Barreras estructurales y legales a empresas no financieras privadas en la emisión/cotización del mercado de valores hondureño
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Date
2026-03-06
Journal Title
Journal ISSN
Volume Title
Publisher
Universidad Tecnológica Centroamericana UNITEC
Abstract
La presente investigación se realizó con la finalidad analizar la situación en cuanto a la participación del sector empresarial privado no financiero, en el desarrollo de mercado de valores, siendo este un componente esencial en la consolidación de sistemas financieros eficientes, inclusivos y diversificados. Partiendo de la hipótesis de que existen barreras tanto estructurales como legales que dificultan la participación de empresas privadas no financieras en la emisión y cotización de valores en Honduras. A partir de un enfoque exploratorio, metodológico mixto, que combina análisis documental, revisión de estadísticas del mercado hondureño y entrevistas semiestructuradas a actores clave del ecosistema financiero hondureño, la tesis identifica y categoriza las barreras más significativas que enfrenta el sector privado no financiero para integrarse como emisor al mercado de valores. En economías emergentes como la de Honduras, dicho mercado representa una oportunidad estratégica para ampliar las fuentes de financiamiento.
This research was conducted with the aim of analyzing the situation regarding the participation of the non-financial private business sector in the development of the securities market, which is an essential component in the consolidation of efficient, inclusive, and diversified financial systems. It is based on the hypothesis that there are both structural and legal barriers that hinder the participation of non-financial private companies in the issuance and listing of securities in Honduras. Using an exploratory approach and a mixed methodology that combines documentary analysis, a review of statistics from the Honduras market, and semi-structured interviews with key actors in the Honduras financial ecosystem, the thesis identifies and categorizes the most significant barriers faced by the non-financial private sector in integrating as issuers into the securities market. In emerging economies such as Honduras, this market represents a strategic opportunity to expand sources of financing.
This research was conducted with the aim of analyzing the situation regarding the participation of the non-financial private business sector in the development of the securities market, which is an essential component in the consolidation of efficient, inclusive, and diversified financial systems. It is based on the hypothesis that there are both structural and legal barriers that hinder the participation of non-financial private companies in the issuance and listing of securities in Honduras. Using an exploratory approach and a mixed methodology that combines documentary analysis, a review of statistics from the Honduras market, and semi-structured interviews with key actors in the Honduras financial ecosystem, the thesis identifies and categorizes the most significant barriers faced by the non-financial private sector in integrating as issuers into the securities market. In emerging economies such as Honduras, this market represents a strategic opportunity to expand sources of financing.
Keywords
Mercado de Valores, Inclusivo, Bursátil, Emisor