How does information disclosure affect liquidity? Evidence from an Emerging Market

Cross-sectional models positively relate firm information disclosure with stock liquidity, but dynamic models in news releases days show an opposite relation. We address this puzzle by studying the effects of information arrival on liquidity and its determinants. We use trade and quote data from Colombia for 2015 and 2016, along with the complete database of news releases as reported by companies to the regulator. The results of Panel data and PVAR models suggest that news releases increase both informed and uninformed trading. All in all, the temporal negative effect of news releases on liquidity is explained by increasing asymmetric information

Visión Empresarial de la Institución Educativa

La empresa es ante todo una unidad satisfactoria de necesidades de la comunidad, mediante la generación de bienes y servicios, y por los que ella le retribuye en términos de utilidades. Una de las necesidades básicas que debe satisfacer toda comunidad es la de la educación de sus miembros. Ella constituye un proceso de primer orden que debe gerenciarse de acuerdo con as exigencias de las nuevas realidades. Colombia está frente a uno de los más grandes retos de su historia: Alcanzar altos niveles de competitividad que le permitan avanzar en un proceso de desarrollo armónico y sostenido

Visión Empresarial de la Institución Educativa

La empresa es ante todo una unidad satisfactoria de necesidades de la comunidad, mediante la generación de bienes y servicios, y por los que ella le retribuye en términos de utilidades. Una de las necesidades básicas que debe satisfacer toda comunidad es la de la educación de sus miembros. Ella constituye un proceso de primer orden que debe gerenciarse de acuerdo con as exigencias de las nuevas realidades. Colombia está frente a uno de los más grandes retos de su historia: Alcanzar altos niveles de competitividad que le permitan avanzar en un proceso de desarrollo armónico y sostenido

Young Audiovisual Audiences in Colombia: Under the Veneer of Fragmentation and Multiscreens

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Liquefaction Resistance of Gravelly Soils

Liquefaction assessments of gravels and soils that contain a large gravel fraction are difficult. Undisturbed (intact) sampling of these soils is problematic and laboratory testing carried out on reconstituted samples or on frozen samples obtained from the field is time consuming, expensive, and interpretation of the results requires considerable judgment. Because of these and other issues, for a remote site in British Columbia, Canada (aka “Study Site”), it was decided to carry out the liquefaction potential assessment using existing published relationships and case history data on similar soils. This case history describes the approach utilized, including material mechanical properties, measured shear wave velocities and insitu density data obtained from shallow test pits excavated across the study site. Comparisons to published data on similar soils are discussed. To assess the liquefaction potential of the gravels, normalized shear wave velocity data were related to void ratio. The void ratio was then related to the CRR using published relationships on a similar gravelly soil tested in the laboratory. The liquefaction potential was assessed in the conventional manner comparing the cyclic resistance ratio (after appropriate consideration of correction factors used in laboratory cyclic testing) to the seismic demand (CSR). The approach described in the case history generalizes the methodology for application to other gravel deposits at other sites