Examinando por Autor "Agudelo, David"
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Ítem Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines(2015-01-23) Cortes, L.; Garcia, J.; Agudelo, David; Cortes, L.; Garcia, J.; Agudelo, David; Universidad EAFIT. Departamento de Economía y Finanzas; Estudios en Economía y Empresa (GEE)Ítem Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines(2015-01-23) Cortes, L.; Garcia, J.; Agudelo, David; Cortes, L.; Garcia, J.; Agudelo, David; Universidad EAFIT. Departamento de Economía y Finanzas; Finanzas y Banca (Gifyb)Ítem Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines(Universidad EAFIT, 2015-01-01) Cortés, Lina M.; García, John J.; Agudelo, David; lcortesd@eafit.edu.co; jgarcia@eafit.edu.co; dagude14@gmail.comThis study analyzes the effectof changes in corporate controlon the way shareholdersbenefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodologyof event study, including GARCH and OLS models, we find evidence that some selling companies obtain abnormal returns that are statisticallysignificant after the announcement of the M&A. However, when the merger is not strategic, the companies present statisticallysignificant negative abnormal returns. The resultsare not conclusive when analyzing the effecton the valueof the buying companies.