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The Colombian Stock Market: 1930-1998

Pareja, Ignacio Vélez - MASTER CONSULTORES - 1999

This article explores the behavior of the stock market in Colombia with the information given by the Bolsa de Bogota Index (Indice de la Bolsa de Bogota, IBB). The index is analyzed from January, 1930 to December, 1998. The inflation rate covers the same period; the inflation rate as measured by...

Persistent link: https://www.econbiz.de/10010827952

Optimal Portfolio Selection: A Note

Velez-Pareja, Ignacio - MASTER CONSULTORES - 2000

, given her preference curves and an efficient frontier. On the other hand, the Capital Asset Pricing Model (CAPM) is …

Persistent link: https://www.econbiz.de/10010762965

Optimal Portfolio Selection: A Note with a VBA Solution

Velez-Pareja, Ignacio; Ávila, Pedro Fabián Castilla; … - MASTER CONSULTORES - 2012

, given her preference curves and an efficient frontier. On the other hand, the Capital Asset Pricing Model (CAPM) is …

Persistent link: https://www.econbiz.de/10010762986

Ambiguita Nell´Applicazione del CAPM per la valutazione degli investimenti

Magni, Carlo Alberto - MASTER CONSULTORES - 2009

Il presente lavoro tratta del classico criterio di capital budgeting derivato dal CAPM,secondo il quale un investimento …

Persistent link: https://www.econbiz.de/10010763038

Aggregate Return on Investment for Investments under Uncertainty

Magni, Carlo Alberto - MASTER CONSULTORES - 2014

This paper deals with with capital budgeting decisions under uncertainty. We present an Aggregate Return On Investment (AROI), obtained as the ratio of total (undiscounted) cash flow to total invested capital and show that it is a genuine rate of return which, compared with the risk-adjusted...

Persistent link: https://www.econbiz.de/10010827956

Estimating the Appropriate Risk Profile for the Tax Savings: A Contingent Claim Approach

Hoyos, Gonzalo Diaz; Pareja, Ignacio Velez - MASTER CONSULTORES - 2010

about the appropriate discount rate for tax savings under CAPM approach. On this paper we evaluate tax savings from a …

Persistent link: https://www.econbiz.de/10010762920

A fuzzy expert system for solving real-option decision processes

Magni, Carlo Alberto - MASTER CONSULTORES - 2009

This paper presents a new approach to real options. The current options-based models have provided new insights into capital-budgeting decisions. Unfortunately they are not widely used by corporate managers and practitioners as they are formally complex, rather difficult to understand and rest...

Persistent link: https://www.econbiz.de/10010762931

The AIRR Approach for Investment Performance Measurement

Magni, Carlo Alberto - MASTER CONSULTORES - 2012

This paper introduces a new method of investment performance analysis, based on the recent approach of Average Internal Rate of Return (AIRR). We show that the approach generates rates of return suitable for assessing both a fund´s (portfolio´s) performance and a manager´s performance. The...

Persistent link: https://www.econbiz.de/10010762942

The Internal-Rate-of-Return approach and the AIRR paradigm: A refutation and a corroboration

Magni, Carlo Alberto - MASTER CONSULTORES - 2012

This paper shows that the Internal-Rate-of-Return (IRR) approach is unreliable, and that the recently introduced Average-Internal-Rate-of-Return (AIRR) model constitutes the basis for an alternative theoretical paradigm of rate of return. To this end, we divide the paper into two parts: a pars...

Persistent link: https://www.econbiz.de/10010762951

The use of Npv and CAPM for capital budgeting is not a good idea. A reply to De Reyck (2005)

Magni, Carlo Alberto - MASTER CONSULTORES - 2009

-present-value criterion, as currently used in finance. This paper shows that the standard use of CAPM for capital budgeting, based on … disequilibrium values, is at odds with arbitrage theory, and that the corresponding CAPM-based NPV rule is meaningless even in the …-arbitrage principle. To use NPV and CAPM for capital budgeting is not a good idea. …

Persistent link: https://www.econbiz.de/10010762957