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...