http://hdl.handle.net/11531/670 Fri, 13 Mar 2026 17:30:14 GMT 2026-03-13T17:30:14Z http://hdl.handle.net/11531/53698 Private banking in Spain : relevance and functions in the current financial environment Romera García, Javier Nowadays, the prívate banking sector is experimenting a successful growth since the last decade, in order to answer the needs of the wealthy people, who demands a special service to manage their patrimony. lt has not always been the same, the entities who made these functions several decades ago have changed, the wealthy client is not the same than before, and the markets and investment products have experimented a great transformation that has allowed to diversify this business. But not everything it has been a way of success without impediments. The financia! crisis in 2008 carne a new player who it has been converted in a main actor inside of the banking sector, his name is compliance. The regulation of Basellll, MiFID 11, AML, etc, they have been sorne of the colleagues with whom the prívate banking has had to live together in these years, which has obligated to the prívate bankers to change the way of performance. Prívate banking has a great opportunity of maintaining the activity in one of the sectors that is suffering the most from digital transformation. The great impact of the new technologies in order of displacing the personal bankers by the computers, the coming of the robo-advisors, or the appearance of fintech, are one of the severa! threats for the prívate banking. In this scenario, the prívate banking has the chance of preserving the figure of the prívate banker who advise the client, in order to promote the personal dealing versus the lA. Máster Universitario en Finanzas Tue, 01 Jan 2019 00:00:00 GMT http://hdl.handle.net/11531/53698 2019-01-01T00:00:00Z http://hdl.handle.net/11531/53697 La inversión en valor : metodología, fondos de inversión y gestores Rodríguez Camacho, Ignacio Daniel El objetivo de este trabajo de investigación consistirá, en primer lugar, en analizar la metodología de la inversión en valor desde su inicio hasta día de hoy, los gestores de vehículos de inversión e inversores que la aplican, y los resultados históricos que han tenido los mismos comparados con sus índices de referencia. Por otro lado, se realizará un análisis de los sectores o tipología de empresas donde los inversores se centran en cada momento y, además, se explicarán los sesgos que tienen hacia determinados valores y sectores más castigados por el mercado en cada momento, y la forma en la que llevan la contraria al consenso del mercado a través del análisis fundamental individual de cada compañía y sector. Este trabajo también mostrará cómo la metodología de inversión en valor a pesar de ser más volátil o menos rentable a corto plazo es, sin embargo, la más segura y rentable a largo plazo, teniendo un horizonte temporal de inversión 7 años superior a la de sus comparables. Además, se hablará de la industria de gestión de fondos de inversión en España, llevando a cabo un estudio de la rentabilidad y comportamiento de los principales vehículos con mayor dinero bajo gestión del país, y del porcentaje que pertenece a la gestión en valor. Se diferenciará, además, la gestión independiente de la gestión realizada por entidades bancarias. Durante el desarrollo del trabajo, se llevará a cabo un análisis de la gestión pasiva y su tendiente crecida y robotización a través de la evolución digital y tecnológica; así como un estudio entre la gestión activa y pasiva en los fondos e instrumentos de inversión con el objetivo de comprobar cuál es la más eficiente. Teniendo en cuenta la actual situación, se mostrará la valoración general de las bolsas más representativas, la tendencia alcista de los últimos 10 años y los precios actuales a los que cotizan las empresas. Por último, sin olvidarnos de que la economía pertenece a la rama de las Ciencias Sociales, hablaremos del comportamiento del ser humano en relación con las finanzas personales, la eficiencia del mercado y cómo actuamos en las inversiones.; The objective of this research work will be, first, to analyze the methodology of investment in value from its inception until today, the investment vehicle managers and investors that apply it, and the historical results that the companies have had same compared to their benchmarks. On the other hand, an analysis ofthe sectors or types of companies where investors are focused at each moment will be carried out and, in addition, the biases they have towards certain values and sectors most punished by the market at each moment will be explained in which they contradict the consensus of the market through the fundamental individual analysis of each company and sector. This paper will also show how the value investment methodology, despite being more volatile or less profitable in the short term, is nevertheless the safest and most profitable in the long term, having a time horizon of investment 7 years superior to that of its comparable. In addition, the investment funds management industry in Spain will be discussed, carrying out a study of the profitability and behavior of the main vehicles with the highest money under the management of the country, and the percentage that belongs to management in value. lt will also differentiate the independent management of the management carried out by banking entities. During the development of the work, an analysis of the passive management and its growing trend and robotization will be carried out through the digital and technological evolution; as well as a study between the active and passive management of funds and investment instruments with the aim of checking which is the most efficient. Taking into account the current situation, it will show the general valuation of the most representative stock markets, the upward trend of the last 10 years and the current prices to which the companies are quoted. Finally, without forgetting that the economy belongs to the branch of Social Sciences, we will tal k about the behavior of the human being in relation to personal finances, the efficiency of the market and how we act in investments. Máster Universitario en Finanzas Tue, 01 Jan 2019 00:00:00 GMT http://hdl.handle.net/11531/53697 2019-01-01T00:00:00Z http://hdl.handle.net/11531/53696 Estudio de los mercados e instrumentos de derivados Perea Paizal, Luis Desde el surgimiento de los mercados de derivados, los trabajos desarrollados por Merton-BlackScholes marcaron un punto de inflexión en la historia de los derivados y en su futuro desde entonces. De forma paralela, el desarrollo exponencial en estos mercados y su efecto en la crisis financiera, aumentan el interés sobre esta materia. En el siguiente TFM se hará una breve introducción del complejo mundo de los derivados financieros las opciones, futuros y otros derivados financieros como los estructurados. Tras una breve introducción sobre el contexto y el marco actual, se analizará el riesgo para posteriormente realizar un recorrido por los diferentes inst:mmentos financieros anterionnente mencionados.; Since the emergence of derivatives markets, the studies developed by Merton-Black-Scholes marked an innflexion point in the history of derivatives and their future since then. At the same time, the exponential development in these markets and its effect on the financial crisis, increasing the interest on studying this subject. In the following TFM there will be a brief introduction of the complex world of financia! derivatives options, futures and other financia! derivatives such as stmctured product:s. After a brief introduction about the context and the cunent ti·amework, the risk will be analyzed to later make a tom through the different financia! instmments mentioned above. Máster Universitario en Finanzas Tue, 01 Jan 2019 00:00:00 GMT http://hdl.handle.net/11531/53696 2019-01-01T00:00:00Z http://hdl.handle.net/11531/53695 Liga Santander spanish football : economic-financial situation of its members and possible signs of accounting fraud Ojeda Hernández, Carlos The football industry has been showing throughout these years a great importance in the social and economic panorama moving massive economic figures. This Master thesis follows an explanatory and descriptive methodology who's aim is to describe the economic and financia! situation of the sector and its recent evolution, explore the fu lfilment of the accounting statement requirements in the accounts and reveal possible signs of accounting fraud. The principal results show that the teams of La Liga Santander have improved their economic and financia! situation during the period of years analysed, strengthening the equity, the solvency, the liquidity and the indebtness. On the other hand, for the season 16-17 the teams that haven presented the best economic and financia! situation are Athletic Club de Bilbao, Celta de Vigo and S.D Eibar. As a contrast, the teams that have presented the worst situation in economic and financia! terms are Valencia FC, Málaga FC and F.C Barcelona. With respect to t he possible signs of accounting fraud, the valuation of sports intanginble assets tends to a higher degree of subjectivity from a perspective point of view. Máster Universitario en Finanzas Tue, 01 Jan 2019 00:00:00 GMT http://hdl.handle.net/11531/53695 2019-01-01T00:00:00Z