Análisis del índice IPECU-BVG de la Bolsa de Valores de Guayaquil y su correlación con los shocks endógenos del Ecuador en el periodo 2016-2019.
Fecha
2020-10
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Facultad de Ciencias Económicas. Universidad de Guayaquil
Resumen
El presente trabajo tiene como objetivo el análisis del índice IPECU-BVG de la Bolsa de Valores de Guayaquil y su correlación con los shocks endógenos del Ecuador en el período 2016-2019. El mercado de valores ecuatoriano se caracteriza por ser de índole local, por esta razón es importante determinar qué tipo de factores endógenos influyen o no en su comportamiento. El Índice Precios Ecuador indica la variación de los precios de las acciones de la canasta de las empresas que lo conforman, constituyéndolo como una importante herramienta para la interpretación del andamiento del mercado de valores ecuatoriano. Mediante el uso de la metodología de estudio de evento se concluyó que no existe correlación entre el comportamiento del índice IPECU y los shocks de tipo desastre natural, político y social. Únicamente se verificó que el shock de índole normativo económico influyó significativamente en la variación del índice. En consecuencia, se plantea una propuesta de dimensión normativa económica, que busca la optimización del mercado de valores mediante la aplicación de la “ Ley de Fomento para la inversión mediante el ahorro”, la cual eliminaría las principales barreras que existen en el mercado de valores ecuatoriano.
This project aims to analyze the IPECU-BVG index of the Guayaquil Stock Exchange and its correlation with the endogenous shocks occurred in Ecuador in the period 2016-2019. The Ecuadorian stock market is characterized by being directed to local operations, for this reason it is important to determine which type of endogenous factors may influence its behavior. The Ecuador Price Index (IPECU) indicates the variation in the prices of the companies’ shares that comprise it. It constitutes an important tool for interpreting the performance of the Ecuadorian stock market. Using the event study methodology, it was concluded that there is no correlation between the behavior of the IPECU index and shocks of a natural disaster, political and social type. It was only verified that the shock of an economic regulatory nature had a significant influence on the variation of the index. Consequently, a proposal of an economic normative dimension is presented, which seeks to optimize the stock market through the application of the "Law to Promote Investment through Savings". This aims to eliminate the main barriers that exist in the Ecuadorian stock market.
This project aims to analyze the IPECU-BVG index of the Guayaquil Stock Exchange and its correlation with the endogenous shocks occurred in Ecuador in the period 2016-2019. The Ecuadorian stock market is characterized by being directed to local operations, for this reason it is important to determine which type of endogenous factors may influence its behavior. The Ecuador Price Index (IPECU) indicates the variation in the prices of the companies’ shares that comprise it. It constitutes an important tool for interpreting the performance of the Ecuadorian stock market. Using the event study methodology, it was concluded that there is no correlation between the behavior of the IPECU index and shocks of a natural disaster, political and social type. It was only verified that the shock of an economic regulatory nature had a significant influence on the variation of the index. Consequently, a proposal of an economic normative dimension is presented, which seeks to optimize the stock market through the application of the "Law to Promote Investment through Savings". This aims to eliminate the main barriers that exist in the Ecuadorian stock market.
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Palabras clave
BOLSA DE VALORES DE GUAYAQUIL, ÍNDICE BURSÁTIL, MERCADO DE VALORES ECUATORIANOS, RENTA FIJA
Citación
APA