| Revista: | Latin american journal of economics |
| Base de datos: | CLASE |
| Número de sistema: | 000448516 |
| ISSN: | 0719-0425 |
| Autores: | Walker, Eduardo1 |
| Instituciones: | 1Pontificia Universidad Católica de Chile, Facultad de Administración, Santiago de Chile. Chile |
| Año: | 2016 |
| Periodo: | Dic |
| Volumen: | 53 |
| Número: | 1 |
| Paginación: | 111-147 |
| País: | Chile |
| Idioma: | Inglés |
| Tipo de documento: | Artículo |
| Enfoque: | Analítico, descriptivo |
| Resumen en inglés | An important parameter for asset and project valuation is the opportunity cost of the capital invested, which depends on the systematic risks assumed. Having many angles, the existing literature has not fully resolved the issue for emerging markets. The evidence reviewed in this article suggests that we should at least consider exposure to market risk and country credit risk factors. After reviewing the theoretical and applied literature on cost of capital determination and international asset pricing models, the paper identifies and applies methodologies to determine discount rates applicable to emerging markets for different countries and currencies and develops methodologies for empirically measuring exposure to the country credit risk factor |
| Disciplinas: | Economía |
| Palabras clave: | Condiciones económicas, Inversiones, Inversión extranjera, Costo de capital, Mercados emergentes, Riesgo de mercado, Riesgo financiero, Riesgo cambiario |
| Texto completo: | Texto completo (Ver PDF) |
