Generación del valor a partir de la gerencia del riesgo sistemático
This article explores the concept of risk in terms of its theory, application, management and value. The study shows how risk management models can create value by reducing the discount rate of valuation flows of the underlying asset Three models of real derivatives are put forward: sales derivative...
- Autores:
-
Vargas-Vives, Jaime Andrés
Cruz-Merchán, Juan Sergio
- Tipo de recurso:
- Article of journal
- Fecha de publicación:
- 2015
- Institución:
- Universidad Católica de Colombia
- Repositorio:
- RIUCaC - Repositorio U. Católica
- Idioma:
- spa
- OAI Identifier:
- oai:repository.ucatolica.edu.co:10983/17643
- Acceso en línea:
- https://hdl.handle.net/10983/17643
- Palabra clave:
- BETA
RIESGO SISTEMÁTICO
ACTIVO SUBYACENTE
VALOR
SWAP
RESULTADO DE EXPLOTACIÓN (EBIT)
UTILIDAD OPERACIONAL
- Rights
- openAccess
- License
- Derechos Reservados - Universidad Católica de Colombia, 2015
| Summary: | This article explores the concept of risk in terms of its theory, application, management and value. The study shows how risk management models can create value by reducing the discount rate of valuation flows of the underlying asset Three models of real derivatives are put forward: sales derivatives, cost derivatives, and EBIT derivatives. These real derivatives focus on maximizing asset value through systematic risk (beta) reduction strategies. In summary, the results of this study contradict one of the central principles of modern management, put forward by C. W. Smith in his well-known article, "Corporate risk management". |
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