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Risk Disclosure and Cost of Equity: A Bayesian Approach

Divulgación de información sobre riesgos y coste de los recursos propios: un enfoque bayesiano

dc.creatorTirado-Beltrán, Jose Miguel
dc.creatorCabedo, José David
dc.creatorMuñoz-Ramírez, Dennis Esther
dc.date2020-01-30
dc.date.accessioned2021-03-18T21:12:46Z
dc.date.available2021-03-18T21:12:46Z
dc.identifierhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1497
dc.identifier10.22430/24223182.1497
dc.identifier.urihttp://test.repositoriodigital.com:8080/handle/123456789/11932
dc.descriptionThis paper aims to analyze the relationship between risk information disclosure and the cost of equity of companies in the Spanish capital market. This study uses a set of 71 firms listed on Madrid stock exchange between 2010 and 2015; all of them are non-financial listed companies for which profit forecasts existed. The problem was analyzed using a Bayesian linear regression approach. The results show that cost of equity and disclosed risk information are not related if a global view of the latter is adopted. However, a positive relationship between financial risks and the cost of equity occurs when risk information is divided into financial and non-financial risks.en-US
dc.descriptionEl objetivo de este artículo es analizar la relación entre la divulgación de información sobre riesgo y el coste de capital de los recursos propios de empresas que cotizan en el mercado de capitales español. Este estudio utiliza un conjunto de 71 empresas que cotizaron en la Bolsa de Madrid entre 2010 y 2015; todas son empresas no financieras de las que había previsiones de beneficios. El problema se ha analizado bajo un enfoque de regresión lineal Bayesiana. Los resultados del estudio muestran que el coste de capital de los recursos propios y la información de riesgo divulgada no están relacionados cuando se toma la información de riesgos de manera global. Sin embargo, cuando la información de riesgo se divide en riesgos financieros y no financieros, se encuentra una relación positiva entre los riesgos financieros y el coste de capital de los recursos propios.es-ES
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dc.languageeng
dc.publisherInstituto Tecnológico Metropolitano - ITMes-ES
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1497/1486
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1497/1489
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1497/1544
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dc.rightsDerechos de autor 2020 Instituto Tecnológico Metropolitanoes-ES
dc.rightshttp://creativecommons.org/licenses/by-nc-sa/4.0es-ES
dc.sourceRevista CEA; Vol. 6 No. 11 (2020); 25-43en-US
dc.sourceRevista CEA; Vol. 6 Núm. 11 (2020); 25-43es-ES
dc.source2422-3182
dc.source2390-0725
dc.subjectCost of equityen-US
dc.subjectrisk disclosureen-US
dc.subjectBayesian approachen-US
dc.subjectcoste de los recursos propioses-ES
dc.subjectdivulgación de información sobre riesgoses-ES
dc.subjectenfoque bayesianoes-ES
dc.titleRisk Disclosure and Cost of Equity: A Bayesian Approachen-US
dc.titleDivulgación de información sobre riesgos y coste de los recursos propios: un enfoque bayesianoes-ES
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion


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