Importancia del mercado de capitales para la economía colombiana. Un análisis desde los indicadores de bolsa, empresas y barreras de acceso.

Abstract

The article aims to present the importance of the stock market for the national economy and business financing in the country, as well as institutional and market barriers that have not allowed greater access by medium-sized enterprises and natural persons in the Capital Market in Colombia. In order to meet this objective, the behavior of the main stock market indicators and their relationship with the economic growth of the country are shown, together with a brief overview of the most representative of the 5 main companies of the COLCAP indicator that are Ecopetrol, Bancolombia, Grupo Sura, Interconexión Eléctrica and Nutresa, of which a fundamental analysis is made on the valuation in the real market and the financial market from the Q of Tobin, It also describes the conditions necessary for the entry of new companies and persons to the Stock Market and recommends policies to encourage the participation of such agents in the Stock Market, in order to have a greater flow of resources available for investment. Concluding that the ratio of the COLCAP indicator to GDP is positive, as is the ratio of market capitalization of major companies to GDP, to conclude by determining that the biggest barrier to entry to the market is the ignorance that natural persons have about this and that for the case of mediumenterprises are the high conditions of capital and information required to be issuers.