Purpose: This paper aims to identify what are the moderating factors affecting the relationship between firms' adoption of international financial and reporting standards (IFRS) and the firm's opacity. Design/methodology/approach: This study uses the meta-analysis methodology from Hunter et al....

This paper compares the main proposals that have been made in order to estimate discount rates in emerging markets. Seven methods are used to estimate the cost of equity capital in the case of global well-diversified investors; two methods are used to estimate it in the case of imperfectly...

Different studies in developed capitalmarkets have found positive abnormalreturns of at least 15% during theannouncement date of a tender offer.Although there are almost no studiesfor South American stock markets,some studies reported positive abnormalreturns, ranging from 25% to50%, related to...

Existe evidencia en mercados desarrolladosque indica la existencia deun rendimiento anormal positivo yun posible incremento de la liquidezaccionaria en las fechas cercanas alanuncio de una partición accionariao stock split. El primer fenómenose debe a que el anuncio de unapartición accionaria...

Traditional project valuation usually overlooks the important risk analysis process because it relies in the complete market assumption. In a complete market it will be possible to either find twin securities or elaborate a dynamic investment portfolio to replicate the project risk and payoff in...

En este trabajo, se argumenta que para valorar empresas o proyectos de inversion (inversiones reales) en mercados emergentes es necesario considerar cinco caracteristicas que poseen estos mercados: la existencia de rendimientos bursatiles muy volatiles, la carencia de informacion historica...

En la actualidad es innegable la importancia del riesgo pais y del riesgo soberano como indicadores para monitorear la percepcion de riesgo de los inversionistas internacionales y para que empresarios extranjeros y locales evaluen su nivel de exposicion a este riesgo total al invertir en...

This paper compares the main proposals that have been made in order to estimate discount rates in emerging markets. Seven methods are used to estimate the cost of equity capital in the case of global well-diversified investors; two methods are used to estimate it in the case of imperfectly...

An analysis was made of then effect of the Tender Offer Law in Chile, and of the related situation of five countries with a more developed market than the Chilean one, reaching the conclusion that in order to successfully implement a Tender Offer Law it is necessary to bear in mind that the...

Purpose: This paper aims to identify what are the moderating factors affecting the relationship between firms' adoption of international financial and reporting standards (IFRS) and the firm's opacity. Design/methodology/approach: This study uses the meta-analysis methodology from Hunter et al....