We study the market price reaction and liquidity impact that firms experience when they are incorporated into the differentiated corporate governance listing segments of the Sao Paulo Stock Exchange. The Brazilian market is of special interest since it allows us to analyze the effect of improved...

(WP 06/04 Clave pdf) We compare trading costs between local stocks and their corresponding NYSE ADRs for Argentina, Brazil, Chile and Mexico.Results show that local stocks trading in Mexico and Chile exhibit higher costs than their ADRS,while Brazilian local stocks cost less. Argentina presents...

The purpose of this study is to analyze the impact of the level of corporate transparency on a market-based measure of shareholder value creation (Fernandez, 2002) during periods of financial crisis. Our sample consists of Spain's IBEX35 stock index constituents during the ten year period of...

We study the market price reaction and liquidity impact that firms experience when they are incorporated into the differentiated corporate governance listing segments of the Sao Paulo Stock Exchange. The Brazilian market is of special interest since it allows us to analyze the effect of improved...

We show that the announcement of SCM applications have a positive impact on the market value of firms using event study methodology. When SCM applications are disaggregated according to whether they are stand-alone SCM applications, or part of an enterprise system (SCM-ES) implementation, we...

We show that the announcement of SCM applications have a positive impact on the market value of firms using event study methodology. When SCM applications are disaggregated according to whether they are stand-alone SCM applications, or part of an enterprise system (SCM-ES) implementation, we...