Examinando por Materia "BOLSA DE VALORES - ÍNDICES BURSÁTILES"

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    El legado de la corrupción sobre la volatilidad en el mercado de valores
    (Universidad EAFIT, 2017) Paz Paz, Nicolás; N/A
    Volatility in the securities markets negatively affects investors and the economy in general, deteriorating the welfare of society -- One factor that has been ignored to explain it, despite its relevance, is the effect of the corruption of the country where the company was established -- The objective of this paper is to evaluate the effect of corruption, considering the volatility of the actions as a representation of the risk -- To do so, a relevant database of 3,028 companies of the main stock indexes of the world was constructed, with information of financial indicators to December of 2016 -- Using econometric techniques, such as ordinary least squares and instrumental variables, a significant and positive relationship between corruption and volatility was identified -- The results show that the effect of corruption on the stock market is not negligible, and that it should be seriously considered when conducting stock market analysis and volatility