The Impact of Expropriations on the Stock Prices of the Parent Companies: Sell on the rumor, buy on the news?
| dc.contributor.author | Restrepo, Diana | |
| dc.contributor.author | Peña, Juan Ignacio | |
| dc.contributor.eafitauthor | drestr90@ea t.edu.co | |
| dc.coverage.spatial | Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees | eng |
| dc.date.accessioned | 2016-08-08T14:13:34Z | |
| dc.date.available | 2016-08-08T14:13:34Z | |
| dc.date.issued | 2016-06-01 | |
| dc.description.abstract | We 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.identifier.jel | G14 | |
| dc.identifier.jel | H13 | |
| dc.identifier.uri | http://hdl.handle.net/10784/9014 | |
| dc.language.iso | eng | eng |
| dc.publisher | Universidad EAFIT | spa |
| dc.publisher.department | Escuela de Economía y Finanzas | spa |
| dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
| dc.rights.local | Acceso abierto | spa |
| dc.subject.keyword | Expropriation risk | spa |
| dc.subject.keyword | Nationalization | spa |
| dc.subject.keyword | Event study | spa |
| dc.subject.keyword | Stock Market | spa |
| dc.title | The Impact of Expropriations on the Stock Prices of the Parent Companies: Sell on the rumor, buy on the news? | eng |
| dc.type | workingPaper | eng |
| dc.type | info:eu-repo/semantics/workingPaper | eng |
| dc.type.hasVersion | draft | eng |
| dc.type.local | Documento de trabajo de investigación | spa |
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