Impacto de la rentabilidad y la cuota de mercado en las empresas zombis en México

Abstract

(Identification of zombie companies in Mexico, impact of profitability and market share in them.)

The objective is to identify zombie firms in the Mexican Stock Exchange (BMV) and determine whether market performance and competitiveness predict zombie behavior. Using the CHK method, the presence of zombie companies in Mexico was determined, additionally, a logit model determined the impact of profitability and market share them. A total of 102 BMV companies were analyzed in 2015, identifying 15 organizations with zombie characteristics. A positive effect of market share and a negative effect of profitability were found. The sample was small and the time horizon specific, therefore, for a better understanding of the phenomenon it is proposed to expand the number of organizations and use temporal analysis. This work is a pioneer in Latin America on this type of companies and corroborates the existence of this type of organizations in Mexico. Market characteristics are shown to be important predictors. Finally, zombie firms are a phenomenon to be taken into account, both for academics and for institutions to study the effects on the markets where they operate.