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Luis Fernando Melo-Velandia
Camilo Andrés Orozco-Vanegas
Daniel Parra-Amado

Se emplea un estudio de eventos en el que se evalúa si hay impactos significativos en las rentabilidades anormales del mercado accionario colombiano a partir de las ofertas públicas de adquisición (opa) realizadas sobre las empresas Nutresa y sura. Se define el evento como el 17 de enero de 2022, el cual está relacionado con la adjudicación de las primeras opa y el anuncio de una segunda ronda de estos instrumentos; se encuentra evidencia estadística de que dicho evento tuvo un efecto significativo sobre los retornos de las acciones estudiadas. En particular, se puede afirmar que, bajo las diferentes especificaciones estimadas, los retornos fueron estadísticamente distintos durante el evento respecto a aquellos que se hubieran observado en tiempos normales sin la presencia de este.

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