Información asimétrica y precios diarios de acciones en Brasil

  • Denis Ichimura Graduate, Program in Management, Universidade Ibirapuera, São Paulo, Brazil. https://orcid.org/0000-0002-4686-4774
  • Raphael Videira Professor, School of International Affairs, ESPM, Sao Paulo, Brazil. https://orcid.org/0000-0003-2839-4542
  • Alexandre Ripamonti University IbirapuerFull Professor, Graduate Program in Management, Universidade Ibirapuera, São Paulo, Brazil. Professor, School of Advertising, ESPM, São Paulo, Brazila https://orcid.org/0000-0003-2022-6819
Palabras clave: precios de las acciones, informacion asimetrica, estimador Corwin-Schultz

Resumen

Este trabajo tuvo como objetivo analizar la asociación entre información asimétrica, medida a través del estimador Corwin-Schultz, y las cotizaciones bursátiles en el mercado de valores brasileño. Los datos diarios de 64 empresas, en un período de 10 diez años, se examinaron utilizando la técnica de cointegración de panel de Johansen-Fisher para evaluar la validez de una medida de información asimétrica en períodos más cortos que los estudios anteriores. Los resultados indican que la información asimétrica anticipa los precios de las acciones en un período de hasta dos días, de una manera teóricamente consistente. Las investigaciones futuras deberían controlar los resultados mediante variables financieras tradicionales.

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Publicado
2020-11-09
Cómo citar
Ichimura, D., Videira, R., & Ripamonti, A. (2020). Información asimétrica y precios diarios de acciones en Brasil. Estudios Gerenciales, 36(157), 465-472. https://doi.org/10.18046/j.estger.2020.157.3924
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Artículo de investigación