Ofertas públicas de aquisição e seu efeito na rentabilidade das bolsas de valores: o caso da Nutresa e da sura na Colômbia

DOI:  https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.13595

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Publicado: ago 11, 2023
Edição: v. 26 n. 1 (2023)
Seção Artigos


Palavras-chave: Estudo de eventos Eficiência de mercado Ofertas públicas de aquisição

Conteúdo do artigo principal

Autores

Luis Fernando Melo-Velandia
Banco de la República (Colombia)
Camilo Andrés Orozco-Vanegas
Banco de la República (Colombia)
Daniel Parra-Amado
Banco de la República (Colombia)

Resumo

Um estudo de evento é usado para avaliar se há impactos significativos nos retornos anormais do mercado de ações colombiano a partir das ofertas públicas de aquisição (opas) realizadas nas empresas Nutresa e sura. Definindo o evento como 17 de janeiro de 2022, que está relacionado com a outorga das primeiras opas, e o anúncio de uma segunda rodada desses instrumentos, encontra-se evidência estatística de que tal evento teve efeito significativo nos retornos das ações estudadas. Em particular, pode-se afirmar que, sob as diferentes especificações estimadas, os retornos durante o evento foram estatisticamente diferentes daqueles que seriam observados em tempos normais sem a presença do evento.

Como Citar
Melo-Velandia, L. F., Orozco-Vanegas , C. A., & Parra-Amado, D. (2023). Ofertas públicas de aquisição e seu efeito na rentabilidade das bolsas de valores: o caso da Nutresa e da sura na Colômbia. Revista De Economía Del Rosario, 26(1), 1–37. https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.13595
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