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Prima de riesgo del mercado utilizada: Encuesta 2008

Author

Listed:
  • Fernandez, Pablo

    (IESE Business School)

Abstract

Este documento resume 424 respuestas a una encuesta por correo electrónico realizada a directivos de empresas, y a profesores de finanzas y escuelas de negocios en su mayoría españoles. Los resultados más relevantes de la encuesta son: gran dispersión de las respuestas (los profesores utilizan primas entre 3,5 y 10%, y las empresas, entre 2 y 30%); un elevado número de empresas no utilizan la prima de riesgo del mercado (bastantes de ellas utilizan un WACC mínimo, una TIR mínima... otras utilizan criterios como ebitda/ventas, PER…); la prima promedio utilizada por las empresas (6,3%) es superior a la utilizada por los profesores (5,5%); muchos profesores y directivos justifican la prima que utilizan con libros y artículos publicados (aunque con la misma fuente se utilizan primas de mercado muy diferentes). El 54% de las empresas y el 15% de los profesores utilizan en 2008 una prima de riesgo superior a la que utilizaban en 2007.

Suggested Citation

  • Fernandez, Pablo, 2008. "Prima de riesgo del mercado utilizada: Encuesta 2008," IESE Research Papers D/761, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-0761
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    Keywords

    Prima riesgo mercado;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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