Stock market wealth-effects during privatization initial public offers in chile (1984-1989) | Zendy

Roberto J. SantillánSalgado | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

Stock market wealth-effects during privatization initial public offers in chile (1984-1989)

Author(s) -

Roberto J. SantillánSalgado

Publication year - 2010

Publication title -

estudios gerenciales

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.144

H-Index - 12

eISSN - 2665-6744

pISSN - 0123-5923

DOI - 10.1016/s0123-5923(10)70134-0

Subject(s) - humanities , initial public offering , political science , stock price , stock market , geography , economics , monetary economics , art , biology , context (archaeology) , paleontology , archaeology , series (stratigraphy)

The aftermarket performance of eleven privatization Initial Public Offers (IPOs) in Chile during 1984-1989 is studied in this document, and a detailed description of the economic and political conditions that prevailed is provided. In particular, we discuss the operational details of the stock issuing mechanism, complemented with a statistical study on the IPOs’ Market Adjusted Returns. While the sample size is limited and does not support a significant external validity, the analysis confirms the presence of aftermarket performance patterns that are very similar to those observed in private and privatization IPOs reported elsewhere (Aggarwal, Leal and Hernández, 1993; Dewenter and Malatesta, 1997; Loughran, Ritter and Rydqvist, 1994; Perotti and Guney, 1993)

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research