DOI:https://doi.org/10.3232/GCG.2018.V12.N3.01

RELACIÓN ENTRE LAS VARIABLES MACROECONÓMICAS Y EL VOLUMEN DE ACCIONES EN EMPRESAS DEL SECTOR FINANCIERO Y DE SEGUROS DEL MERCADO ACCIONARIO LATINOAMERICANO

Allison Manoel de Sousa, Rafael Martins Noriller, Cristiane Mallmann Huppes, Antonio Carlos Vaz Lopes, Rodrigo Malta Meurer

Resumen

Este trabajo tiene como objetivo verificar la relación entre los indicadores macroeconómicos con el Retorno de Acciones (SR) en empresas públicas del sector de finanzas y seguros de América Latina. Los datos fueron analizados de 2010 a 2017 por medio de análisis dinámico de paneles vía Método Generalizado de Momentos (GMM) por dos enfoques: Arellano-Bond y System. Los resultados apuntaron que el Retorno de las Acciones presentó una relación positiva con la Tasa de Cambio, pero una relación negativa con el Producto Interno Bruto. Se concluye que las variables macroeconómicas interfieren en el retorno a los accionistas de las empresas del sector de Finanzas y Seguros.

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