Browsing by Author "Gonzalez Cabrera, Carolina Katherine"

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Influencia del riesgo sistemático en el rating crediticio empresarial a nivel latinoamericano, periodo 2022
(Universidad de Cuenca, 2024-03-25) Gonzalez Cabrera, Carolina Katherine; Naula Sigua, Freddy Benjamín
In this academic article, we study the impact that systematic risk can generate and its influence at the time in which agencies grant a credit rating, since they are based on the study of different financial variables that they consider significant to assign a credit rating score according to the scale that these institutions manage. First, an analysis was carried out of the different stock indices and their components that are part of the Latin American business fabric in a stock exchange so, by studying their prices, daily returns can be determined and then the risk can be calculated systematic through the CAPM model, applying it through a simple regression. After that, once this regression was carried out, companies with non-significant values will be purged. Then, add different control variables, which allow for better treatment of the data represented by indicators of the company's financial situation, so obtain a more accurate result. In the same way, through a second regression based on the previously stated data, both the results obtained from the 2022 period and the available data from the last 5 years ago will be analysed, to make a comparison between these two periods and their significance levels.