8 articles in this issue
Ana Milena Olarte Cadavid, Gabriel Ignacio Torres Avendaño
The value at risk _VaR_, is a measure that quantifies the risks faced by a given portfolio. There are some methods to calculate the VaR: historical simulation, Montecarlo simulation, parametric models and duration and convexity models, among others. To... see more
Juan Carlos Gutiérrez Betancur
The estimation of the cost of equity capital is a key input to the capital budgeting process when the firm uses internal financing. Financial analyst and managers usually utilize the CAPM to estimate the cost of equity which requires both measure... see more
Sandra Gaitán Riaño
This document provides a look at The Colombian Corporate Governance System, from the promulgation of the Law 275 of 2001. The guidelines of international standards on corporate governance are commented and compared with the Colombian legislation. Features... see more
Duván Darío Grajales Bedoya
Since its first appearance, the Markowitz model for portfolio selection has been a basic theoretical reference, opening several new development options. However, practically it has not been used among portfolio managers and investment analysts in spite of... see more
Jaime Enrique Arrieta Bechara, Juan Camilo Torres Cruz, Hermilson Velásquez Ceballos
As opposed to the weak form of efficient-market hypothesis, the current study shows that it is possible to do good predictions about the daily share price fluctuations of Suraminv, using artificial neural network models. Furthermore, the forecasts obtaine... see more
Jenny Moscoso Escobar
This article seeks to appropriate a Cash Flow at Risk –CFAR- model from the literature developed in the research of Postgraduate, Measuring Value at Risk of Discounted Cash Flow for the Colombian Firm not listed on the stock market and apply it to a non-f... see more
María Auxiliadora Vergara Cogollo, Cecilia Maya Ochoa
This research explores various methods to estimate Value at Risk for a portfolio of high and medium liquidity Colombian stocks. It concludes that, according to the characteristics of these assets, Full Montecarlo is more robust than other parametric me... see more
Diego Alonso Agudelo Rueda
We present evidence of the important improvement of the Colombian stock market in terms of trading activity in the last ten years. Indeed, the merger of the former three stock exchanges (Bogota, Medellín and Cali) into the Bolsa de Valores de Colombia... see more