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The Impact of Expropriations on the Stock Prices of the Parent Companies: Sell on the rumor, buy on the news?

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dc.contributor.authorRestrepo, Diana
dc.contributor.authorPeña, Juan Ignacio
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creator.emaildrestr90@ea t.edu.co
dc.date.accessioned2016-08-08T14:13:34Z
dc.date.available2016-08-08T14:13:34Z
dc.date.issued2016-06-01
dc.description.abstractWe measure the impact of warnings of expropriation and of forced divestments of pri- vate property on the stock prices of the parent company. We use a unique database of 116 events in 12 countries from 2005 to 2013. Our results show signi cant negative effects on the stock prices of different kinds of warnings; the largest effect is when the warning takes the form of a transitory permit revocation. In the case of forced divestments, we nd a signi cant negative impact when there is a permanent revocation of a permit. However, nationalizations seem to generate a positive market reaction.eng
dc.format.mimetypeapplication/pdf
dc.identifier.instnameinstname:Universidad EAFIT
dc.identifier.jelG14
dc.identifier.jelH13
dc.identifier.reponamereponame:Repositorio Institucional Universidad EAFIT
dc.identifier.repourlrepourl:https://repository.eafit.edu.co
dc.identifier.urihttps://hdl.handle.net/10784/9014
dc.language.isoeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentCentro Valor Públicospa
dc.publisher.facultyEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordExpropriation riskspa
dc.subject.keywordNationalizationspa
dc.subject.keywordEvent studyspa
dc.subject.keywordStock Marketspa
dc.titleThe Impact of Expropriations on the Stock Prices of the Parent Companies: Sell on the rumor, buy on the news?eng
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.coarhttp://purl.org/coar/resource_type/c_8042
dc.type.localDocumento de trabajo de investigaciónspa
dc.type.redcolhttp://purl.org/redcol/resource_type/WP
dc.type.versioninfo:eu-repo/semantics/draft
dspace.entity.typePublication

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