Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones

Descripción del Articulo

In this paper we construct a methodology to calculate the price-earnings ratio (PER) of the General Index of the Lima Stock Exchange (IGBVL) for the period 1995-2011 following Shiller (2005). Results show that equity prices, in the analyzed period, basically responded to the expected evolution of ea...

Descripción completa

Detalles Bibliográficos
Autor: Pereda, Javier
Formato: artículo
Fecha de Publicación:2012
Institución:Universidad ESAN
Repositorio:Revistas - Universidad ESAN
Lenguaje:inglés
OAI Identifier:oai:ojs.pkp.sfu.ca:article/233
Enlace del recurso:https://revistas.esan.edu.pe/index.php/jefas/article/view/233
Nivel de acceso:acceso abierto
Materia:PER
price-earnings ratio
asset prices
equity premia
id REVESAN_bffd7976970ca8819e7e15ef9406d30b
oai_identifier_str oai:ojs.pkp.sfu.ca:article/233
network_acronym_str REVESAN
network_name_str Revistas - Universidad ESAN
repository_id_str .
spelling Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicacionesPereda, Javier PERprice-earnings ratioasset pricesequity premiaIn this paper we construct a methodology to calculate the price-earnings ratio (PER) of the General Index of the Lima Stock Exchange (IGBVL) for the period 1995-2011 following Shiller (2005). Results show that equity prices, in the analyzed period, basically responded to the expected evolution of earnings of the companies, even during the period of the equity prices boom that preceded the financial crisis of 2008. This conclusion is reinforced when we calculate, following Hayford y Malliaris (2004), the implicit equity premia expected for stock investors. We find high values of equity premia during the period of stock prices boom, which would justify the high PER values registered in that periodUniversidad ESAN2012-06-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed Articleapplication/pdfhttps://revistas.esan.edu.pe/index.php/jefas/article/view/233Journal of Economics, Finance and Administrative Science; Vol. 17 No. 32 (2012): January - June; 41-52Journal of Economics, Finance and Administrative Science; Vol. 17 Núm. 32 (2012): January - June; 41-522218-06482077-1886reponame:Revistas - Universidad ESANinstname:Universidad ESANinstacron:ESANenghttps://revistas.esan.edu.pe/index.php/jefas/article/view/233/138Copyright (c) 2021 Journal of Economics, Finance and Administrative Sciencehttps://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:ojs.pkp.sfu.ca:article/2332021-09-16T01:13:49Z
dc.title.none.fl_str_mv Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
title Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
spellingShingle Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
Pereda, Javier
PER
price-earnings ratio
asset prices
equity premia
title_short Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
title_full Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
title_fullStr Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
title_full_unstemmed Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
title_sort Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
dc.creator.none.fl_str_mv Pereda, Javier
author Pereda, Javier
author_facet Pereda, Javier
author_role author
dc.subject.none.fl_str_mv PER
price-earnings ratio
asset prices
equity premia
topic PER
price-earnings ratio
asset prices
equity premia
description In this paper we construct a methodology to calculate the price-earnings ratio (PER) of the General Index of the Lima Stock Exchange (IGBVL) for the period 1995-2011 following Shiller (2005). Results show that equity prices, in the analyzed period, basically responded to the expected evolution of earnings of the companies, even during the period of the equity prices boom that preceded the financial crisis of 2008. This conclusion is reinforced when we calculate, following Hayford y Malliaris (2004), the implicit equity premia expected for stock investors. We find high values of equity premia during the period of stock prices boom, which would justify the high PER values registered in that period
publishDate 2012
dc.date.none.fl_str_mv 2012-06-30
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/233
url https://revistas.esan.edu.pe/index.php/jefas/article/view/233
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://revistas.esan.edu.pe/index.php/jefas/article/view/233/138
dc.rights.none.fl_str_mv Copyright (c) 2021 Journal of Economics, Finance and Administrative Science
https://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2021 Journal of Economics, Finance and Administrative Science
https://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad ESAN
publisher.none.fl_str_mv Universidad ESAN
dc.source.none.fl_str_mv Journal of Economics, Finance and Administrative Science; Vol. 17 No. 32 (2012): January - June; 41-52
Journal of Economics, Finance and Administrative Science; Vol. 17 Núm. 32 (2012): January - June; 41-52
2218-0648
2077-1886
reponame:Revistas - Universidad ESAN
instname:Universidad ESAN
instacron:ESAN
instname_str Universidad ESAN
instacron_str ESAN
institution ESAN
reponame_str Revistas - Universidad ESAN
collection Revistas - Universidad ESAN
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1846244162877259776
score 12.884314
Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
Nota importante:
La información contenida en este registro es de entera responsabilidad de la institución que gestiona el repositorio institucional donde esta contenido este documento o set de datos. El CONCYTEC no se hace responsable por los contenidos (publicaciones y/o datos) accesibles a través del Repositorio Nacional Digital de Ciencia, Tecnología e Innovación de Acceso Abierto (ALICIA).

Ejemplares Similares