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Persistent link: https://www.econbiz.de/10003321901
Purpose - This article examines whether deviations from fundamental value or closed-end country fund's discounts or premiums forecast future share price returns or net asset returns. Design/methodology/approach - The main empirical (econometric) tool is a vector autoregressive (VAR) model. The...
Persistent link: https://www.econbiz.de/10013192203
This study analyzes how fund flows react to past performance in the dynamic Brazilian equity fund market over the period from 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...
Persistent link: https://www.econbiz.de/10011117150
El presente documento busca presentar los principales conceptos de riesgos financieros presentes en la banca; en particular, se trabajará el caso de un banco peruano, considerando aspectos tales como la gestión de riesgos, Basilea III y la crisis económica internacional. El caso se desarrolla...
Persistent link: https://www.econbiz.de/10010828307
El presente trabajo tiene como objetivo evaluar y cuantificar el riesgo cambiario en una empresa exporta- dora. Se inicia explicando el riesgo cambiario, seguido de un análisis cualitativo de volatilidad cambiaria del dólar versus el nuevo sol. Este análisis resulta relevante, debido a que...
Persistent link: https://www.econbiz.de/10010828310
We examine performance persistence in the large and growing Brazilian equity fund market from 2000 to 2012. We find a significant risk-adjusted spread between a portfolio of top- and bottom-performing funds, which supports the idea that performance persists. This spread remains after controlling...
Persistent link: https://www.econbiz.de/10010812108
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,...
Persistent link: https://www.econbiz.de/10011859376
This paper analyzes the dynamics ofthe American Depositary Receipt (ADR) of a Colombian bank (Bancolombia) in relation to its pricing factors (underlying (preferred) shares price, exchange rate and the US market index). The aim is to test if there is a long-term relation among these variables...
Persistent link: https://www.econbiz.de/10005769499
Este documento analiza la dinámica de los Recibos de Deposito Americanos (ADR) de un banco colombiano (Bancolombia) en relación con los factores que inciden en su precio (precio de las acciones (preferenciales) subyacentes, la tasa de cambio y el índice del mercado accionario de Estados...
Persistent link: https://www.econbiz.de/10005262913
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,...
Persistent link: https://www.econbiz.de/10013001634