Cambios En El Rating De Bonos Y Su Efecto En Los Precios Accionarios: El Caso Chileno
AbstractThe paper studies the effect of bond rating upgrades (downgrades) on stock prices in Chile which, based on the international evidence is expected to be positive (negative). However, no effect is observed, even when the sample is analyzed according to the type of agency that announced the rating change and the type of change. The explanation of our findings may lie in the particular characteristics of the Chilean capital market, where institutional investors have an important role, and where ownership is highly concentrated.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Escuela de Administracion. Pontificia Universidad Católica de Chile. in its journal ABANTE.
Volume (Year): 3 (2000)
Issue (Month): 2 ()
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- G19 - Financial Economics - - General Financial Markets - - - Other
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Augusto Castillo, 2004. "The announcement effect of bond and equity issues: evidence from Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 31(2 Year 20), pages 177-205, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gimena Pardo).
If references are entirely missing, you can add them using this form.