We analyze the significance of 41 asset pricing anomalies in Latin America. We examine economic significance via portfolio simulations that dilute the effect of microcaps. To avoid reporting false discoveries, we employ a multiple hypothesis testing framework. Few anomalies are economically...

This study aims to determine the impact of the Latin American Integrated Market (MILA) start-up in the main indicators of the stock markets of the countries that conform it (Chile, Colombia, and Peru).At the end, several indicators were reviewed to measure the impact on profitability, risk,...

Spanish Abstract: El objetivo del presente estudio es analizar la evolución y desempeño del sistema financiero peruano en los últimos años y el rol de la reputación bancaria en él, tomando como base diversos indicadores tales como el valor de índice Merco y la solvencia financiera. El...

The purpose of the paper is to show an initial literature review of risk management and shows the evolution of it over time, considering the use of statistics tools in the portfolio theory, exploring the beginnings of Keynes, the most important risks concepts (projects, COSO-ERM, financial risk)...

This document is the beginning of an investigation of how the implementation of social responsibility policies could help to reduce operational risk in several organizations that provide services that are defined by the stakeholders as critical stakeholders under standards the recommendations of...

This paper analyzes how fund flows react to past performance in the dynamic Brazilian equity fund market over the period 2001 to 2012. The study also tests for a "smart money" effect (Zheng, 1999), or whether funds that receive more money subsequently outperform those that receive less money. We...

This paper aims to show the relationship between interest rates used in the Peruvian financial market in national currency (interbank rate) and foreign currency (reference: prime rate) and future exchange rate or term (forwards by name in English) for the period from January 2004 to July 2009....