<?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>S1665-53462021000200003</article-id>
<article-id pub-id-type="doi">10.21919/remef.v16i2.489</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Ganancias cambiarias en empresas mexicanas y variables fundamentales y económicas]]></article-title>
<article-title xml:lang="en"><![CDATA[Foreign exchange profits in Mexican companies and fundamental and economic variables]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Morales Castro]]></surname>
<given-names><![CDATA[José Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[López-Herrera]]></surname>
<given-names><![CDATA[Francisco]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Politécnico Nacional  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<volume>16</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462021000200003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462021000200003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462021000200003&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este artículo de investigación es mostrar la evidencia de la influencia de variables económicas y fundamentales de empresa sobre las ganancias cambiarias derivadas de los descalces de moneda extranjera. Mediante modelos para datos en panel, se analizan datos trimestrales de 84 empresas mexicanas durante el periodo 1990-2018. Los resultados muestran que el dólar estadunidense y el PIB, así como seis de las variables fundamentales son significativas, cuatro de éstas últimas estudiadas por primera vez. Se recomienda considerar estas variables pues pueden ser útiles para orientar la toma de decisiones y el diseño de estrategias de operación, inversión y financiamiento para evitar pérdidas cambiarias. Obviamente, el alcance general de este estudio limita su aplicabilidad directa a casos particulares, haciendo necesario analizar la situación específica partiendo de los hallazgos aquí reportados. Se concluye que las ganancias cambiarias reflejan aspectos relevantes de la economía, así como la importancia de las decisiones administrativas.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of this research paper is to show evidence of the influence of economic and fundamental company variables on the exchange rate gains derived from foreign currency mismatches. By means of panel data models, quarterly data of 84 Mexican companies are analyzed during the period 1990-2018. The results show that the US dollar and GDP, as well as six of the fundamental variables are significant, four of the latter studied for the first time. It is recommended to take in account these variables because they can be useful to guide the making decisions and the design of operation, investment and financing strategies to prevent foreign exchange losses. Obviously, the general scope of this study limits its direct applicability for particular cases, rendering necessary to analyze the specific situation based on the findings here reported. It is concluded that foreign exchange gains reflect relevant aspects of the economy, so as the importance of managerial decisions.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[ganancias (pérdidas) cambiarias]]></kwd>
<kwd lng="es"><![CDATA[descalces cambiarios]]></kwd>
<kwd lng="es"><![CDATA[descalces monetarios]]></kwd>
<kwd lng="es"><![CDATA[variables fundamentales]]></kwd>
<kwd lng="en"><![CDATA[Forex exchange profits (losses)]]></kwd>
<kwd lng="en"><![CDATA[currency mismatches]]></kwd>
<kwd lng="en"><![CDATA[monetary mismatches]]></kwd>
<kwd lng="en"><![CDATA[fundamental variables]]></kwd>
</kwd-group>
</article-meta>
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