Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange
Currency volatility and its effect on investment in productive assets in the companies of the Mexican Stock Exchange during 2010-2018 are analyzed. To assess whether the investment is unequal in each of the exchange cycles, three financial multiples were used that measure: (1) the investment index,...
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| Format: | Online |
| Language: | spa |
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Facultad de Ciencias Económicas. Instituto de Economía y Finanzas
2020
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| Online Access: | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/31907 |
| _version_ | 1811172330685071360 |
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| author | Morales Castro, José Antonio Morales Castro, José Antonio |
| author_facet | Morales Castro, José Antonio Morales Castro, José Antonio |
| author_sort | Morales Castro, José Antonio |
| collection | Portal de Revistas |
| description | Currency volatility and its effect on investment in productive assets in the companies of the Mexican Stock Exchange during 2010-2018 are analyzed. To assess whether the investment is unequal in each of the exchange cycles, three financial multiples were used that measure: (1) the investment index, (2) its turnover and (3) its profitability. By means of the Analysis of Variance, the statistical difference of the average values of the three multiples was tested through the three exchange cycles studied. It was found that the amount of investment in productive assets was reduced when passing through the cycles of appreciation-depreciation-appreciation, these decisions reflect the postulates of the theory of animal spirits of Keynes that explain the influence of the emotional waves of the administrators in the Decision making, in this case it was to decrease idle investment, which increased the productivity and profitability of productive investment. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-31907 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2020 |
| publisher | Facultad de Ciencias Económicas. Instituto de Economía y Finanzas |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-319072022-08-22T02:54:01Z Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange Volatilidad cambiaria y su efecto en las inversiones de las empresas de la Bolsa Mexicana de Valores Morales Castro, José Antonio Morales Castro, José Antonio Exchange cycles Long term active investments Mexican Stock Exchange ciclos cambiarios activos de largo plazo inversiones Bolsa Mexicana de Valores Currency volatility and its effect on investment in productive assets in the companies of the Mexican Stock Exchange during 2010-2018 are analyzed. To assess whether the investment is unequal in each of the exchange cycles, three financial multiples were used that measure: (1) the investment index, (2) its turnover and (3) its profitability. By means of the Analysis of Variance, the statistical difference of the average values of the three multiples was tested through the three exchange cycles studied. It was found that the amount of investment in productive assets was reduced when passing through the cycles of appreciation-depreciation-appreciation, these decisions reflect the postulates of the theory of animal spirits of Keynes that explain the influence of the emotional waves of the administrators in the Decision making, in this case it was to decrease idle investment, which increased the productivity and profitability of productive investment. Se analiza la volatilidad cambiaria y su efecto en la inversión en activos productivos de las empresas de la Bolsa Mexicana de Valores durante 2010-2018. Para evaluar si la inversión es desigual en cada uno de los ciclos cambiarios se usaron tres múltiplos financieros que miden: (1) el índice de inversión, (2) su rotación y (3) su rentabilidad. Mediante el Análisis de Varianza se probó la diferencia estadística de los valores promedios de los tres múltiplos a través de los tres ciclos cambiarios estudiados. Se encontró que se redujo el monto de inversión en activos productivos al transitar por los ciclos de apreciación-depreciación-apreciación, estas decisiones reflejan los postulados de la teoría de espíritus animales de Keynes, que explican la influencia de las olas emocionales de los administradores en la toma de decisiones, en este caso fue disminuir la inversión ociosa, que incrementó la productividad y rentabilidad de la inversión productiva. Facultad de Ciencias Económicas. Instituto de Economía y Finanzas 2020-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Articles Artículos application/pdf https://revistas.unc.edu.ar/index.php/acteconomica/article/view/31907 Actualidad Económica; Vol. 30 No. 102 (2020): September-December; 51-64 Actualidad Económica; Vol. 30 Núm. 102 (2020): Septiembre - Diciembre; 51-64 2250-754X 0327-585X spa https://revistas.unc.edu.ar/index.php/acteconomica/article/view/31907/32790 https://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | Exchange cycles Long term active investments Mexican Stock Exchange ciclos cambiarios activos de largo plazo inversiones Bolsa Mexicana de Valores Morales Castro, José Antonio Morales Castro, José Antonio Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title | Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title_alt | Volatilidad cambiaria y su efecto en las inversiones de las empresas de la Bolsa Mexicana de Valores |
| title_full | Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title_fullStr | Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title_full_unstemmed | Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title_short | Foreign exchange volatility and its effect on the investments of the companies of the Mexican Stock Exchange |
| title_sort | foreign exchange volatility and its effect on the investments of the companies of the mexican stock exchange |
| topic | Exchange cycles Long term active investments Mexican Stock Exchange ciclos cambiarios activos de largo plazo inversiones Bolsa Mexicana de Valores |
| topic_facet | Exchange cycles Long term active investments Mexican Stock Exchange ciclos cambiarios activos de largo plazo inversiones Bolsa Mexicana de Valores |
| url | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/31907 |
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