Financial risk analysis on industrial SMEs in Colombia: a study of the chemical sector
Keywords:
Regression Analysis, SMEs, Operational Risk, Financial RiskAbstract
The risk associated with financial decisions has a great impact on the performance of the company; ignorance can lead to its disappearance from the market. Investment and financing decisions may be relevant in all aspects of the company such as human resources, technology, among
others, becoming increasingly complex due to changing circumstances of market, such as: monetary system, trends in prices, among others. Risk analysis could be carried out qualitatively and quantitatively. This paper develops a quantitative method, based on a regression model.
Following this, other risk indicators are calculated, among which are the operational, financial and country. Values of risk derived from regression are compared with those other kind of risks, and it is determined which
of them have more closeness. Here, it is used information of the large manufacturing business survey 2010, and from 5000 companies in Revista Dinero of the Colombian chemical industry, finding that this sector has a risk varying between 30 % and 40 % of the profitability, approximately.
Author Biographies
Jorge Aníbal Restrepo Morales
Ingeniero Administrador; Magíster en Administración; candidato a Doctor Universidad San Pablo CEU. Docente de I.U. Tecnológico de Antioquia, Antioquia, Medellín, Colombia.
Marisol Valencia Cárdenas, Instituto universitario Tecnológico de Antioquia
Ingeniera Industrial; Magister en Estadística. Docente de I.U. Tecnológico de Antioquia, Antioquia, Medellín, Colombia.
Juan Gabriel Vanegas López, Fundación Universitaria Autónoma de Las Américas
Economista; Magíster en Economía. Docente investigador Fundación Universitaria Autónoma de Las Américas; integrante grupo de investigación GICEA, Medellín, Antioquia, Colombia.
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