Influencia de la macroeconomía en los mercados financieros
DOI:
https://doi.org/10.14422/icade.i105.y2018.001Palabras clave:
modelos de valoración de activos financieros Índices bursátiles, variables macroeconómicas, Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT)Resumen
En la literatura financiera, la relación entre la evolución de los índices bursátiles y las variables macroeconómicas se aborda a partir del estudio de los modelos de valoración de activos financieros. En este trabajo se analizan los resultados principales obtenidos por la evidencia empírica en este campo, partiendo del modelo Capital Asset Pricing Model (CAPM), cuyo desarrollo dará lugar a la Arbitrage Pricing Theory (APT) y su desglose posterior en los modelos multifactoriales de valoración de activos con variables macroeconómicas definidas a priori.Citas
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