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Impacto de la sostenibilidad en el desempeño bursátil de compañías colombianas incluidas en el DJSI : aplicación de la coherencia de wavelet, 2013-2024

dc.contributor.advisorMarín-Rodríguez, Nini Johana
dc.contributor.authorHerrera Correa, Ángela María
dc.coverage.spatialLat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.coverage.spatialLat: 06 15 00 N  degrees minutes  Lat: 6.2500  decimal degreesLong: 075 36 00 W  degrees minutes  Long: -75.6000  decimal degrees
dc.date2025-04-21
dc.date.accessioned2025-05-27T15:56:32Z
dc.date.available2025-05-27T15:56:32Z
dc.identifier.otherT 0634 2025
dc.identifier.urihttp://hdl.handle.net/11407/8938
dc.descriptionEl estudio analiza la relación dinámica entre los precios de las acciones de empresas colombianas incluidas en el Dow Jones Sustainability Index (DJSI), reconocido por sus criterios ASG (Ambiental, Social y de Gobernanza), y otras no pertenecientes a este índice. Utilizando la metodología de coherencia de Wavelet, se evalúan los efectos en diferentes horizontes temporales entre enero de 2013 y agosto de 2024. Los resultados evidencian que las compañías más alineadas con prácticas sostenibles presentan correlaciones más fuertes y estables con el índice, especialmente a mediano y largo plazo, mientras que las menos sostenibles muestran relaciones más débiles y volátiles, como durante la pandemia de COVID-19. El análisis contribuye a la literatura sobre mercados emergentes, destacando similitudes con mercados desarrollados y desafíos regulatorios únicos. Se concluye que las políticas ASG fortalecen el valor a largo plazo y optimizan los retornos ajustados al riesgo. Se recomienda incentivar criterios ASG desde la regulación, promover estrategias sostenibles en las empresas y diversificar inversiones hacia compañías con alto compromiso ASG.spa
dc.descriptionThe study examines the dynamic relationship between the stock prices of Colombian companies included in the Dow Jones Sustainability Index (DJSI), known for its ESG (Environmental, Social, and Governance) criteria, and those not part of the index. Using the Wavelet coherence methodology, the analysis evaluates effects across different time horizons from January 2013 to August 2024. The findings reveal that companies more aligned with sustainable practices exhibit stronger and more stable correlations with the index, particularly in the medium and long term, while less sustainable companies show weaker and more volatile relationships, especially during periods such as the COVID-19 pandemic. The study contributes to the literature on emerging markets, highlighting similarities with developed markets and unique regulatory challenges. It concludes that ESG policies enhance long-term value and optimize risk-adjusted returns. Recommendations include promoting ESG criteria through regulatory incentives, encouraging sustainable strategies within companies, and diversifying investments towards firms with a strong ESG commitment.eng
dc.format.extentp. 1-33
dc.format.mediumElectrónico
dc.format.mimetypeapplication/pdf
dc.language.isospa
dc.publisherUniversidad de Medellínspa
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0*
dc.subjectASGspa
dc.subjectCoherencia de Waveletspa
dc.subjectDesempeñospa
dc.subjectCorrelaciónspa
dc.subjectRendimientos de accionesspa
dc.subjectMercado colombianospa
dc.subjectESGeng
dc.subjectWavelet coherenceeng
dc.subjectPerformanceeng
dc.subjectCorrelationeng
dc.subjectStock returnseng
dc.subjectColombian marketeng
dc.titleImpacto de la sostenibilidad en el desempeño bursátil de compañías colombianas incluidas en el DJSI : aplicación de la coherencia de wavelet, 2013-2024spa
dc.typeinfo:eu-repo/semantics/masterThesis
dc.typeinfo:eu-repo/semantics/article
dc.rights.accessrightsinfo:eurepo/semantics/openAccess
dc.publisher.programMaestría en Finanzas
dc.subject.lembAdministración de riesgos
dc.subject.lembCompañías - Desarrollo sostenible - Colombia
dc.subject.lembCompañías - Impacto ambiental - Colombia
dc.subject.lembMercado financiero - Colombia
dc.subject.lembOnditas (Matemáticas)
dc.subject.lembRendimiento industrial
dc.subject.lembRiesgo (Finanzas)
dc.relation.citationstartpage1
dc.relation.citationendpage33
dc.audienceComunidad Universidad de Medellín
dc.publisher.facultyFacultad de Ciencias Económicas y Administrativas
dc.publisher.placeMedellín
dc.type.hasversionpublishedVersion
dc.type.hasversioninfo:eu-repo/semantics/acceptedVersion
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dc.rights.creativecommonsAttribution-NonCommercial-ShareAlike 4.0 International*
dc.type.coarhttp://purl.org/coar/resource_type/c_bdcc
dc.type.coarhttp://purl.org/coar/resource_type/c_6501
dc.type.localTesis de Maestría
dc.identifier.reponamereponame:Repositorio Institucional Universidad de Medellínspa
dc.identifier.instnameinstname:Universidad de Medellínspa
dc.description.degreenameMagíster en Finanzas
dc.description.degreelevelMaestría
dc.publisher.grantorUniversidad de Medellín


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