Civil unrest and herding behavior: evidence in an emerging market

This investigation is the first to analyze how civil unrest impacts herding behavior in an emerging economy. Using series of prices and daily traded volumes of the companies that make up the IGPA of the Santiago Stock Exchange between 2010 and 2020, it was found that civil unrest causes reverse herding behavior in the Chilean stock market. Thus, herding behavior and inverse herding behavior are more complex behaviors than the financial literature has reported to date, especially in a period of civil unrest. Different robustness tests support the findings

Stock exchange mergers : a dynamic correlation analysis on Euronext

This article investigates the role of Stock Exchange Mergers on stock market return co- movements. Using a dynamic conditional correlation model proposed by Engle (J Bus Econ Stat 20:339–350, 2002), the Euronext Stock Exchange was analyzed, and findings point to an increase in correlation levels of stock return among Euronext unitholders. In short, Euronext stock exchange mergers increased interdependency among these markets, which means that the possibility of diversifying investment risk in these markets is reduced.info:eu-repo/semantics/publishedVersio

Evidence Of Chaotic Behavior In American Stock Markets

This article validates the chaotic behavior in the Argentinean, Brazilian, Canadian, Chilean, American, Peruvian and Mexican Stock Markets using the MERVAL, BOVESPA, S&P TSX COMPOSITE, IPSA, IGPA, S&P 500, DOW JONES INDUSTRIALS, NASDAQ, IGBVL and IPC Stock Indexes respectively. The results of different techniques and methods like: Graphic Analysis, Recurrence Analysis, Temporal Space Entropy, Hurst Coefficient, Lyapunov Exponential and Correlation Dimension support the hypothesis that the stock markets behave in a chaotic way and rejected the hypothesis of randomness. Our conclusion validates the use of prediction techniques in those stock markets. It’s remarkable the result of the Hurst Coefficient Technique, that in average was of 0,75 for the indexes of this study which would justify the use of ARFIMA models among others for the prediction of such series.Chaos Theory; Recurrence Analysis; Temporal Space Entropy; Hurst Coefficient; Lyapunov Exponential; Correlation Dimension; BDS Test

Evidencia De Comportamiento Caótico En Indices Bursátiles Americanos

This article validates the chaotic behavior in the Argentinean, Brazilian, Canadian, Chilean, American, Peruvian and Mexican Stock Markets using the MERVAL, BOVESPA, S&P TSX COMPOSITE, IPSA, IGPA, S&P 500, DOW JONES INDUSTRIALS, NASDAQ, IGBVL and IPC Stock Indexes respectively. The results of different techniques and methods like: Graphic Analysis, Recurrence Analysis, Temporal Space Entropy, Hurst Coefficient, Lyapunov Exponential and Correlation Dimension support the hypothesis that the stock markets behave in a chaotic way and rejected the hypothesis of randomness. Our conclusion validates the use of prediction techniques in those stock markets. It’s remarkable the result of the Hurst Coefficient Technique, that in average was of 0,75 for the indexes of this study which would justify the use of ARFIMA models among others for the prediction of such series

EFECTO FIN DE SEMANA Y FIN DE MES EN EL MERCADO BURSATIL CHILENO

The present work corroborates the existence of two anomalies that question the hypothesis of efficient markets in the Chilean stock market, these are the “effect weekend” or “effect monday” and the “effect month end”. Using the daily values of closing of stock-exchange index IPSA, and following the methodology used by Kenneth R. French, the hypotheses “Trading Time” and “Calendar Time” were checked to contrast the “effect weekend”. In order to contrast the “effect month end” it was made an analysis of averages and variances and, later, a study of temporary windows

EFECTO FIN DE SEMANA Y FIN DE MES EN EL MERCADO BURSATIL CHILENO

The present work corroborates the existence of two anomalies that question the hypothesis of efficient markets in the Chilean stock market, these are the “effect weekend” or “effect monday” and the “effect month end”. Using the daily values of closing of stock-exchange index IPSA, and following the methodology used by Kenneth R. French, the hypotheses “Trading Time” and “Calendar Time” were checked to contrast the “effect weekend”. In order to contrast the “effect month end” it was made an analysis of averages and variances and, later, a study of temporary windows

EFECTO FIN DE SEMANA Y FIN DE MES EN EL MERCADO BURSATIL CHILENO

The present work corroborates the existence of two anomalies that question the hypothesis of efficient markets in the Chilean stock market, these are the “effect weekend” or “effect monday” and the “effect month end”. Using the daily values of closing of stock-exchange index IPSA, and following the methodology used by Kenneth R. French, the hypotheses “Trading Time” and “Calendar Time” were checked to contrast the “effect weekend”. In order to contrast the “effect month end” it was made an analysis of averages and variances and, later, a study of temporary windows

International diversification, ownership structure and performance in an emerging market: evidence from Chile

This research analyzes the impact of international diversification on the performance of Chilean exporting firms. Considering a sample of 47 companies listed on the Santiago Stock Exchange during the period 2003–2013, we found an international diversification discount. Secondly, when investigating the relationship between international diversification and performance, we found that they are related through an inverted U curve. Finally, we investigated how the ownership structure moderates the relationship between international diversification and performance, finding that the ownership concentration and pyramidal ownership positively impacts the performance of companies initiating international diversification strategies; and that the business groups’ affiliation negatively impacts in the international diversificationperformance relationship

Plan estratégico de responsabilidad social empresarial para la empresa Plantar Colombia LTDA a partir de la interacción con los pilares fundamentales de la norma ISO 26000

Apropiar la Responsabilidad Social Empresarial en las organizaciones genera impactos positivos en diferentes aspectos, enfocados a la productividad y sostenibilidad. A través del diagnóstico aplicado a la empresa Plantar Colombia LTDA. y, conforme a los parámetros establecidos en la Norma ISO 26000, cuya finalidad busca integrar la responsabilidad social empresarial mediante un comportamiento ético-transparente que contribuya al desarrollo sostenible; se desarrolla un plan de acción y seguimiento teniendo en cuenta los resultados obtenidos en la aplicación del diagnóstico, en el que se identificaron problemáticas sociales y ambientales que pueden llegar afectar las actividades, productividad y reputación de Plantar Colombia LTDA. Partiendo de la conceptualización y características de la Gerencia Estratégica y Responsabilidad Social Empresarial (RSE), desde una perspectiva relacionada con la gestión organizacional, se realiza un diagnóstico cuyos resultados evidencian problemas y objetivos relacionados con las variables de medio ambiente y prácticas laborales, por último, se diseña un plan de acción y seguimiento con el fin de fortalecer los procesos de Gerencia Estratégica y Responsabilidad Social Empresarial en Plantar Colombia LTDA.Appropriating Corporate Social Responsibility in organizations generates positive impacts in different aspects, focused on productivity and sustainability. Through the diagnosis applied to the company Plantar Colombia LTDA. and, in accordance with the parameters established in the ISO 26000 Standard, whose purpose seeks to integrate corporate social responsibility through ethical-transparent behavior that contributes to sustainable development; An action and follow-up plan is developed taking into account the results obtained in the application of the diagnosis, in which social and environmental problems were identified that may affect the activities, productivity and reputation of Plantar Colombia LTDA. Starting from the conceptualization and characteristics of Strategic Management and Corporate Social Responsibility, from a perspective related to organizational management, a diagnosis is made whose results show problems and objectives related to environmental variables and labor practices, finally, it is designed an action and follow-up plan in order to strengthen the processes of Strategic Management and Corporate Social Responsibility in Plantar Colombia LTDA