Perspectives on corporate finance and the Peruvian stock market

Zegarra I.E.H. · Retos(Ecuador) (2020) · DOI: 10.17163/ret.n19.2020.08

Resumen

The degree of development of financial markets is an indicator of countries' economic growth. A financing alternative for companies is the placement of corporate bonds through the stock market; therefore, this study aims to comparatively review the behavior of the Peruvian stock market in relation to corporate bond issues during the periods 2005-2010 and 2015-2019, as a reflection of the current situation of the Peruvian market. It is a documentary and descriptive study that collects data related to corporate bond placements (amounts, maturity terms and interest rates), through the review of press releases from the Superintendence of the Stock Market (SSM) and the respective cumulative reports of the different risk classifiers approved by the SSM, for each of the companies under study. On average, an increase in emissions was observed, as well as a decrease in interest rates, and both trends were statistically significant. On the other hand, two of the companies examined issued green bonds in both the domestic and international markets. These are favorable indicators for Peru's economy, validating that it is growing and even more so, predisposed to global change in which more than business financing, a positive impact in the social and environmental spheres are sought through the issuance of green bonds.

Instituciones: Universidad Nacional de Cajamarca