial derivative products and structures to mitigate exchange rate risk, with the objective of quantifying their impact on the financial results of an importing company in the metal-mechanic sector in Colombia. To this end, real and real and historical data of the exchange rate (USD/COP) are taken for the period between 2019 and 2022. At the same time, the purpose of the research is to expose how to obtain a better performance in the financial results from different financial alternatives, which results in the to improvement of the decision-making of the exchange risk management in a globalized market where there are not only many changes, but also high volatility in the exchange rate. In this order of ideas, the strategies that could have had a better performance are described, their value in the financial management of the company under study is demonstrated, and the conclusions and recommendations for those interested in managing this type of exchange rate risk are presented.
Impacto en el estado de resultados de una compañía porcícola en Colombia ante el uso de coberturas cambiarias para la adquisición de maíz
(Universidad EAFIT, 2023) Roldán Delfino, Santiago; Urrego Gómez, José; Cardona Llano, Juan Felipe
In Colombia, companies in the agricultural sector rely on imported materials. This forces companies to conduct transactions in foreign currencies, primarily in US dollars. This situation exposes companies to foreign exchange risk, which, along with the volatility of the Colombian peso and its dependence on the dynamism of the global economy, makes it interesting to consider the possibility of using financial instruments such as derivatives to minimize or mitigate the inherent risk in this activity. The volatility in the exchange rate generates uncertainty and high variation in the cash flows of companies in the agricultural sector due to the difficulty of making an accurate projection of cash flow, as there is a significant challenge in projecting the value that the currency will have at the time of importation. Thus, the purpose of this document is to evaluate the impact that the use of hedging through derivatives to manage exchange rate risk for the acquisition of corn would have on the income statement of a pork company in Colombia.
Impacto financiero a través de coberturas con forward para una empresa exportadora de cacao en grano en Colombia
(Universidad EAFIT, 2022) Marín Cano, Natalia; Valencia Gil, Jhon Alexander; Cardona Llano, Juan Felipe
Currently, many Colombian companies are facing new challenges derived from the opening of foreign markets, a fact that forces them to carry out transactions in a currency other than the local one –in this case the Colombian peso–. These operations are accompanied by risks inherent in a globalized world where it is essential to generate tools that allow them to mitigate the risk caused by market variations. Two of these risks are the volatility of the US dollar and the international price of raw materials (commodities), whose fluctuation generates uncertainty for companies, depending on external factors that directly affect their cash flows. Thus, the purpose of this document is to describe the financial impact generated by hedging financial instruments for a cocoa exporting company in Colombia that carries out operations in foreign currency.
Mecanismos de inversión en el mercado de valores de Colombia : un análisis a la normatividad financiera colombiana que rige a los fondos de inversión colectiva, a las sociedades comisionistas de bolsa, a las acciones y a los principales derivados financieros que permiten la inversión en el mercado de valores de Colombia
(Universidad EAFIT, 2022) Cortés Hoyos, Laura; Escudero Díez, David; Vélez Villegas, Juan Esteban
The present monograph presents the financial instruments that allow investment in the Colombian stock market, analyzing the local regulations governing mutual funds, broker-dealer company, shares, and the main derivatives and financial instruments. The purpose is to establish whether such regulation can be considered adequate to promote the development of the Colombian financial market, determining which are the existing investment alternatives, and analyzing how investments could be made through these instruments.
Modelo para estimar el cupo de tesorería sugerido para la negociación de derivados de los clientes de la mesa empresarial de Bancolombia
(Universidad EAFIT, 2022) González Moreno, Pablo; Paniagua Restrepo, Carlos Andrés; Vergara Garavito, Judith Cecilia
Uso de derivados financieros para cubrir la exposición al riesgo cambiario de la empresa LAC SAS.
(Universidad EAFIT, 2021) Flórez Ospina, Sebastián; López Ramírez, Juan Alberto; Cardona Llano, Juan Felipe
For more than 10 years financial derivatives have been incorporated into the Colombian Stock Exchange with the objective that investors can carry out speculation or hedging operations, however, empirical evidence shows that the use of these products in companies in the agricultural sector it is not yet internalized by their owners, boards of directors or administration. therefore, a theoretical construction is carried out on the derivatives market in Colombia and on the different instruments that are used in this market to determine the possible financial strategies that a company such as Línea Agrícola Colombia SAS can contemplate to mitigate exchange risk through hedging with financial derivatives. After analyzing the financial statements of the company and reviewing the impact of the difference in the change that the company has had by not using adequate hedging instruments, we will validate the feasibility of using a future (financial derivative) to reduce this risk. Through this study, it is intended to correctly structure a hedging strategy for Línea Agrícola Colombia SAS that allows it to adequately manage foreign exchange risk in order to avoid having a negative impact on the financial statements.

Examinando por Materia "Derivados financieros"

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