TY  - JOUR 
TI  - ¿Existen ganancias por la cobertura de riesgo cambiario en un portafolio de acciones global, desde la perspectiva de un inversionista colombiano?
JO  - ESTUDIOS GERENCIALES;Vol. 27 No. 120 - Julio/Septiembre 2011
PB  - Universidad Icesi
PY  - 2011
issn 01235923
AB  - This study looks for gains in terms of 
efficiency for local investors with an 
internationally diversified portfolio 
by hedging the exchange risk. To 
estimate an optimum portfolio with a 
minimum variance we used a robust 
methodology which allowed us to 
make statistical inference and prove 
that international diversification reduces portfolio risk for local investors. 
This methodology is applied to stock 
portfolios held by a Colombian and a 
Mexican investor, and the conclusion 
is that hedging exchange rate risk 
can reduce the risk of the portfolio, 
with the possible exception of a high 
negative correlation between the exchange rate and the local stock index.
KW  - DIVERSIFICACIÓN INTERNACIONAL
KW  - POLÍTICA CAMBIARIA
KW  - REDISTRIBUCIÓN DE LA RENTA
KW  - INTERNATIONAL DIVERSIFICATION
KW  - VARIABLE INCOME
KW  - VOLATILITY
KW  - EXCHANGE RATE RISK HEDGING
UR  - http://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/1108
ER  -