Examinando por Materia "Deuda"
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Ítem Apalancamiento financiero y su impacto en una empresa del sector textil y de la confección en Colombia(Universidad EAFIT, 2022) Restrepo Cadavid, Santiago; Durango Gutiérrez, María PatriciaÍtem Credit Risk, Cost of Capital and Excessive Financial Leverage(Universidad EAFIT, 2020-02-28) Gutiérrez Betancur, Juan Carlos; Mejía Kambourova, David; Gómez Cardeño, Laura; Universidad EAFITConventionally, business valuation methods do not usually incorporate explicitly the effects that the probable bankruptcy costs of the firm could have on the cost of capital. Doing this introduces a stress test in the estimation of the discount rate, which can be very relevant for the fair valuation of excessively leveraged companies traded on the stock market. In this sense, the purpose of this article is to demonstrate the resulting financial vulnerability for this type of firms by explicitly adjusting the cost of capital for bankruptcy risk, and highlighting its implications for the stock market and bank debt market, based on a comparative analysis between three alternative methods of calculating the weighted average cost of capital.Ítem Desempeño financiero durante la pandemia y propuesta de sostenibilidad para la empresa Holcim Colombia(Universidad EAFIT, 2023) Grajales Villa, William Andrés; Alarcón Rico, Mariana; Durango Gutiérrez, María PatriciaÍtem Estructura óptima de capital en una compañía comercializadora de equipos importados en Colombia(Universidad EAFIT, 2023) Duque Restrepo, Diego Alejandro; Gómez Oviedo, Adolfo Del Cristo; Tamara Ayus, Armando LeninThe financial structure is an essential component in the operation and decision-making of companies because the cash flows generated by their activities must be sufficient to meet debt obligations and offset the risk assumed by shareholders when invest in the company. This study focuses on analyzing the optimal financial structure of SOLUMAT SAS, which is dedicated to logistics engineering projects in Colombia, with the aim of improving the available fund management strategies and at the same time strengthening liquidity. The importance of this work lies in presenting an adequate combination of debt and capital that allows other companies in the sector to make more accurate financial decisions, thus improving profit margins and avoiding risks of lack of liquidity that may affect the operation of the company.Publicación Impacto de la divulgación de las políticas ASG en el costo de la deuda (KD) : análisis multivariable en compañías de los principales sectores de la economía europea(Universidad EAFIT, 2024) Arroyave Zapata, Daniel; Saldarriaga Parra, Alejandro; Téllez Falla, Diego Fernando; Restrepo Ochoa, Diana ConstanzaThe main objective of this study is to determine to what extent the level of disclosure of the investments made by companies, in the environmental, social and governance (ESG) in the cost of debt (Kd). The methodology used to resolve this question was a data panel type model, for which a database was built with companies from the main economic sectors in the European market, along with the main financial indicators and the scores of each pillar. ASG as predictors or independent variables, and Kd as response variable; additionally, control variables considered important were used, such as company size, liquidity, and growth, to give greater reliability to the model regressions. The results showed that companies that present better financial results have been able to make greater investments in socio-environmental aspects, which has allowed them to obtain a lower cost of debt; however, companies that already make high investments and obtain very high scores stop receiving this benefit and once again have a higher cost of debtPublicación Medición del riesgo de crédito para un fondo de deuda privada en Colombia(Universidad EAFIT, 2025) Correa Carmona, Sara; Jaramillo Holguín, Paola Andrea; Cadavid Gil, AlejandroCurrently, there are few investment options in non-traditional assets in Colombia. However, alternatives have emerged, such as private debt investments via funds, which invest in credit assets such as credit agreements, promissory notes, and payroll deeds, among others. Proper identification and management of the credit risk inherent in this type of asset allows for the minimization of losses and generates investor confidence. Therefore, this study proposes the Camel methodology to identify and assess credit risk for private debt assets, segmented within the construction sector, specifically small and medium-sized enterprises (SMEs). The indicators applied for credit risk analysis were based on the companies' financial information over a five-year period, and showed that, although they are highly leveraged and may not have access to traditional credit, they are adequately managed and generate liquidity and attractive returns. Thus, the results demonstrate that private debt assets for the construction sector are an investment target.Ítem Stock price reactions to capital structure changes in Chilean firms: Examining the effects of ownership structure, growth opportunities and leverage(Universidad EAFIT, 2020-02-28) Muñoz Mendoza, Jorge A.; Sepúlveda Yelpo, Sandra M.; Veloso Ramos, Carmen L.; Universidad de ConcepciónWe analyzed the effects of ownership structure, capital structure and growth opportunities on stock price reactions when companies issued debt or equity. Our results, based on event study methodology and IV regressions from a sample of 70 Chilean firms, indicate that controlling shareholder ownership has a negative effect on stock price reactions for debt issuances and a positive effect for equity issuance. These results indicate that debt issuances are a substitute for majority shareholder monitoring, and that equity issuances are associated with superior corporate performance. Equity issuances are a means for expropriating wealth from non-controlling shareholders. Debt and growth opportunities have a non-linear effect.Publicación Un análisis de la estructura óptima de capital en la empresa CBW EAI S. A. S.(Universidad EAFIT, 2024) Hernández Avilez, Kelys Yohana; Támara Ayús, Armando Lenin