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The Effects of Diversification on Banks’ Expected Returns
Estrada, Dairo; Arbelaéz, Angela González; Rueda, … - Banco de la Republica de Colombia
optimal level of monitoring, expected return is always higher when the bank decides to focus. Additionally, the empirical … results suggest that there are no possible gains form diversification in bank’s cost and that, on average, the effects of … focusing the loan portfolio reduces bank’s return while showing positive effects of focusing on an specific sector. …
Persistent link: https://www.econbiz.de/10005274510
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The Competing Risks of Acquiring and Being Acquired: Evidence from Colombia´s Financial Sector
García-Suaza, Andrés Felipe; Goméz-Gonzáleza, José … - Banco de la Republica de Colombia
This paper studies the determinants of the probability of participating in a process of merging or acquisition for financial institutions in Colombia. We use survival analysis techniques and competing risks models to estimate the probability of participating in such processes as an acquiring or...
Persistent link: https://www.econbiz.de/10005056495
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Q DE TOBIN Y GOBIERNO CORPORATIVO DE LAS EMPRESAS LISTADAS EN BOLSA
Andrés Langebaek R.; jaime Eduardo Ortiz E. - Banco de la Republica de Colombia
El trabajo evalúa el estado de las prácticas de gobierno corporativo en las empresas que negocian acciones ordinarias en la Bolsa de Colombia. Esta tarea se lleva a cabo mediante la construcción de un Índice de Gobierno Corporativo construido con información pública. Por otra parte se mide...
Persistent link: https://www.econbiz.de/10005274365
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Does the Use of Foreign Currency Derivatives Affect Colombian Firms’ Market Value?
González, José Eduardo Gómez; Gómez, Carlos Eduardo … - Banco de la Republica de Colombia
Classic financial theory relies on the absolute perfection of capital markets, which results in one of the milestones of theoretical corporate finance: the firm’s value is invariant to the choice of capital structure. As an extension to the aforementioned proposition by Modigliani and Miller...
Persistent link: https://www.econbiz.de/10005051651
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Mercado interbancario colombiano y manejo de liquidez del Banco de la República
Ortiz, Pamela cardozo; Campos, carlos A. Huertas; … - Banco de la Republica de Colombia - 2011
El documento tiene como objetivo describir algunos de los elementos fundamentales del mercado interbancario colombiano y del manejo de liquidez por parte del Banco de la República (BR). El documento explica las diferencias entre las principales operaciones en este mercado y describe los...
Persistent link: https://www.econbiz.de/10009325851
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Riesgo Sistémico y Estabilidad del Sistema de Pagos de Alto Valor en Colombia: Análisis bajo Topología de Redes y Simulación de Pagos
Machado, Clara Lía; León, Carlos; Sarmiento, Miguel; … - Banco de la Republica de Colombia
Este documento estudia la estabilidad del sistema de pagos (SP) de alto valor en Colombia (CUD) ante el incumplimiento de una entidad sistémicamente importante, y evalúa la capacidad de respuesta de las entidades afectadas a partir de la utilización de sus recursos y a través de los...
Persistent link: https://www.econbiz.de/10008727688
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Eficiencia de los establecimientos bancarios (EB): una aproximación mediante modelos DEA
Pirateque, Javier E.; Piñeros, José H.; Mondragón, Linda - Banco de la Republica de Colombia - 2013
Este documento analiza la eficiencia (técnica, de escala, de costos y asignativa) del sistema bancario colombiano entre 2000-2012, utilizando la metodología DEA (Data Envelopment Analysis). Ésta se basa en funciones de producción individuales de las entidades que componen el sistema,...
Persistent link: https://www.econbiz.de/10010726687
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The Cost of Collateralized Borrowing in the Colombian Money Market: Does Connectedness Matter?
Martínez, Constanza; León, Carlos - Banco de la Republica de Colombia - 2014
Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we study the cost of collateralized borrowing...
Persistent link: https://www.econbiz.de/10010733996
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Credit Pro-cyclicality and Bank Balance Sheet in Colombia
Salcedo, Franz Alonso Hamann; Hernández, Rafael; … - Banco de la Republica de Colombia - 2013
funding restrictions that condition their borrowing to a risk-based capital constraint which, in turn, affects bank lending … leverage during the business cycle. Using a sample of monthly bank balance sheets for the period 1994-2012, we find not only … that the Colombian banking sector is predominantly pro-cyclical, but also that the composition of bank liabilities provides …
Persistent link: https://www.econbiz.de/10010862639
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Bank Lending, Risk Taking, and the Transmission of Monetary Policy: New Evidence for Colombia
Nidia, Ruth Reyes; José Eduardo Gómez G.; Joya, Jair Ojeda - Banco de la Republica de Colombia - 2013
bank lending channel (and the risk-taking channel) literature. The impact of short-term interest rates on the growth rate …
Persistent link: https://www.econbiz.de/10010862659