Determinantes financieros internos de los precios de las acciones en el sector bancario: evidencia comparativa de los mercados bursátiles de Dubai y Abu Dhabi



Palabras clave:

precio de mercado, determinantes internos, efectos fijos y aleatorios, las bolsas de valores de Dubái y Abu Dabi, sector bancario


El presente estudio se ha realizado para examinar el impacto de siete de los factores internos más importantes en los precios de las acciones de todos los bancos que cotizan en los mercados bursátiles de Dubai y Abu Dhabi. Se han utilizado modelos de mínimos cuadrados agrupados, efectos fijos (FE) y efectos aleatorios (RE) para llevar a cabo el análisis de datos pertenecientes a 23 bancos durante el período de tiempo 2014-2017. El objetivo del estudio es examinar los factores internos más importantes que afectan a los precios de las acciones en el sector bancario de los Emiratos Árabes Unidos, y si los factores internos que determinan los precios de las acciones en este sector son los mismos para los mercados de valores de Dubai y Abu Dhabi. Los resultados evidencian un impacto positivo y significativo de las ganancias por acción (EPS) y los dividendos por acción (DPS) en el precio de mercado de las acciones, en todos los mercados para el primero y solo en el mercado de valores de Abu Dhabi para el segundo. Por el contrario, el estudio revela un impacto negativo de la rentabilidad sobre el capital (RoE), la rentabilidad por dividendo (DY) y las ganancias por precio (P_E) en el precio de mercado de las acciones. Más importante aún, el estudio proporciona evidencia del impacto diferenciado de las variables que representan las políticas de dividendos, en el precio de mercado de las acciones, entre los dos mercados investigados en los Emiratos Árabes Unidos.


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Cómo citar

Azmeh, C., & Hamada, R. (2022). Determinantes financieros internos de los precios de las acciones en el sector bancario: evidencia comparativa de los mercados bursátiles de Dubai y Abu Dhabi. Revista De Métodos Cuantitativos Para La Economía Y La Empresa, 34, 3–16.