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Volatilidad y Eficiencia en el Mercado Accionario: Evidencia Reciente para el Caso Chileno

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  • Carlos Budnevich
  • Michael Basch

Abstract

The simple valuation model for stock prices, according to the efficient capital markets theory, asserts that stock prices are equal to the present value of expected future dividends. However, observed stock prices seem to be far more volatile than what th

Suggested Citation

  • Carlos Budnevich & Michael Basch, 1994. "Volatilidad y Eficiencia en el Mercado Accionario: Evidencia Reciente para el Caso Chileno," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 31(92), pages 59-86.
    • Handle: RePEc:ioe:cuadec:v:31:y:1994:i:92:p:59-86
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    Cited by:

    1. Rodrigo Saens, 1999. "Premia In Emerging Market Adr Prices:Evidence From Chile," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 2(1), pages 51-70.
    2. Parisi, Franco & Acevedo, Carlos, 2001. "Volume and autocovariance in short-horizon stock returns: Evidence from 1992 to 1998 in Chile," International Review of Financial Analysis, Elsevier, vol. 10(3), pages 275-285.
    3. Franco Parisi, 1997. "Los ADRS Chilenos y sus Implicancias en Precio y Varianza en sus Activos Subyacentes," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 34(102), pages 217-236.

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