<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2218-3620</journal-id>
<journal-title><![CDATA[Revista Universidad y Sociedad]]></journal-title>
<abbrev-journal-title><![CDATA[Universidad y Sociedad]]></abbrev-journal-title>
<issn>2218-3620</issn>
<publisher>
<publisher-name><![CDATA[Editorial "Universo Sur"]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2218-36202023000400482</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Hybrid and avant-garde methods for cost of capital evaluation]]></article-title>
<article-title xml:lang="es"><![CDATA[Métodos híbridos y de vanguardia para la evaluación del coste de capital]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[San Andrés Reyes]]></surname>
<given-names><![CDATA[Pablo Ricardo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Jimber del Río]]></surname>
<given-names><![CDATA[Juan Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Márquez Sánchez]]></surname>
<given-names><![CDATA[Fidel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vergara Romero]]></surname>
<given-names><![CDATA[Arnaldo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad ECOTEC  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Ecuador</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Especialidades Espíritu Santo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Ecuador</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>08</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>08</month>
<year>2023</year>
</pub-date>
<volume>15</volume>
<numero>4</numero>
<fpage>482</fpage>
<lpage>489</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_arttext&amp;pid=S2218-36202023000400482&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_abstract&amp;pid=S2218-36202023000400482&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_pdf&amp;pid=S2218-36202023000400482&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT Nowadays, some capital budgeting techniques have been analyzed by investors in order to make investment decisions because risk takers usually evaluate some techniques, such as the return for projects, net present value for forecasted cash flows, the real-time that an investment can be recuperated, finance variables for sensitivity analysis, and cost of equity. Some methodologies exist; the most common ones are Capital Asset Pricing Model (CAPM) and Gordon´s Wealth Growth model. So, evaluating the cost of equity is essential for risk analysis, but in recent years, some have written articles about hybrid and avant-garde methods that complement the analysis of cost-of-equity techniques. The research aims to show the importance of applying those methodologies that benefit international investors and finance scientific researchers who strive to develop advances in theories and models for the cost of equity evaluation. The methodology was bibliographic because it was necessary to investigate recent articles about those methods. Articles information was taken from the Web of Science database from 2017-2021. The number of articles selected was based on convenience sampling. The study shows the recent articles that have applied Hybrid and avant-garde methods in evaluating the cost of equity. Also, the purpose of each investigation and the explanation of the use of those methodologies.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Hoy en día, los inversionistas han analizado algunas técnicas de presupuesto de capital para tomar decisiones de inversión porque los tomadores de riesgo generalmente evalúan algunas técnicas, como el rendimiento de los proyectos, el valor presente neto para los flujos de efectivo pronosticados, el tiempo real en que se puede recuperar una inversión. , variables financieras para análisis de sensibilidad y costo de capital. Existen algunas metodologías; los más comunes son el modelo de fijación de precios de activos de capital (CAPM) y el modelo de crecimiento de la riqueza de Gordon. Entonces, evaluar el costo de los recursos propios es esencial para el análisis de riesgo, pero en los últimos años algunos han escrito artículos sobre métodos híbridos y de vanguardia que complementan el análisis de las técnicas del costo de los recursos propios. La investigación pretende mostrar la importancia de aplicar aquellas metodologías que beneficien a los inversionistas internacionales y financien a los investigadores científicos que se esfuerzan por desarrollar avances en teorías y modelos para la evaluación del costo de las acciones. La metodología fue bibliográfica porque fue necesario investigar artículos recientes sobre dichos métodos. La información de los artículos se tomó de la base de datos Web of Science de 2017-2021. El número de artículos seleccionados se basó en un muestreo por conveniencia. El estudio muestra los artículos recientes que han aplicado métodos híbridos y de vanguardia en la evaluación del costo de capital. Asimismo, el propósito de cada investigación y la explicación del uso de dichas metodologías.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Capital budgeting techniques]]></kwd>
<kwd lng="en"><![CDATA[Cost of equity]]></kwd>
<kwd lng="en"><![CDATA[Weighted Average of Capital]]></kwd>
<kwd lng="en"><![CDATA[Risk analysis]]></kwd>
<kwd lng="en"><![CDATA[Hybrid and avant-garde methods]]></kwd>
<kwd lng="es"><![CDATA[Técnicas de presupuesto de capital]]></kwd>
<kwd lng="es"><![CDATA[Costo de capital]]></kwd>
<kwd lng="es"><![CDATA[Promedio ponderado de capital]]></kwd>
<kwd lng="es"><![CDATA[Análisis de riesgo]]></kwd>
<kwd lng="es"><![CDATA[Métodos híbridos y de vanguardia]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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