<?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>1870-6622</journal-id>
<journal-title><![CDATA[EconoQuantum]]></journal-title>
<abbrev-journal-title><![CDATA[EconoQuantum]]></abbrev-journal-title>
<issn>1870-6622</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Guadalajara]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1870-66222017000200069</article-id>
<article-id pub-id-type="doi">10.18381/eq.v14i2.7103</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Análisis de la influencia de la actividad real de la economía sobre la volatilidad de la rentabilidad accionaria: un caso en el sector de edificación en México]]></article-title>
<article-title xml:lang="en"><![CDATA[Analysis of the influence of the real economic activity on the volatility of shareholder profitability: A case in the building sector in Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pérez]]></surname>
<given-names><![CDATA[Ricardo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Montalvo]]></surname>
<given-names><![CDATA[Raúl F.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Tecnológico y de Estudios Superiores de Monterrey Escuela de Negocios ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Tecnológico y de Estudios Superiores de Monterrey EGADE Business School ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<volume>14</volume>
<numero>2</numero>
<fpage>69</fpage>
<lpage>84</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1870-66222017000200069&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1870-66222017000200069&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1870-66222017000200069&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: La relación entre la actividad económica y el sistema financiero es un debate que ha estado presente en diferentes teorías que explican el crecimiento económico. En el análisis empírico de esta relación se han empleado diferentes técnicas como las pruebas de causalidad, la cointegración y modelos de volatilidad, cuyas conclusiones no necesariamente pueden extrapolarse a las realidades de diferentes países y sectores. El propósito de este artículo es analizar por medio de un modelo GARCH, de manera particular, el caso del sector de desarrollo de vivienda en México, analizando la relación entre el sistema financiero mediante el análisis de la volatilidad en los rendimientos de una empresa representativa de dicho sector y un indicador del desempeño esperado de la economía. Encontrando que existe una relación inversa entre la actividad económica esperada sobre la varianza de los rendimientos de la acción de la empresa.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The relationship between the economic activity and the financial system has been extensively analyzed in the literature of economic growth. In the empirical analysis of this relationship different techniques have been used such as causality tests, cointegration and volatility models, whose conclusions can not necessarily be extrapolated to the realities of different countries and sectors. The aim of this research work is to analyze with a GARCH model the housing industry and the level of influence that the expected trend of the general economic activity exerts over the volatility of the stock return of a representative company in this sector. We find evidence that there is an inverse relationship between both of them.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[GARCH]]></kwd>
<kwd lng="es"><![CDATA[crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[desarrollo de vivienda]]></kwd>
<kwd lng="es"><![CDATA[C14]]></kwd>
<kwd lng="es"><![CDATA[C32]]></kwd>
<kwd lng="es"><![CDATA[C58]]></kwd>
<kwd lng="es"><![CDATA[L78]]></kwd>
<kwd lng="es"><![CDATA[O47]]></kwd>
<kwd lng="en"><![CDATA[GARCH]]></kwd>
<kwd lng="en"><![CDATA[economic growth]]></kwd>
<kwd lng="en"><![CDATA[housing industry]]></kwd>
<kwd lng="en"><![CDATA[C14]]></kwd>
<kwd lng="en"><![CDATA[C32]]></kwd>
<kwd lng="en"><![CDATA[C58]]></kwd>
<kwd lng="en"><![CDATA[L78]]></kwd>
<kwd lng="en"><![CDATA[O47]]></kwd>
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