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Tenencias de Efectivo en el Desempeño de los Fondos Mutuos

Author

Listed:
  • Alejandro Vargas Sánchez

    (Universidad Privada Boliviana)

  • Mariela Lucero Muñoz Escalera

    (Universidad Privada Boliviana)

Abstract

En el presente documento se presenta un análisis empírico sobre las tenencias de efectivo y su incidencia sobre la rentabilidad de los fondos mutuos en Bolivia. A través de la estimación de 26 modelos econométricos de Vectores Auto Regresivos, se pudo comprobar que el nivel de liquidez medido por las tenencias de efectivo sobre la cartera neta, no tuvo un impacto significativo sobre la rentabilidad de la mayor parte de los fondos estudiados, desestimando de esta manera la idea que los excedentes de efectivo generan un impacto favorable en el desempeño de una cartera.

Suggested Citation

  • Alejandro Vargas Sánchez & Mariela Lucero Muñoz Escalera, 2020. "Tenencias de Efectivo en el Desempeño de los Fondos Mutuos," Investigación & Desarrollo, Universidad Privada Boliviana, vol. 1(1), pages 75-92.
    • Handle: RePEc:iad:wpaper:0520
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    File URL: http://www1.upb.edu/RePEc/iad/wpaper/0520.pdf
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    More about this item

    Keywords

    Tenencias de efectivo; Liquidez; Fondos de Inversión; Rendimientos; Vectores Auto Regresivos.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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