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:
Trabajo de grado de pregrado
Fecha de publicación:
2016
Institución:
Universidad de la Sabana
Repositorio:
Repositorio Universidad de la Sabana
Idioma:
spa
OAI Identifier:
oai:intellectum.unisabana.edu.co:10818/29174
Acceso en línea:
https://hdl.handle.net/10818/29174
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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 Tesis/Trabajo de grado - Pregrado
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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.
Dvo¿ák, 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 https://hdl.handle.net/10818/29174
dc.identifier.local.none.fl_str_mv 263124
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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.
Dvo¿ák, 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
url https://hdl.handle.net/10818/29174
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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.Dvo¿ák, 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.https://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.Tesis/Trabajo de grado - Pregradohttp://purl.org/coar/resource_type/c_7a1fhttp://purl.org/coar/version/c_970fb48d4fbd8a85Textoinfo:eu-repo/semantics/bachelorThesishttp://purl.org/redcol/resource_type/TPPublicationORIGINALJosé Felipe García Pulido (Tesis).pdfJosé Felipe García Pulido (Tesis).pdfVer documento en PDFapplication/pdf1083834https://intellectum.unisabana.edu.co/bitstreams/7bdf9f62-b487-52b7-e053-7e0910accd73/download3c29ddf58fe41cd61efc583dea73e42cMD51trueAnonymousREADLICENSElicense.txtlicense.txttext/plain; charset=utf-8498https://intellectum.unisabana.edu.co/bitstreams/7bdf9f62-b488-52b7-e053-7e0910accd73/downloadf52a2cfd4df262e08e9b300d62c85cabMD53falseAnonymousREADJosé Felipe García Pulido (Carta).pdfJosé Felipe García Pulido (Carta).pdfapplication/pdf572098https://intellectum.unisabana.edu.co/bitstreams/7bdf9f62-b3f5-52b7-e053-7e0910accd73/download886c0bb9de5965865a73503435ff44aeMD54falseAdministratorREADTEXTJosé Felipe García Pulido (Tesis).pdf.txtJosé Felipe García Pulido (Tesis).pdf.txtExtracted Texttext/plain81616https://intellectum.unisabana.edu.co/bitstreams/7bdf9f62-b415-52b7-e053-7e0910accd73/download6a6c5086d560f6bb289ef44e762742b6MD55falseAnonymousREADCC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-81223https://intellectum.unisabana.edu.co/bitstreams/7bdf9f62-b3f4-52b7-e053-7e0910accd73/download7c9ab7f006165862d8ce9ac5eac01552MD52falseAnonymousREADTHUMBNAILJosé Felipe García Pulido (Tesis).pdf.jpgJosé Felipe García Pulido (Tesis).pdf.jpgGenerated Thumbnailimage/jpeg10690https://intellectum.unisabana.edu.co/bitstreams/6bd59a0e-6d43-4a46-aea5-cf85e048c285/download01e5b6c6ed0872c8f1305d762b354e0eMD56falseAnonymousREAD10818/29174oai:intellectum.unisabana.edu.co:10818/291742025-12-15 12:14:16.633http://creativecommons.org/licenses/by-nc-nd/4.0/Attribution-NonCommercial-NoDerivatives 4.0 Internationalopen.accesshttps://intellectum.unisabana.edu.coIntellectum Repositorio Universidad de La Sabanacontactointellectum@unisabana.edu.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