Impacto de las licitaciones de nuevos afiliados al SPP en la rentabilidad de las AFP, Perú (2012-2022)
No Thumbnail Available
Date
2024
Journal Title
Journal ISSN
Volume Title
Publisher
Universidad Nacional de Trujillo
Abstract
La presente investigación es de tipo aplicada, con un diseño no experimental descriptivo, analiza el impacto de las licitaciones de nuevos afiliados al Sistema Privado de Pensiones en la rentabilidad de las Administradoras de Fondos de Pensiones (AFP) en Perú, entre los años 2012 y 2022. Se usaron los estados financieros auditados de Habitat, Integra, Prima y Profuturo, permitiendo calcular el retorno sobre el patrimonio (ROE) y el Retornos sobre los Activos (ROA) de cada AFP antes y después de las licitaciones. También se realizó una evaluación comparativa entre las AFP que ganaron y las que no ganaron las cinco licitaciones, y se analizaron indicadores como el índice DuPont, la utilidad neta y los ingresos brutos para obtener resultados detallados. Los resultados muestran que las licitaciones impactaron negativamente en la rentabilidad de las AFP que operaban antes y después de las licitaciones; sin embargo, Habitat no experimentó un efecto negativo en su rentabilidad debido a las licitaciones. Además, se determinó que la rentabilidad de las AFP adjudicatarias fue menor en comparación con las que no obtuvieron la adjudicación, demostrando que ganar o no las licitaciones no afecta significativamente el ROE y ROA de las AFP.
ABSTRACT The present research is applied in nature, with a non-experimental descriptive design. It analyzes the impact of new affiliate auctions in the Private Pension System on the profitability of Pension Fund Administrators (AFP) in Peru between 2012 and 2022. Audited financial statements of Habitat, Integra, Prima, and Profuturo were used, allowing for the calculation of Return on Equity (ROE) and Return on Assets (ROA) for each AFP before and after the auctions. A comparative evaluation was also conducted between the AFPs that won and those that did not win the five auctions, and indicators such as the DuPont index, net income, and gross income were analyzed to obtain detailed results. The results show that the auctions negatively impacted the profitability of the AFPs that operated before and after the auctions; however, Habitat did not experience a negative effect on its profitability due to the auctions. Additionally, it was determined that the profitability of the awarded AFPs was lower compared to those that did not obtain the award, demonstrating that winning or not winning the auctions does not significantly affect the ROE and ROA of the AFPs.
ABSTRACT The present research is applied in nature, with a non-experimental descriptive design. It analyzes the impact of new affiliate auctions in the Private Pension System on the profitability of Pension Fund Administrators (AFP) in Peru between 2012 and 2022. Audited financial statements of Habitat, Integra, Prima, and Profuturo were used, allowing for the calculation of Return on Equity (ROE) and Return on Assets (ROA) for each AFP before and after the auctions. A comparative evaluation was also conducted between the AFPs that won and those that did not win the five auctions, and indicators such as the DuPont index, net income, and gross income were analyzed to obtain detailed results. The results show that the auctions negatively impacted the profitability of the AFPs that operated before and after the auctions; however, Habitat did not experience a negative effect on its profitability due to the auctions. Additionally, it was determined that the profitability of the awarded AFPs was lower compared to those that did not obtain the award, demonstrating that winning or not winning the auctions does not significantly affect the ROE and ROA of the AFPs.
Description
Keywords
AFP, Licitaciones, Rentabilidad