Eficiencia del mercado y periodo ExDividendo: Efectos impositivos y microestructurales para el caso colombiano

Translated title of the contribution: Market efficiency and Exdividend period: Tax and microstructural effects for the colombian case

Santiago Murillo, Elizabeth Arroyave, Nini Marín

Research output: Contribution to journalArticle

Abstract

Financial efficiency theory postulates that rational investors act in a stock market using all available information at a time, in particular, asymmetries in information. This research seeks to determine if there is an improvement of Market Efficiency in Colombia's Stock Exchange due to the implementation of resolution 296/12 of the Financial Superintendence of Colombia, which decreased the ExDividend Period, by calculating and analyzing ExDividend Performance.

Translated title of the contributionMarket efficiency and Exdividend period: Tax and microstructural effects for the colombian case
Original languageSpanish
Article number16
JournalEspacios
Volume38
Issue number44
StatePublished - Jan 1 2017
Externally publishedYes

Keywords

  • ExDividend return
  • Financial markets
  • Market efficiency
  • Microestructural effects
  • Tax effects
  • Transaction costs

ASJC Scopus subject areas

  • Business and International Management
  • Management Science and Operations Research
  • Management of Technology and Innovation

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