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

The 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 issui...

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Author: ROBERTO J. SANTILLÁN SALGADO
Format: article
Status:Published version
Publication Date:2010
Country:México
Institution:Instituto Tecnológico y de Estudios Superiores de Monterrey
Repository:Redalyc-ITESM
OAI Identifier:oai:redalyc.org:21218551003
Online Access:https://www.redalyc.org/articulo.oa?id=21218551003
Access Level:Open access
Keyword:Administración y Contabilidad
IPOs long
run under
IPOs' short
performance
Privatization
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spelling STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)ROBERTO J. SANTILLÁN SALGADOAdministración y ContabilidadIPOs longrun underIPOs' shortperformancePrivatizationThe 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).Universidad ICESI2010info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdf0123-5923https://www.redalyc.org/articulo.oa?id=21218551003Estudios Gerenciales (Colombia) Num.117 Vol.26reponame:Redalyc-ITESMinstname:Instituto Tecnológico y de Estudios Superiores de Monterreyinstacron:ITESMenhttp://www.redalyc.org/revista.oa?id=212Estudios Gerencialesinfo:eu-repo/semantics/openAccessoai:redalyc.org:212185510032024-08-23T15:26:52Z
dc.title.none.fl_str_mv STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
title STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
spellingShingle STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
ROBERTO J. SANTILLÁN SALGADO
Administración y Contabilidad
IPOs long
run under
IPOs' short
performance
Privatization
title_short STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
title_full STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
title_fullStr STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
title_full_unstemmed STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
title_sort STOCK MARKET WEALTH-EFFECTS DURING PRIVATIZATION INITIAL PUBLIC OFFERS IN CHILE (1984-1989)
dc.creator.none.fl_str_mv ROBERTO J. SANTILLÁN SALGADO
author ROBERTO J. SANTILLÁN SALGADO
author_facet ROBERTO J. SANTILLÁN SALGADO
author_role author
dc.subject.none.fl_str_mv Administración y Contabilidad
IPOs long
run under
IPOs' short
performance
Privatization
topic Administración y Contabilidad
IPOs long
run under
IPOs' short
performance
Privatization
description The 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).
publishDate 2010
dc.date.none.fl_str_mv 2010
dc.type.none.fl_str_mv info:eu-repo/semantics/publishedVersion
info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv 0123-5923
https://www.redalyc.org/articulo.oa?id=21218551003
identifier_str_mv 0123-5923
url https://www.redalyc.org/articulo.oa?id=21218551003
dc.language.none.fl_str_mv en
language_invalid_str_mv en
dc.relation.none.fl_str_mv http://www.redalyc.org/revista.oa?id=212
dc.rights.none.fl_str_mv Estudios Gerenciales
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Estudios Gerenciales
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad ICESI
publisher.none.fl_str_mv Universidad ICESI
dc.source.none.fl_str_mv Estudios Gerenciales (Colombia) Num.117 Vol.26
reponame:Redalyc-ITESM
instname:Instituto Tecnológico y de Estudios Superiores de Monterrey
instacron:ITESM
instname_str Instituto Tecnológico y de Estudios Superiores de Monterrey
instacron_str ITESM
institution ITESM
reponame_str Redalyc-ITESM
collection Redalyc-ITESM
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,812455

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