Resumen

MOSCOSO ES, JENNY; SEPULVEDA RIVILLAS, CLAUDIA INÉS; GARCIA CANO, ANDERSON  y  RESTREPO LONDONO, AMANDA LUCÍA. CAPITAL COST IN CHANGING ECONOMIC ENVIRONMENTS: CASE OF VALLE DE ABURRÁ (ANTIOQUIA). Rev.fac.cienc.econ. [online]. 2012, vol.20, n.2, pp.189-203. ISSN 0121-6805.

The objective of this study is to establish in what extent the capital cost of middle and large companies that belong to a cluster of construction in Valle de Aburra, presents a different behavior in boom times than in economic crisis. A descriptive methodology was used, which allows comparing financial theory with enterprise information, from the Superintendencia de Sociedades de Colombia for the period between 2005 and 2009. From this information the debt cost, patrimony cost and capital cost were calculated, with the purpose of analyzing its behavior during the period of study. Main findings includethat there is not an important difference in the behavior of capital costs in the economic cycles considered, there is a moderate growth of patrimony similar to the behavior of capital cost.

Palabras clave : Capital cost; Construction cluster; Economic cycles.

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