CALCULATION OF THE BETAS OF THE CAPITAL ASSET PRICING MODEL AS AN INDICATOR OF PROFITABILITY OF COMPANIES LINKED TO THE ECUADORIAN STOCK EXCHANGE
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Keywords

Ecuador's stock market
capital asset pricing model (CAPM
systematic risk
profitability

How to Cite

Valverde, J., & Caicedo, F. (2020). CALCULATION OF THE BETAS OF THE CAPITAL ASSET PRICING MODEL AS AN INDICATOR OF PROFITABILITY OF COMPANIES LINKED TO THE ECUADORIAN STOCK EXCHANGE. Universidad Ciencia Y Tecnología, 24(107), 79-87. https://doi.org/10.47460/uct.v24i107.417

Abstract

The risk when investing in securities belonging to the capital market not only depends on the results of the issuers, but also on the economic environment. Under this context, the objective of the study was to calculate the betas through the application of the Capital Asset Princing Model (CAPM), to know
the profitable influence of the companies linked to the Ecuador Stock Exchange. The sample consisted of 35 companies holding shares during the 2014-2019 period. The research was developed under a quantitative approach, through a correlational scope between the variables systematic risk and profitability.
The results showed that using systematic risk is not considered as a valuation model for strong financial assets, because it works under assumptions. It is concluded that in the issuers of shares analyzed, the beta does not affect the profitability offered by the companies linked to the Ecuadorian Stock Exchange.

Keywords: Ecuador's stock market, capital asset pricing model (CAPM), systematic risk, profitability.

References

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https://doi.org/10.47460/uct.v24i107.417
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