<?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>2594-0163</journal-id>
<journal-title><![CDATA[Mercados y negocios]]></journal-title>
<abbrev-journal-title><![CDATA[Merc. negocios]]></abbrev-journal-title>
<issn>2594-0163</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Guadalajara, Centro Universitario de Ciencias Económico Administrativas]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2594-01632020000200005</article-id>
<article-id pub-id-type="doi">10.32870/myn.v1i42.7548</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Beneficios de un portafolio sobreponderado en países emergentes versus globalmente diversificado]]></article-title>
<article-title xml:lang="en"><![CDATA[Benefits of an Emerging markets overweighted portfolio versus a globally diversified]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Torre-Torres]]></surname>
<given-names><![CDATA[Óscar Valdemar de la]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aguilasocho-Montoya]]></surname>
<given-names><![CDATA[Dora]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Galeana-Figueroa]]></surname>
<given-names><![CDATA[Evaristo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Michoacana de San Nicolás de Hidalgo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Michoacana de San Nicolás de Hidalgo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad Michoacana de San Nicolás de Hidalgo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<volume>21</volume>
<numero>42</numero>
<fpage>5</fpage>
<lpage>26</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2594-01632020000200005&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2594-01632020000200005&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2594-01632020000200005&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN En el presente trabajo se prueba el beneficio de sobreinvertir un portafolio global de acciones en países emergentes. Esto en comparación a un portafolio globalmente diversificado. Al emplear un modelo markoviano con cambios de régimen, en un contexto de dos regímenes y una función de verosimilitud gaussiana, se encontró que es preferible tener un portafolio sobreinvertido en acciones de países emergentes y de Estados Unidos. Lo anterior en comparación a un portafolio globalmente diversificado. El resultado sugiere que los postulados de la teoría clásica de portafolios no siempre se sostienen en materia de diversificación global.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT In the present paper, we test the benefit of overweighting a Global stock portfolio in Emerging markets. This, against a globally full diversified one. By using a Gaussian two- regime Markov-Switching model, we found that it is preferable to overweight in U.S. and Emerging markets stocks against a Globally diversified one. Our results suggest that the assumptions of the classical portfolio theory do not always hold.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Selección de portafolios]]></kwd>
<kwd lng="es"><![CDATA[Mercados emergentes]]></kwd>
<kwd lng="es"><![CDATA[Diversificación]]></kwd>
<kwd lng="es"><![CDATA[Modelos markovianos de cambio de régimen]]></kwd>
<kwd lng="es"><![CDATA[G11]]></kwd>
<kwd lng="es"><![CDATA[G15]]></kwd>
<kwd lng="es"><![CDATA[C24]]></kwd>
<kwd lng="en"><![CDATA[portfolio selection]]></kwd>
<kwd lng="en"><![CDATA[Emerging markets]]></kwd>
<kwd lng="en"><![CDATA[Diversification]]></kwd>
<kwd lng="en"><![CDATA[Markov-Switching models]]></kwd>
<kwd lng="en"><![CDATA[C24]]></kwd>
<kwd lng="en"><![CDATA[G11]]></kwd>
<kwd lng="en"><![CDATA[G15]]></kwd>
</kwd-group>
</article-meta>
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