<?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>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462025000300008</article-id>
<article-id pub-id-type="doi">10.21919/remef.v20i3.1350</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Evaluación y comparación del riesgo de tasas de interés en inmobiliarias]]></article-title>
<article-title xml:lang="en"><![CDATA[Measuring and comparing interest rate risk in real estate firms]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Zepeda Rodríguez]]></surname>
<given-names><![CDATA[Aaron]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Benavides Perales]]></surname>
<given-names><![CDATA[Guillermo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez Godínez]]></surname>
<given-names><![CDATA[Gregoria Rosa]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Tecnológico Autónomo de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Banco de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad Tecnológica del Estado de Querétaro  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2025</year>
</pub-date>
<volume>20</volume>
<numero>3</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462025000300008&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462025000300008&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462025000300008&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo del presente trabajo es identificar la exposición al riesgo para una empresa inmobiliaria dada su estrategia de cobertura, considerando financiamientos vigentes pactados a tasa variable. Analiza la situación financiera de la empresa al cierre 2021, considerando tres razones financieras de riesgo de crédito y de cobertura de deuda. Para cuantificar la exposición de dicha empresa, se utilizó el método de duración y convexidad en sus financiamientos vigentes pactados a tasa variable. Este ejercicio arrojó como resultado la sensibilidad del valor presente de los financiamientos de la empresa ante cambios en las tasas de interés. Con dichos resultados, se calculó el cambio en las razones financieras de la empresa, se determinó el grado de sensibilidad de sus pasivos financieros ante las tasas de interés y se compararon los resultados contra dos empresas del mismo mercado. Una vez realizada la comparación y teniendo en cuenta la situación de cobertura actual de la empresa sujeto de estudio, se concluye si está cubierta contra el riesgo y, en caso contrario, se cuantifica una posible estrategia para minimizar la exposición al riesgo.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper aims to assess the risk exposure of a real estate company based on its hedging strategy, focusing on its current variable-rate financing agreements. The analysis evaluates the company&#8217;s financial position at the end of 2021 using three key financial ratios about credit risk and debt coverage. To quantify the company&#8217;s exposure, the duration and convexity method was applied to its variable-rate debt. This approach estimates the sensitivity of the present value of the company&#8217;s debt to changes in interest rates. Based on these findings, the impact of interest rate fluctuations on the company&#8217;s financial ratios was calculated, allowing for an evaluation of the sensitivity of its financial liabilities. The results were then compared with those of two other companies operating in the same market. Finally, considering the company&#8217;s current hedging position, the study concludes whether the company is adequately protected against interest rate risk and, if not, proposes potential strategies to minimize its risk exposure.]]></p></abstract>
<kwd-group>
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<kwd lng="es"><![CDATA[R31]]></kwd>
<kwd lng="es"><![CDATA[E43]]></kwd>
<kwd lng="es"><![CDATA[G32]]></kwd>
<kwd lng="es"><![CDATA[Riesgos por tasa de interés]]></kwd>
<kwd lng="es"><![CDATA[duración]]></kwd>
<kwd lng="es"><![CDATA[convexidad]]></kwd>
<kwd lng="es"><![CDATA[razones financieras]]></kwd>
<kwd lng="es"><![CDATA[contratos Swap]]></kwd>
<kwd lng="en"><![CDATA[R30]]></kwd>
<kwd lng="en"><![CDATA[R31]]></kwd>
<kwd lng="en"><![CDATA[E43]]></kwd>
<kwd lng="en"><![CDATA[G32]]></kwd>
<kwd lng="en"><![CDATA[Interest rate risks]]></kwd>
<kwd lng="en"><![CDATA[duration]]></kwd>
<kwd lng="en"><![CDATA[convexity]]></kwd>
<kwd lng="en"><![CDATA[financial ratios]]></kwd>
<kwd lng="en"><![CDATA[Swap contracts]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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