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Martín García, Rodrigo

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0000-0002-9065-7481
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Martín García
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Rodrigo
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2009 - 200912010 - 201942020 - 20236
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Mostrando 1 - 10 de 11
  • Miniatura
    Publicación
    Temporal optimisation of signals emitted automatically by securities exchange indicators
    (Universidad del País Vasco UPV/EHU, 2020-11-27) Ventura Pérez, Enrique; Martín García, Rodrigo::virtual::3580::600; Arguedas Sanz, Raquel::virtual::3581::600; Martín García, Rodrigo; Arguedas Sanz, Raquel; Martín García, Rodrigo; Arguedas Sanz, Raquel; Martín García, Rodrigo; Arguedas Sanz, Raquel
    Stock exchange indicators deliver buy/sell signals that enable analysts to improve the results of a strategy based strictly on fundamental analysis. Nonetheless, since the automatic implementation of signals as they appear may not yield optimal returns, the present paper analysed the suitability of using a series of technical indicators as guidance for portfolio results. A second aim pursued was to study how delaying the implementation of indicator signals may enhance profitability. A simulation was performed for the years 2005-2016 using the most representative index for the Spanish stock exchange, the IBEX35 and all its constituent securities, along with seven indicators (RoC, RSI, SMA, EMA, MACD, Bollinger bands and Stochastic Oscillator) and a total of 81 combinations of buy/sell lag times. The definition of three non-overlapping sub-periods to guarantee the reliability of the findings yielded a total of 61 236 simulated portfolios. The conclusion drawn from the results was that for certain combinations of indicators, delaying the implementation of buy/sell signals improves returns. More specifically, optimal lag times identified for RSI and EMA signals were shown to deliver statistically significant improvements in portfolio returns, irrespective of the period studied. Those findings were consistent the results of an alternative simulation in which the five securities that were both the most liquid and had the greatest impact on the index were not considered, to rule out the possible effect of the relative weight of securities on either portfolio returns or their normalisation
  • Miniatura
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    Collaborative Learning Communities for Sustainable Employment through Visual Tools
    (MDPI, 2020-03-24) Martín García, Rodrigo; López Martín, Carmen; Arguedas Sanz, Raquel
    Higher education institutions must enable students to acquire skills and capacities that prepare them for working life and enhance their employability. This will lead to an applied learning- and teaching-enhancement-oriented sustainable Higher Education System. This research aims to contribute to that goal by analyzing student interactions in a collaborative learning community. It assesses the impact of visual tools on academic performance and student satisfaction in employment-focused blended studies, in which enrollees were geographically dispersed undergraduates with a diversity of profiles. A financial studies learning community was created to test students’ interactions in a model conducive to participation as visual content creators and users. Three surveys (pre-project, appraisal of classmates’ visual exercises, and post-project) were conducted to assess project impact. First, we used a univariate approach, focused on students’ characteristics, course and project appraisals, and the eects of the project on academic performance and expectations. Secondly, a bivariate approach was conducted to detect relationships between respondents’ appraisals and personal characteristics and to determine whether their mean scores were the same irrespective of such characteristics. The findings showed that: (1) Students’ preferences concur with those of their employers; (2) participation in innovative initiatives improves students’ perception of course procedures; (3) visual tools have a positive impact on learning, in terms of both academic performance and student satisfaction. The study concludes by providing support for educational institutions´ decision-making around courses and the overall curricula by defining the factors determining academic performance and student satisfaction.
  • Miniatura
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    Cointegration between the structure of copper futures prices and Brexit
    (Elsevier, 2021-06) Galán Gutiérrez, Juan Antonio; Martín García, Rodrigo
    In copper futures trading, ‘contango’ (or ‘forwardation’) is the condition in which the futures price enjoys a premium over the spot price on the London Metal Exchange at the close of the second ring and ‘backwardation’ the contrary. That spread or difference between the two prices is affected by fundamentals such as supply and demand as well as by political, social, environmental and macroeconomic risks, hereafter grouped under the term ‘financialisation factors’. Based on analysis of variations in the BUKHI50P stock index that monitors the impact of Brexit on UK companies, this study shows that in the context of a market shortage, Brexit-related macroeconomics and their effect on local companies are cointegrated with the structure of copper futures prices. Guidelines are also provided for traders on when to short- and when to long-sell to capitalise on the structure of copper futures prices under simultaneous market shortage and adverse macroeconomic circumstances.
  • Miniatura
    Publicación
    Innovation in the University: Perception, Monitoring and Satisfaction
    (IEEE, 2018-08-03) Vicente Vírseda, Juan Antonio; Arguedas Sanz, Raquel; Martín García, Rodrigo; González Arias, Julio
    A blended learning teaching experience conducted at Spain's National Distance University is described. The project consisted of integrating technology (a virtual learning platform) and teaching methodologies (multimedia contents, weekly deliverables, continuous self-assessment, mentoring, a four-month timetable, and webinars) to enhance student engagement, performance, and satisfaction. A statistical study showed that self-assessment and professor monitoring are key issues in students' initial perception and ultimate satisfaction as well as the most effective tools for preventing dropout. Project participants had a lower dropout rate and higher grades than non-participants.
  • Miniatura
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    Patrón de comportamiento explicativo de las ofertas públicas de adquisición de acciones en el sector inmobiliario. El caso de España
    (Elsevier, 2017-02-07) González Arias, Julio; Arguedas Sanz, Raquel; Martín García, Rodrigo
    La tendencia alcista del sector inmobiliario espa˜nol (2000-2007) provocó el crecimiento excesivo de muchas empresas, principalmente mediante adquisiciones. Esta investigación pretende identificar patrones de comportamiento para la realización de OPAs en el sector inmobiliario espa˜ nol, particularmente castigado por la crisis financiera. Para ello, se ha analizado un conjunto de 20 variables económico-financieras y su relación con la participación de las compa˜nías cotizadas del sector en este tipo de operaciones, para un total de 354 casos para el periodo 2000-2012, como adquirentes y adquiridas. Para ello, se ha empleado una metodología en dos etapas. En primer lugar, se ha aplicado el Método de Componentes Principales para acotar las variables de estudio consideradas con mayor capacidad explicativa. En segundo lugar, se ha construido un modelo predictivo basado en árboles de decisión, concretamente de tipo CHAID, que permite categorizar el conjunto de empresas analizadas y discriminar patrones de comportamiento. Los cinco factores principales con mayor capacidad explicativa son: a) liquidez, solvencia y capacidad de endeudamiento; b) tama˜no; c) resultado económico; d) capacidad operativa, y e) resultado financiero. De hecho, los dos primeros explican conjuntamente en torno al 70% de la variable dependiente, considerando principalmente a empresas adquirentes. El modelo propuesto cuenta con un nivel de explicación global cercano al 80%. El porcentaje restante que no explica el modelo responde fundamentalmente a cuestiones de tipo estratégico, de especulación financiera e intereses particulares, entre otros factores que concurren en la toma de decisiones.
  • Miniatura
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    Red Innovación Docente en Finanzas. Un modelo docente aplicado a las finanzas
    (2009-09) Pablo Redondo, Rosana De; Arguedas Sanz, Raquel; González Arias, Julio; Martín García, Rodrigo
  • Miniatura
    Publicación
    Is unsubsidised energy transition possible? Feasibility of replacing diesel buses with electric ones
    (Elsevier, 2023-06) Arizcuren Blasco, Javier; Martín García, Rodrigo; Ruiz Rua, Aurora; https://orcid.org/0000-0003-4192-3808
    This study assesses the economic viability of replacing the existing diesel vehicles with electric ones in the public transport sector of mid-sized European cities. It analyses the win-win situation that would result from a public-private financing of such vehicles. The proposed methodology is designed to revisit and improve public sector decision-making and its tools. The procedure entails an analysis of the acquisition and operating costs of electric buses, accounting separately for internal costs and externalities, applying different discount rates for the concessionaire and for public funds. The data used for this study comes from literature review and open-source data for Zaragoza, a medium size city in Northeast Spain. The results obtained show that investment in electric buses, by itself, is not profitable if approached only from the private sector and therefore requires public subsidy. The study, replicable in other locations, reveals the importance of this type of analysis during the decision-making process, considering public funds for sustainable urban mobility development as one solution to address energy transition.
  • Miniatura
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    El reposicionamiento estratégico de las constructoras españolas
    (84, 2010-10) Martín García, Rodrigo; González Arias, Julio
    El presente trabajo repasa algunas de las cuestiones clave que caracterizan la industria de la construcción en España, desde el punto de vista empresarial. La transformación del sector en los últimos años ha sido la respuesta a las circunstancias y los acontecimientos del mercado, tales como el comportamiento de la demanda, los aspectos financieros o los cambios regulatorios y sus efectos sobre las compañías, que han motivado la apertura de nuevas líneas estratégicas. La transformación de las compañías ha sido un fenómeno en cascada y ha impulsado una revolución en la industria, ha transformado productos y estrategias productivas, conduciendo, en última instancia a políticas empresariales como la diversificación, integración, internacionalización y la generalización de los contratos subordinados, lo que marcará las nuevas reglas del juego. Por último, en base a lo anterior, se plantean las principales expectativas y algunas líneas estratégicas que definirán las actuaciones de las empresas para los próximos años, asumiendo la realidad actual de la economía y el sector. Las decisiones tomadas hoy determinarán el papel que desempeñarán durante los próximos años.
  • Miniatura
    Publicación
    Análisis estratégico de la industria de la construcción en España
    (Instituto de Economía Aplicada a la Empresa, 2018-09-18) Martín García, Rodrigo
    El sector de la construcción tiene, en España, una notable importancia, por su aportación al PIB (del entorno del 10,5%) y al empleo (en torno al 10%) y porque aglutina un amplio tejido empresarial. El deterioro de la situación económica y la saturación del mercado residencial han llevado a una fuerte contracción de la actividad constructiva, después una larga época de crecimiento. Es el momento idóneo, por tanto, para realizar un análisis estructural que permita identificar los determinantes de la rentabilidad y de valorar la proyección de las empresas que operan en el mismo. El presente trabajo identifica las reglas de competencia y las expectativas razonables de negocio para los próximos años, empleando para ello el Modelo de las Cinco Fuerzas Competitivas. Este análisis permitirá evaluar las oportunidades y dificultades que encontrarán las empresas constructoras, como instrumento en la toma de decisiones. El éxito de la estrategia dependerá de la gestión de las propias capacidades y fortalezas, especialmente en momentos de cambio en el ambiente competitivo.
  • Miniatura
    Publicación
    Fundamentals vs. Financialization during Extreme Events: From Backwardation to Contango, a Copper Market Analysis during the COVID-19 Pandemic
    (MDPI, 2022-02-11) Galán Gutiérrez, Juan Antonio; Martín García, Rodrigo
    The COVID-19 pandemic has shocked commodities markets in general and base metals markets in particular. The market turmoil made it very difficult to act in the physical market, given the impossibility of establishing or maintaining physical and/or financial positions in a context of high uncertainty. This has happened both in different moments of the development of the pandemic and in geographically different frames. That is why this contribution tries to explain the evolution of warehouses and copper price structure and its utility for hedging in the context of an extreme event. To that end, Granger causality has been used to test whether, during the COVID-19 first wave, the pandemic evolution is cointegrated on one hand with copper futures price structure and, on the other, with the incremental levels of copper stocks. Using 102 official copper prices on London Metal Exchange (LME) trading days, between 13 January 2020 and 5 June 2020 (once the most severe effects of the first wave had been overcome), it was demonstrated that, during the first COVID-19 wave in Europe, the weekly death index variation was cointegrated with the copper future price structure. It has been proven that, in this timelapse, contango in futures price structure has increased its value, and the incremental levels of stock in copper LME warehouses are linked with a stable contango structure. In short, we find that fundamental market effects predominate, in a context in which commodities used to be more financialized. This leads market players, such as traders, miners, and transformers, to move exposures in their hedging structures, under such extreme event situations, in favor of or against either contango or backwardation, so as to derive value from them.