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Stock Market Anomalies The Latin American Evidence

:	Victor Silverio Posadas Hernandez
:	Stock Market Anomalies The Latin American Evidence
:	DUV Deutscher Universitäts-Verlag
:	9783835091030
:	1
:	CHF 50.10
:

:	Volkswirtschaft
:	English

:	195
:	Wasserzeichen
:	PC/MAC/eReader/Tablet
:	PDF

Victor Silverio Posadas Hernandez explores three sets of questions: What are the investment laws in the Latin American emerging markets (LAEM) and how do they compare to those of developed countries? How heterogeneous are the implicit trading costs in the LAEM and which factors are responsible for the heterogeneity? How does the predictability of stock returns in the LAEM differ from those documented for developed markets?

Dr. Victor Silverio Posadas Hernandez promovierte extern bei Prof. Dr. Jan Pieter Krahnen am Lehrstuhl für Kreditwirtschaft und Finanzierung der Universität Frankfurt am Main. Er ist als Exposure Management Analyst at Credit Management bei der Deutschen Bank AG in Frankfurt tätig.

	Vorwort der Herausgeber	6
	Acknowledgments	8
	Contents	10
	List of Tables	12
	List of Figures	14
	Table of Abbreviations	16
	1 Introduction	17
	2 Latin American Emerging Markets	27
	2.1 Introduction	27
	2.2 The Latin American Emerging Markets under Study	29
	2.3 Previous Investigations of LAEM	30
	2.4 Risk Development in Latin American Emerging Countries	31
	2.5 Investment Law Index	41
	2.6 Conclusions	52
	3 An Index Methodology for Analyzing and Comparing the Development State and Trading Architecture of Stock Markets	54
	3.1 Introduction	54
	3.2 Trading Costs across Latin American Stock Exchanges	56
	3.3 Development Indicators of the LAEM	58
	4 Univariate Portfolio Approach	110
	4.1 Introduction	110
	4.2 Empirical Evidence	112
	4.3 Database	116
	4.4 Characteristics of the Analyzed Stock Markets	119
	4.5 Return Characteristics	120
	4.6 Methodology	126
	4.7 Results	128
	5 Regression Approach	145
	5.1 Introduction	145
	5.2 Methodology	147
	5.3 Results	152
	5.4 Conclusions	172
	6 Conclusions	174
	References	191
	Appendixes	203