In this study we analyse the effect of stock splits on stocks¿ trading activity using intraday data from a sample of 46 stock splits from the Spanish stock market. In particular, we study changes to trading activity, trading composition, the information asymmetry of stocks, the distribution of...

This paper examines the empirical behaviour of stock prices around the ex dates of stock splits in order to detect anomalous returns. Also, it is investigated the determinant factors of the split size, its effects on the liquidity and the influence of the market microstructure in the abnormal...

Spanish Abstract: Este artículo evalúa la consistencia teórica y metodológica del nuevo argumento austriaco contra la posibilidad del cálculo económico en el socialismo desarrollado por la nueva generación de autores austriacos. Primero describe la evo-lución de la crítica austriaca al...

This paper discusses the economic crises in Spain, from the Great Depression to current recession. Institutional economics offers the theoretical framework for identifying and analyzing the institutions and the rules of the game that have triggered or aggravated the economic crises. This work...

The purpose of this work is to contribute to a critical analysis of what has been called 21st century socialism. Socialist regimes of the 20th century distorted the theoretical Marxian economic model partly because of the impossibility of socialist economic calculation. Allin Cottrell and Paul...

The collapse of previously existing socialism was due to causes embedded in its economic mechanism, which are not inherent in all possible socialisms. The article argues that Marxist economic theory, in conjunction with information technology, provides the basis on which a viable socialist...

Empirically, financialisation analysis can be addressed from either a macroeconomic or micr oeconomic perspective. In aggregate terms, the former implies observing the growing influence exerted by financial transactions, overly dominant financial markets and alterations to industrial economy...

Do the persistence-predictability of earnings and reputation, affects dividend policy? This study provides new elements to enrich the debate around the question. To this end, a data panel of companies listed in Latin America is structured with financial information obtained in the Datastream...

Spanish Abstract:En esta monografía se estudia la política de dividendos en la empresa: El valor de mercado de las acciones de la empresa, la irrelevancia de la política de dividendos, la relevancia de la política de dividendos, el efecto de los impuestos, otras teorías sobre la política...

Spanish Abstract: La política de dividendos en una organización está relacionada con las decisiones de inversión y endeudamiento, claves para su permanencia en el tiempo. El objetivo de este documento es examinar la evidencia empírica y desarrollo teórico en políticas de dividendos a...