Spanish Abstract: En esta monografía se describe qué son las finanzas corporativas: qué son, la ciencia de las finanzas y los modelos, el objetivo de la gestión empresarial, el objetivo de la empresa y las relaciones de agencia, el director financiero, la ética en la gestión empresarial, y...

The Chinese economy has become one of the most important consumers of a broad range of commodities. This work aims at measuring the impact of China’s expansion on commodity prices and illustrate its effect on Latin American economies. It is found a positi

El objetivo de este trabajo es doble. Por un lado, describir la estructura de la población inmigrante que cotiza al sistema público de pensiones español, según la información recogida en la Muestra Continua de Vidas Laborales (MCVL) en términos de país de procedencia, edad actual, sexo,...

Una lección de la crisis financiera fue la sobre reacción de las políticas cambiarias en países de Sudamérica. Después del estallido de la crisis, gran parte de ellos tendieron a depreciar sus monedas, esperando enfrentar mejor los efectos negativos, para posteriormente apreciarlas hasta...

The document presents an analysis, developed under the framework of conflict theory, which models the choice of ownership structure as the result of a power struggle between the owner of a firm and potential shareholders. The theoretical model suggests that, when the system that protects...

This paper examines the relationship between stock market development and economic growth in case of Argentina's economy. Apply Granger causality and exogeneity tests based on VEC (vector error correction) models with monthly data covering the period 1993:1-2010:8. The results show that the...

A tool that has been widely used to identify the state of financial conditions in a country are the financial conditions indexes, since they synthesize information from different variables in a single indicator allowing to identify the general behavior of financial conditions in a timely and...

The valuation of options and to a large extent the financial derivatives market require an optimal estimation of the volatility, since this is precisely the variable that is negotiated. We present then a statistical methodology for the estimation of the volatility parameter for an asset using...

The purpose of this paper is to examine the relationship between the financial development and economic growth in Latin American countries. First, we show the high correlation between financial system indicators and GDP. Second, we test out that regardless the financial structure of each...

In this paper we study the presence of calendar anomalies in the main Latin- American stock markets, for the 1993 to 2007 period. The literature has shown that the detection of those effects may depend on error distribution assumptions (Baker et al., 2008), and that their existence could be due...