¿Impacta el sentimiento estadounidense de las tasas de interés en los fondos latinoamericanos negociados en bolsa (ETF)?

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The Anáhuac Journal
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Publicado: Jun 26, 2024
DOI: https://doi.org/10.36105/theanahuacjour.2024v24n1.04
Palabras clave:
sentimiento, fondos negociados en bolsa, retornos, tasa de interés, Latinoamérica

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Humberto Valencia Herrera
EGADE Business School, Tecnológico de Monterrey, México
https://orcid.org/0000-0002-4843-5965

Resumen

En este artículo se analizó la dependencia de los rendimientos de fondos cotizados en bolsa (ETF) de seis países latinoamericanos respecto al sentimiento en relación con las tasas de interés y la reserva federal (FED) en las noticias de Estados Unidos (EE.UU.) durante el período de 2022 a 2023. Para cada uno de los fondos se usaron regresiones robustas con cero a dos rezagos para sentimientos positivos y negativos, y las rentabilidades previas. Se encontró que el sentimiento es estadísticamente significativo para algunos rezagos en los retornos de los ETF de Brasil, Chile y Perú, tanto en la moneda local como en el dólar estadounidense. El ETF Latin American 40 depende asimismo del sentimiento respecto a la moneda estadounidense. También hay un efecto de momento sobre los rendimientos en moneda estadounidense y un efecto de reversión media en moneda local para todos los ETF considerados. El modelo de datos de panel para los ETF de los países considerados con efectos aleatorios y dos rezagos muestra que todos los cambios en el sentimiento considerados son estadísticamente significativos para los rendimientos, excepto el cambio en el sentimiento positivo sin rezagos.

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Valencia Herrera, H. (2024). ¿Impacta el sentimiento estadounidense de las tasas de interés en los fondos latinoamericanos negociados en bolsa (ETF)?. The Anáhuac Journal, 24(1), Págs. 92–113. https://doi.org/10.36105/theanahuacjour.2024v24n1.04
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Vol. 24 Núm. 1 (2024): The Anáhuac Journal, Vol. 24, núm. 1, 2024, Primer Semestre
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Artículos
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The Anáhuac Journal se distribuye bajo Licencia Creative Commons Atribución-NoComercial-CompartirIgual 4.0 Internacional.

 

Biografía del autor/a

Humberto Valencia Herrera, EGADE Business School, Tecnológico de Monterrey, México

Dr. Humberto Valencia Herrera has an extensive career as a researcher, teacher, and professional in finance, economics, and management. He holds a PhD and a Master’s Degree in Economics and Decision Sciences from the Engineering Economic Systems Department, now part of the Management Science and Engineering Department at Stanford University, United States. He has been a finance, economics, management, and industrial engineering professor and researcher, and has collaborated with educational institutions in Mexico and the United States, such as the Tecnológico de Monterrey, the Universidad Iberoamericana, and Stanford University. He has numerous publications in  international and national academic journals. He is currently researching the use of artificial intelligence for investment decision-making, financial economics, energy economics, and technological development economics. He believes in the efficient and responsible management of businesses and economies, balancing environmental and social considerations with human needs.

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