Endeudamiento y rendimiento accionario en la Bolsa Mexicana de Valores (2017-2021)
DOI:
https://doi.org/10.24275/uam/azc/dcsh/ae/2022v38n97/SosaPalabras clave:
Apalancamiento financiero, rendimiento bursátil, Bolsa Mexicana de Valores, Modelos Datos Panel, FMOLS, OLSResumen
El presente analiza el impacto del apalancamiento (nivel de deuda total, de corto y largo plazo) y de otras variables relevantes: crecimiento, rendimiento sobre activos, tamaño y solvencia en el rendimiento bursátil de las empresas mexicanas, listadas en la BMV, durante el periodo 2017-2021. Para lograr dicho objetivo se proponen modelos de panel mínimos cuadrados: ordinarios (OLS) y completamente modificados (FMOLS). Los resultados señalan que, el rendimiento operativo (ROA), el crecimiento, el tamaño y la solvencia sí tienen un impacto estadísticamente significativo sobre los rendimientos bursátiles; mientras que, las variables asociadas al apalancamiento/estructura de capital, parecieran no afectar el rendimiento accionario de las empresas bajo estudio.
Clasificación JEL: G32; G11; C23.
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Derechos de autor 2023 Magnolia Miriam Sosa Castro, Rosalinda Arriaga Navarrete
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