Examinando por Materia "INVERSIONES - ASPECTOS AMBIENTALES"

Mostrando 1 - 2 de 2
  • No hay miniatura disponible
    Publicación
    El impacto de las prácticas ESG en el costo de capital (Ke) en las empresas del sector de hidrocarburos en Latam
    (Universidad EAFIT, 2025) Correa Buitrago, Santiago; Yepes Raigosa, David Alejandro
    This research evaluates the statistical relationship between ESG sustainability scores and the cost of equity (Ke) in the Latin American hydrocarbons sector. A panel data regression model (Ordinary Least Squares, OLS) was employed with macroeconomic and financial control variables, using data from 24 companies between 2015 and 2024. The empirical results indicate that the Environmental (E) and Social (S) factors do not exhibit a statistically significant relationship with Ke. However, the Governance (G) component did show a significant correlation. It is concluded that, in this regional sector, the investor's focus prioritizes the soundness of corporate governance as a risk mitigation mechanism in high-uncertainty environments.
  • No hay miniatura disponible
    Publicación
    Impacto de las calificaciones ASG en el desempeño financiero de portafolios del Índice S&P500 (2015–2024)
    (Universidad EAFIT, 2025) Guerrero Díaz, José Antonio; Zora Arce, Álvaro José; Jaramillo Mejía, Alejandro
    This study analyzes the impact of Environmental, Social, and Governance (ESG) ratings on the financial performance of companies within the S&P 500 index, considering their behavior at the sectoral level. Firms are classified into terciles based on the Bloomberg ESG Disclosure Score, constructing high-, medium-, and low-rated portfolios under both equal-weighted and market capitalization-weighted schemes. Performance metrics such as annualized return, volatility, Sharpe ratio, maximum drawdown, and the ESG premium are evaluated over the 2015–2024 period. The research integrates Modern Portfolio Theory with robust statistical testing to determine whether ESG contributes consistent financial value and whether its effect varies across sectors, providing relevant evidence for passive investment management strategies.