Coeficiente de volatilidad desapalancado de los sectores financiero, industrial y de servicios del mercado colombiano como elemento para el cálculo del costo del patrimonio

Abstract

Within the field of Corporate Finance, Beta is not an unknown term, because it is a used tool by financiers around the world for the calculation of the cost of capital through the CAPM. The CAPM model shows us the required rate of return that assets must produced in a specific time; According to this rate the valuation of the companies can be done more detailed and précised. There is a key issue to consider the necessity to generate Beta Rates for the Colombian market showing us the trend of the stocks Vs. Market Risk. The Beta that can be developed for many fields in the Colombian Market will give us more accurately figures, because all CAPM models are developed with data from International Markets. The whole information to calculate Betas are taking from the monthly quotes of Financial, Industrial and Services sectors of the economy of last five years.