Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.

27 Páginas.

Autores:: García Pulido, José Felipe

Tipo de recurso:

Fecha de publicación:: 2016

Institución:: Universidad de la Sabana

Repositorio:: Repositorio Universidad de la Sabana

Idioma:: spa

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dc.title.es_CO.fl_str_mv	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
spellingShingle	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title_short	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title_full	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title_fullStr	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title_full_unstemmed	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
title_sort	Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.
dc.creator.fl_str_mv	García Pulido, José Felipe
dc.contributor.advisor.none.fl_str_mv	Pedraza Morales, Álvaro Enrique
dc.contributor.author.none.fl_str_mv	García Pulido, José Felipe
description	27 Páginas.
publishDate	2016
dc.date.accessioned.none.fl_str_mv	2016-12-14T21:53:21Z
dc.date.available.none.fl_str_mv	2016-12-14T21:53:21Z
dc.date.created.none.fl_str_mv	2016-12-14
dc.date.issued.none.fl_str_mv	2016
dc.type.es_CO.fl_str_mv	bachelorThesis
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dc.type.hasVersion.none.fl_str_mv	Tesis de pregrado
dc.identifier.citation.none.fl_str_mv	Banerjee, A. (1992) A simple model of herd behavior, The Quarterly Journal of Economics, 108(3),797. Barber, B. M., & Odean, T. (2001). Boys will be Boys : Gender , Overconfidence , and Common Stock Investment, The Quarterly Journal of Economics, 116(1), 261–292. Barber, B. M., & Odean, T. (2011). The Behavior of Individual Investors. Handbook of the Economics of Finance, 2013, 2,1533-1570. Dvořák, T. (2005). Do Domestic Investors Have an Information Advantage? Evidence from Indonesia, The Journal of Finance, 60(2), 817-839 Dyck, A. Morse, A. & Zingales,L. (2013). How pervasive is corporate fraud?, Rotman School of Management Working Paper No. 2222608 Engelen, P. J. (2012). What is the reputational cost of a dishonest CEO? Evidence from US illegal insider trading. CESifo Economic Studies, 58, 140-163. Gaitán, R. (2011). Gobierno corporativo en Colombia. Tendencias actuales. AD-Minister, 15, 137–153. Giannetti, M., & Wang, T. Y. (2016). Corporate scandals and household stock market participation. The journal of finance. Accepted author manuscript. Gómez, J. & Melo, L. (2013). Efectos de “ ángeles caídos ” en el mercado accionario colombiano: Estudio de eventos del caso Interbolsa. Ensayos sobre Política Económica, 32, 23- 27 Gompers, P. A., Ishii, J. L. & Metrick, A. (2003). “Corporate governance and equity prices”, Quarterly Journal of Economics, 118(1), 107- 155. Grinblatt, M. & Keloharju, M. (2001), What Makes Investors Trade?. The Journal of Finance, (56), 589–616. Guiso, L., Sapienza, P. & Zingales, L. (2008), Trusting the stock market, Journal of Finance, 63, 2557–2600. Hoffmann, A., Post, T. & Pennings, J. (2013). Individual investor perceptions and behavior during the financial crisis. Journal of Banking and Finance, 37, 60-74. Hong H., Kubik J. D. & Jeremy S. (2004), Social Interaction and Stock- Market Participation, Journal of Finance, 59, 137-163. Kahneman, D. & Tversky, A. (2007). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2), 263–292 Kang, J. & Stulz, R. (1997). Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan. Journal of Financial Economics, 46(1), 3–28. Karpoff, J., Lee, S. & Gerald S. (2008). The Cost to Firms of Cooking the Books, Journal of Financial and Quantitative Analysis, 43 (3), 581–612 Karpoff, J. M., & J. R. Lott, Jr., (1993). The Reputational Penalty Firms Bear from Committing Criminal Fraud. The Journal of Law and Economics, 36(2), 757-802 Li, G. (2014). Information Sharing and Stock Market Participation: Evidence from Extended Families. Review of Economics and Statistics, 96(1), 151-160. Manrrique, D. (2014). Insumos para la reforma del Colombian Corporate Governance : Enfoque Interbolsa. Pensamiento Jurídico, 40, 189–226 Parkash, R., Awais, M., & Warraich, U. A. (2014). Do Socio-Economic factors really Influence risk taking Behavior of individual Investors? Research Journal of Management Sciences Res. J. Management Sci, 3(6), 2319–1171. Philippas, N., Economou, F., Babalos, V., & Kostakis, A. (2013). Herding behavior in REITs: Novel tests and the role of financial crisis. International Review of Financial Analysis, 29, 166–174. Statman, M., Thorley, S., Vorkink, K., (2014). Investor Overconfidence and Trading Volume Investor Overconfidence and Trading Volume, 19(4), 1531–1565. Van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449–472. Kumar, A. (2009). Who gambles in the Stock Market?. The Journal of Finance, 64(4), 1889-1933.
dc.identifier.uri.none.fl_str_mv	http://hdl.handle.net/10818/29174
dc.identifier.local.none.fl_str_mv	263124 TE08815
identifier_str_mv	Banerjee, A. (1992) A simple model of herd behavior, The Quarterly Journal of Economics, 108(3),797. Barber, B. M., & Odean, T. (2001). Boys will be Boys : Gender , Overconfidence , and Common Stock Investment, The Quarterly Journal of Economics, 116(1), 261–292. Barber, B. M., & Odean, T. (2011). The Behavior of Individual Investors. Handbook of the Economics of Finance, 2013, 2,1533-1570. Dvořák, T. (2005). Do Domestic Investors Have an Information Advantage? Evidence from Indonesia, The Journal of Finance, 60(2), 817-839 Dyck, A. Morse, A. & Zingales,L. (2013). How pervasive is corporate fraud?, Rotman School of Management Working Paper No. 2222608 Engelen, P. J. (2012). What is the reputational cost of a dishonest CEO? Evidence from US illegal insider trading. CESifo Economic Studies, 58, 140-163. Gaitán, R. (2011). Gobierno corporativo en Colombia. Tendencias actuales. AD-Minister, 15, 137–153. Giannetti, M., & Wang, T. Y. (2016). Corporate scandals and household stock market participation. The journal of finance. Accepted author manuscript. Gómez, J. & Melo, L. (2013). Efectos de “ ángeles caídos ” en el mercado accionario colombiano: Estudio de eventos del caso Interbolsa. Ensayos sobre Política Económica, 32, 23- 27 Gompers, P. A., Ishii, J. L. & Metrick, A. (2003). “Corporate governance and equity prices”, Quarterly Journal of Economics, 118(1), 107- 155. Grinblatt, M. & Keloharju, M. (2001), What Makes Investors Trade?. The Journal of Finance, (56), 589–616. Guiso, L., Sapienza, P. & Zingales, L. (2008), Trusting the stock market, Journal of Finance, 63, 2557–2600. Hoffmann, A., Post, T. & Pennings, J. (2013). Individual investor perceptions and behavior during the financial crisis. Journal of Banking and Finance, 37, 60-74. Hong H., Kubik J. D. & Jeremy S. (2004), Social Interaction and Stock- Market Participation, Journal of Finance, 59, 137-163. Kahneman, D. & Tversky, A. (2007). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2), 263–292 Kang, J. & Stulz, R. (1997). Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan. Journal of Financial Economics, 46(1), 3–28. Karpoff, J., Lee, S. & Gerald S. (2008). The Cost to Firms of Cooking the Books, Journal of Financial and Quantitative Analysis, 43 (3), 581–612 Karpoff, J. M., & J. R. Lott, Jr., (1993). The Reputational Penalty Firms Bear from Committing Criminal Fraud. The Journal of Law and Economics, 36(2), 757-802 Li, G. (2014). Information Sharing and Stock Market Participation: Evidence from Extended Families. Review of Economics and Statistics, 96(1), 151-160. Manrrique, D. (2014). Insumos para la reforma del Colombian Corporate Governance : Enfoque Interbolsa. Pensamiento Jurídico, 40, 189–226 Parkash, R., Awais, M., & Warraich, U. A. (2014). Do Socio-Economic factors really Influence risk taking Behavior of individual Investors? Research Journal of Management Sciences Res. J. Management Sci, 3(6), 2319–1171. Philippas, N., Economou, F., Babalos, V., & Kostakis, A. (2013). Herding behavior in REITs: Novel tests and the role of financial crisis. International Review of Financial Analysis, 29, 166–174. Statman, M., Thorley, S., Vorkink, K., (2014). Investor Overconfidence and Trading Volume Investor Overconfidence and Trading Volume, 19(4), 1531–1565. Van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449–472. Kumar, A. (2009). Who gambles in the Stock Market?. The Journal of Finance, 64(4), 1889-1933. 263124 TE08815
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spelling	Pedraza Morales, Álvaro EnriqueGarcía Pulido, José FelipeEconomista con énfasis en Finanzas Internacionales.2016-12-14T21:53:21Z2016-12-14T21:53:21Z2016-12-142016Banerjee, A. (1992) A simple model of herd behavior, The Quarterly Journal of Economics, 108(3),797.Barber, B. M., & Odean, T. (2001). Boys will be Boys : Gender , Overconfidence , and Common Stock Investment, The Quarterly Journal of Economics, 116(1), 261–292.Barber, B. M., & Odean, T. (2011). The Behavior of Individual Investors. Handbook of the Economics of Finance, 2013, 2,1533-1570.Dvořák, T. (2005). Do Domestic Investors Have an Information Advantage? Evidence from Indonesia, The Journal of Finance, 60(2), 817-839Dyck, A. Morse, A. & Zingales,L. (2013). How pervasive is corporate fraud?, Rotman School of Management Working Paper No. 2222608Engelen, P. J. (2012). What is the reputational cost of a dishonest CEO? Evidence from US illegal insider trading. CESifo Economic Studies, 58, 140-163.Gaitán, R. (2011). Gobierno corporativo en Colombia. Tendencias actuales. AD-Minister, 15, 137–153.Giannetti, M., & Wang, T. Y. (2016). Corporate scandals and household stock market participation. The journal of finance. Accepted author manuscript.Gómez, J. & Melo, L. (2013). Efectos de “ ángeles caídos ” en el mercado accionario colombiano: Estudio de eventos del caso Interbolsa. Ensayos sobre Política Económica, 32, 23- 27Gompers, P. A., Ishii, J. L. & Metrick, A. (2003). “Corporate governance and equity prices”, Quarterly Journal of Economics, 118(1), 107- 155.Grinblatt, M. & Keloharju, M. (2001), What Makes Investors Trade?. The Journal of Finance, (56), 589–616.Guiso, L., Sapienza, P. & Zingales, L. (2008), Trusting the stock market, Journal of Finance, 63, 2557–2600.Hoffmann, A., Post, T. & Pennings, J. (2013). Individual investor perceptions and behavior during the financial crisis. Journal of Banking and Finance, 37, 60-74.Hong H., Kubik J. D. & Jeremy S. (2004), Social Interaction and Stock- Market Participation, Journal of Finance, 59, 137-163.Kahneman, D. & Tversky, A. (2007). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2), 263–292Kang, J. & Stulz, R. (1997). Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan. Journal of Financial Economics, 46(1), 3–28.Karpoff, J., Lee, S. & Gerald S. (2008). The Cost to Firms of Cooking the Books, Journal of Financial and Quantitative Analysis, 43 (3), 581–612Karpoff, J. M., & J. R. Lott, Jr., (1993). The Reputational Penalty Firms Bear from Committing Criminal Fraud. The Journal of Law and Economics, 36(2), 757-802Li, G. (2014). Information Sharing and Stock Market Participation: Evidence from Extended Families. Review of Economics and Statistics, 96(1), 151-160.Manrrique, D. (2014). Insumos para la reforma del Colombian Corporate Governance : Enfoque Interbolsa. Pensamiento Jurídico, 40, 189–226Parkash, R., Awais, M., & Warraich, U. A. (2014). Do Socio-Economic factors really Influence risk taking Behavior of individual Investors? Research Journal of Management Sciences Res. J. Management Sci, 3(6), 2319–1171.Philippas, N., Economou, F., Babalos, V., & Kostakis, A. (2013). Herding behavior in REITs: Novel tests and the role of financial crisis. International Review of Financial Analysis, 29, 166–174.Statman, M., Thorley, S., Vorkink, K., (2014). Investor Overconfidence and Trading Volume Investor Overconfidence and Trading Volume, 19(4), 1531–1565.Van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449–472.Kumar, A. (2009). Who gambles in the Stock Market?. The Journal of Finance, 64(4), 1889-1933.http://hdl.handle.net/10818/29174263124TE0881527 Páginas.27 Páginas.Como ha sido probado en el pasado, los escándalos corporativos pueden generar externalidades negativas en los mercados financieros. A lo largo del siguiente texto se presenta cómo afectó el escándalo de Interbolsa la participación de inversionistas individuales en la bolsa de valores colombiana. A partir de información transaccional, y mediante un amplio número de estimaciones, se encuentra el efecto de la exposición que tenían algunos inversionistas, sobre la decisión de participación de losindividuos en el mercado. La definición de diferentes variables de participación y la medición de los modelos en diferentes intervalos de tiempo permiten observar que la actividad de los inversionistas en la bolsa se vio a afectada por el escándalo, a pesar de esto, los efectos encontrados tienden a diluirse en el tiempo.spaUniversidad de La SabanaEconomía y Finanzas InternacionalesEscuela Internacional de Ciencias Económicas y AdministrativasAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/http://purl.org/coar/access_right/c_16ecUniversidad de la SabanaIntellectum Repositorio Universidad de la SabanaEfecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.bachelorThesispublishedVersionTesis de pregradohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_7a1fORIGINALJosé Felipe García Pulido (Tesis).pdfJosé Felipe García Pulido (Tesis).pdfVer documento en PDFapplication/pdf1083834https://intellectum.unisabana.edu.co/bitstream/10818/29174/1/Jos%c3%a9%20Felipe%20Garc%c3%ada%20Pulido%20%28Tesis%29.pdf3c29ddf58fe41cd61efc583dea73e42cMD51LICENSElicense.txtlicense.txttext/plain; charset=utf-8498https://intellectum.unisabana.edu.co/bitstream/10818/29174/3/license.txtf52a2cfd4df262e08e9b300d62c85cabMD53José Felipe García Pulido (Carta).pdfJosé Felipe García Pulido (Carta).pdfapplication/pdf572098https://intellectum.unisabana.edu.co/bitstream/10818/29174/4/Jos%c3%a9%20Felipe%20Garc%c3%ada%20Pulido%20%28Carta%29.pdf886c0bb9de5965865a73503435ff44aeMD54CC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-81223https://intellectum.unisabana.edu.co/bitstream/10818/29174/2/license_rdf7c9ab7f006165862d8ce9ac5eac01552MD52TEXTJosé Felipe García Pulido (Tesis).pdf.txtJosé Felipe García Pulido (Tesis).pdf.txtExtracted Texttext/plain81616https://intellectum.unisabana.edu.co/bitstream/10818/29174/5/Jos%c3%a9%20Felipe%20Garc%c3%ada%20Pulido%20%28Tesis%29.pdf.txt6a6c5086d560f6bb289ef44e762742b6MD5510818/29174oai:intellectum.unisabana.edu.co:10818/291742018-09-21 11:20:09.718Intellectum Universidad de la Sabanacontactointellectum@unisabana.edu.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

Efecto del escándalo de Interbolsa en la salida de inversionistas individuales de la bolsa de valores colombiana.

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