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El comportamiento de la liquidez de valores de Pymes en un mercado alternativo bursátil

Author

Listed:
  • Miguel A. Soto-Araneta

    (Instituto Internacional San Telmo, Sevilla. España.)

  • Cecilia Téllez-Valle

    (Instituto Internacional San Telmo, Sevilla. España.)

  • Emma Berenguer

    (Instituto Internacional San Telmo, Sevilla. España.)

Abstract

Al analizar la evolución reciente de los Mercados Alternativos Bursátiles para empresas en expansión, se observa, en general, una baja liquidez de los valores en el mercado. Ante esta situación la cuestión a debate es la siguiente: ¿es la falta de liquidez de los valores de estos mercados un problema de inmadurez del mercado, que se resolverá por si sola cuando haya más valores y más inversores? Para responder a esta pregunta se ha realizado un estudio sobre la liquidez de las acciones de empresas cotizadas en el Alternative Investment Market (AIM) del London Stock Exchange (LSE), considerado el más desarrollado de los mercados alternativos existentes, investigando la evolución de la rotación de los valores negociados durante los cinco primeros años de cotización a partir de su Initial Public Offering (IPO). Los resultados obtenidos nos llevan a afirmar que la mayoría de las empresas en este mercado tienen relativamente poca rotación, y que la mayor parte de las que consiguen una rotación elevada la alcanzan con el paso del tiempo.

Suggested Citation

  • Miguel A. Soto-Araneta & Cecilia Téllez-Valle & Emma Berenguer, 2013. "El comportamiento de la liquidez de valores de Pymes en un mercado alternativo bursátil," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 2, pages 1-1, December.
    • Handle: RePEc:eac:articl:09/12
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