This paper aims to discover whether or not good corporate governance practices generate positive returns on the Lima Stock Exchange (LSE). The study examines two questions. First, does the announcement that a firm is in the good corporate governance index (GCGI) increase its stock price and...

Purpose: This paper aims to identify what are the moderating factors affecting the relationship between firms' adoption of international financial and reporting standards (IFRS) and the firm's opacity. Design/methodology/approach: This study uses the meta-analysis methodology from Hunter et al....

In this paper is assessed the importance of the level of financial integration in the costs of capital that the firms in the Latin American markets face. This relation is studied by means of a non balanced panel data model applied to 270 firms trading in six Latin American markets (Argentina,...

Traditional project valuation usually overlooks the important risk analysis process because it relies in the complete market assumption. In a complete market it will be possible to either find twin securities or elaborate a dynamic investment portfolio to replicate the project risk and payoff in...

This paper compares the main proposals that have been made in order to estimate discount rates in emerging markets. Seven methods are used to estimate the cost of equity capital in the case of global well-diversified investors; two methods are used to estimate it in the case of imperfectly...