Financial derivatives and the effects of El Niño phenomenon on the profitability of Peruvian fishing and agro-industrial companies

• Autor: Chambi Condori, Pedro Pablo
• Formato: artículo
• Fecha de Publicación: 2020
• Institución: Universidad Nacional Jorge Basadre Grohmann
• Repositorio: Revistas - Universidad Nacional Jorge Basadre Grohmann
• Lenguaje: español
• OAI Identifier: oai:revistas.unjbg.edu.pe:article/904
• Enlace del recurso: https://revistas.unjbg.edu.pe/index.php/eyn/article/view/904
• Nivel de acceso: acceso abierto
• Materia: Derivados; rentabilidad; riesgos climáticos; derivatives; profitability; weather risks

The objective of this article was to demonstrate the effect of El Niño phenomenon (FEN) on the equity profitability of Peruvian fishing and agro-industrial companies and their coverage with the adaptation of derivative contracts. The research was quantitative, descriptive and explanatory based on the quantification of factors that influence the decrease in the profitability of the Peruvian fishing and agro-industrial companies in the period of 2010 to 2018. The sample selected by convention was made up of 4 companies that are listed on the Lima Stock Exchange, on the one hand, obtaining the annual financial statements of the companies and, on the other hand, the statistical record of the presence of the FEN and the temperature of the regions in which the studied companies are located. Obtaining as evidence of negative incidence by the Temperature and FEN factors on the equity profitability of the companies, whose values are shown in Table 2 and model (1) and the price of hedging with derivatives. The results obtained show the negative effect of temperature and FEN factors on the profitability of Peruvian fishing and agro-industrial companies, whose insurance is possible by adopting the OTC contracting of long-term options, which ensures the loss of value in the profitability of companies.