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STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)

dc.creatorROBERTO J. SANTILLÁN SALGADO
dc.date2010
dc.date.accessioned2019-10-08T20:34:16Z
dc.date.available2019-10-08T20:34:16Z
dc.identifierhttp://www.redalyc.org/articulo.oa?id=21218551003
dc.identifier.urihttp://hdl.handle.net/11285/634717
dc.descriptionThe aftermarket performance of eleven privatization Initial Public Offers (IPOs) in Chile during 1984-1989 is studied in this document, and a detailed description of the economic and political conditions that prevailed is provided. In particular, we discuss the operational details of the stock issuing mechanism, complemented with a statistical study on the IPOs' Market Adjusted Returns. While the sample size is limited and does not support a significant external validity, the analysis confirms the presence of aftermarket performance patterns that are very similar to those observed in private and privatization IPOs reported elsewhere (Aggarwal, Leal and Hernández, 1993; Dewenter and Malatesta, 1997; Loughran, Ritter and Rydqvist, 1994; Perotti and Guney, 1993).
dc.formatapplication/pdf
dc.languageen
dc.publisherUniversidad ICESI
dc.relationhttp://www.redalyc.org/revista.oa?id=212
dc.rightsEstudios Gerenciales
dc.sourceEstudios Gerenciales (Colombia) Num.117 Vol.26
dc.subjectAdministración y Contabilidad
dc.subjectPrivatization
dc.subjectIPOs' short-run underpricing
dc.subjectIPOs long-run under-performance
dc.titleSTOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
dc.typeArtículo científico


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