Open AccessRiesgo-país y tasas de descuento para empresas latinoamericanas
Author(s) -
Jaime Sabal,
à lvaro Zerda Sarmiento
Publication year - 2007
Publication title -
cuadernos de difusión
Language(s) - English
Resource type - Journals
eISSN - 1815-6606
pISSN - 1815-6592
DOI - 10.46631/jefas.2007.v12n22.05
Subject(s) - market liquidity , stock exchange , latin americans , business , sample (material) , financial economics , stock market , stock (firearms) , economics , monetary economics , geography , finance , political science , context (archaeology) , archaeology , law , chemistry , chromatography
This paper identifi es the Latin American companies for which the beta calculation is possible and consequently their corporate discount rates with an acceptable degree of confi dence. The selection is based on companies whose shares are listed with suffi cient liquidity in both local stock markets as well as the New York Stock Exchange. At the time of the sample, 88 companies had qualifi ed for the direct beta calculation. The instability of the liquidity indicators and the market dynamics themselves make it necessary to update the analysis often.