RESUMEN: El siguiente trabajo tiene como propósito realizar una síntesis a cerca del Mercado Alternativo Bursátil, mercado creado con motivo del peso que ofrecen las pequeñas y medianas empresas a la economía española, pues son una pieza clave tanto en la aportación al PIB como en la generación de empleo.
El estudio trata de conceptualizar este mercado, hondando en sus principales características y normativas, además de ofrecer ejemplos de otros mercados internacionales.
Para llevar a cabo un análisis más exhausto se describen los principales puntos a favor y hándicaps del mercado, así como su evolución en sus casi 8 años de funcionamiento y el futuro que augura en la economía española.
Dando un enfoque empírico al estudio, se analiza el shock en las cotizaciones de las empresas en el año 2014, cuando se descubre el fraude generado por la empresa Gowex.
ABSTRACT: The following tesis is about the alternative Investment Market in Spain, known as “Mercado Alternativo Bursátil (MAB)”, a way of financing small and medium sized enterprises(SMEs).
In Spain, SMEs represents 99% of the total amount of national companies. They are an important part of the economy, so they contribute two-thirds of the total GDP. Furthermore, these kind of enterprises constitute an 80% of the employment.
Looking at the importance of this kind of enterprises, it will be necessary to accomodate them on a special Market that keeps in mind their characteristics and be flexible with the requirements.
Therefore, this tesis is proposed to analyze the MAB, first of all by doing a conceptual analysis of their main characteristics and performance, focusing then on the different companies that compound the alternative Market and dividing them by sectors of activities.
An important part of the paper is to analyze the advantages and disadvantages that this Market offer to the agents of the enconomy, and the experience that this Market borned on 2008 have nowadays. To conclude,It is described the future that this Market is supossed to be.
To give an empirical approach, it is analyzed the shock in the quotes of the companies in 2014, when it was discovered the trickery done by Gowex company.
