Evaluación de la eficiencia financiera en cuatro sectores de clase mundial
DOI:
https://doi.org/10.18041/2382-3240/saber.2015v10n2.793Keywords:
Competitiveness, EVA, Added-Value, Comparative Advantages, Competitive AdvantagesAbstract
The National Development Plan 2010-2014 proposed the strengthening of new industries focus on innovation as one of the “locomotives of growth” and identified four sectors called world classes, considered strategic for Colombia, which are supported by the Productive Transformation Program (PTP) created by the CONPES 3527 and 3678 with the purpose of developing highly competitive sectors and addedvalue producers (Porter, 1990). In the period 2008-2013 the PTP presented unsatisfactory indicators and this is attributed to the existence other industries with better financial indicators that attract investment, placing large sums of capital in sectors that do not produce higher added-value as those related to mining. Therefore, the objective of this document is to assess the financial efficiency of these sectors by applying the methodology of Economic Value Added (EVA) from the operating results and their capacity to cover the cost of capital (Stern, Shiely, & Ross, 2001). The results obtained show that these sectors destroy economic added-value, due to the cost of capital, which increases with the expected rates of return for investors, considering other more profitable sectors
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