Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.

Financial difficulties are not an avoidable situation in the future for any company. This situation could emerge due to the combined effects of excessive financial leverage and greater competitiveness in markets. These factors are relevant when they are accompanied by economic crises or financial di...

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Autor Principal: De la Vega Meneses, José Gerardo
Formato: Artículo (Article)
Lenguaje:Español (Spanish)
Publicado: Universidad Santo Tomás, Bogotá-Colombia 2017
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id ir-11634-11005
recordtype dspace
spelling ir-11634-110052019-03-01T20:49:37Z Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange. Indicador de alerta temprana aplicada a empresas que conforman el índice de precios y cotizaciones en la Bolsa Mexicana de Valores De la Vega Meneses, José Gerardo Z-score; financial analysis; Mexican Stock Exchange. Marcador Z; análisis financiero; Bolsa Mexicana de Valores. Financial difficulties are not an avoidable situation in the future for any company. This situation could emerge due to the combined effects of excessive financial leverage and greater competitiveness in markets. These factors are relevant when they are accompanied by economic crises or financial difficulties in the international economic situation, affecting as the headquarters and the countries in which the company has facilities and develops its activities. In this context, it is possible to evaluate the degree of resilience of companies using analysis of financial statements. A model based on this financial analysis that has been used since decades ago in predicting bankruptcy of companies is the “Z-score” model developed by Edward Altman. The Z-score, which can be applied mainly to companies traded on stock exchanges, has been used in the present study in order to estimate the probability of bankruptcy of the companies that comprise the Mexican Stock Exchange, at the end of the year 2015.  Diversas empresas han incurrido en bancarrota en el pasado y muchas podrían incidir en dicha situación en el futuro. Esto puede ser atribuido a los efectos combinados de una mayor competitividad en los mercados y a un excesivo apalancamiento financiero. Estos factores resultan más relevantes cuando van acompañados de crisis económicas o problemas ajenos a las empresas y que afectan económicamente a los países donde se desarrollan sus actividades. La probabilidad de supervivencia de las empresas puede inferirse utilizando análisis de estados financieros. Un modelo basado en estos análisis y que ha resultado verosímil en la predicción de bancarrota de las empresas dos años antes de que suceda es el modelo del marcador Z, de Edward Altman. El marcador Z, el cual se aplica preferentemente a empresas del sector manufacturero y que cotizan en bolsas de valores, fue utilizado en el presente estudio para estimar la probabilidad de bancarrota de las empresas que componen el índice de precios y cotizaciones de la Bolsa Mexicana de Valores, al cierre del año 2015.  2017-12-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artículo revisado por pares https://revistas.usantotomas.edu.co/index.php/activos/article/view/3974 spa https://revistas.usantotomas.edu.co/index.php/activos/article/view/3974/3801 Copyright (c) 2017 Activos application/pdf Universidad Santo Tomás, Bogotá-Colombia Activos; Vol. 14, Núm. 26 (2016); 155- 181 Activos; Vol. 14, Núm. 26 (2016); 155- 181 2500-5278 0124-5805
institution Universidad Santo Tomas
collection DSpace
language Español (Spanish)
topic Z-score; financial analysis; Mexican Stock Exchange.
Marcador Z; análisis financiero; Bolsa Mexicana de Valores.
spellingShingle Z-score; financial analysis; Mexican Stock Exchange.
Marcador Z; análisis financiero; Bolsa Mexicana de Valores.
De la Vega Meneses, José Gerardo
Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
description Financial difficulties are not an avoidable situation in the future for any company. This situation could emerge due to the combined effects of excessive financial leverage and greater competitiveness in markets. These factors are relevant when they are accompanied by economic crises or financial difficulties in the international economic situation, affecting as the headquarters and the countries in which the company has facilities and develops its activities. In this context, it is possible to evaluate the degree of resilience of companies using analysis of financial statements. A model based on this financial analysis that has been used since decades ago in predicting bankruptcy of companies is the “Z-score” model developed by Edward Altman. The Z-score, which can be applied mainly to companies traded on stock exchanges, has been used in the present study in order to estimate the probability of bankruptcy of the companies that comprise the Mexican Stock Exchange, at the end of the year 2015. 
format Artículo (Article)
author De la Vega Meneses, José Gerardo
author_facet De la Vega Meneses, José Gerardo
author_sort De la Vega Meneses, José Gerardo
title Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
title_short Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
title_full Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
title_fullStr Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
title_full_unstemmed Early warning indicator applied to enterprises that make up the prices and quotation index of Mexican Stock Exchange.
title_sort early warning indicator applied to enterprises that make up the prices and quotation index of mexican stock exchange.
publisher Universidad Santo Tomás, Bogotá-Colombia
publishDate 2017
_version_ 1712104874123984896
score 12,131701