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Concentración de la propiedad y su efecto sobre la liquidez de las acciones del mercado bursátil colombiano, periodo 2010-2016

Author

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  • Erdwin Fernando García Martínez

Abstract

Este artículo analiza el efecto de la concentración de la propiedad accionaria (mixta o privada) sobre la liquidez de las acciones del merco bursátil colombiano; para ello estudia una muestra representativa de quince empresas que cotizaron en este mercado durante el periodo 2010-2016. Los resultados obtenidos evidencian que la concentración de la propiedad accionaria influye de manera inversa en la liquidez, con mayores efectos para las empresas privadas; sin embargo, tiene un nivel bajo de significancia que se explica por aspectos relacionados con el uso de información en cuanto a la emisión y colocación de acciones por parte de las empresas.

Suggested Citation

  • Erdwin Fernando García Martínez, 2018. "Concentración de la propiedad y su efecto sobre la liquidez de las acciones del mercado bursátil colombiano, periodo 2010-2016," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 10(2), pages 327-348, November.
    • Handle: RePEc:col:000443:016928
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    References listed on IDEAS

    as
    1. Aitken, Michael & Comerton-Forde, Carole, 2003. "How should liquidity be measured?," Pacific-Basin Finance Journal, Elsevier, vol. 11(1), pages 45-59, January.
    2. Amihud, Yakov, 2002. "Illiquidity and stock returns: cross-section and time-series effects," Journal of Financial Markets, Elsevier, vol. 5(1), pages 31-56, January.
    3. Diego Alonso Agudelo Rueda, 2010. "Liquidez en los mercados accionarios colombianos. Cuánto hemos avanzado en los últimos 10 anos?," Documentos de Trabajo de Valor Público 10654, Universidad EAFIT.
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    More about this item

    Keywords

    acciones; concentración de la propiedad; liquidez; mercado bursátil.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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