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The integration of stock exchanges: The case of the Latin American Integrated Market (MILA) and its impact on ownership and internationalization status in Colombian brokerage firms

Author

Listed:
  • Yepes-Rios, Beatriz

    (Universidad EAFIT, Colombia)

  • Gonzalez-Tapia, Kelly
  • Gonzalez-Perez, Maria Alejandra

Abstract

This paper describes the changes in ownership and internationalization of the brokerage firms in Colombia as a result of the regional integration process of its stock exchange market through the Latin American Integrated Market (MILA). It proposes that the integration of stock exchanges generated transformations within the brokerage sector, and affected companies in response pursue different strategies to remain competitive in the current state of affairs. In the case of Colombia, stock exchange integration through MILA has resulted into mergers between local brokerage firms, acquisitions from both national and international companies and changes in ownership.

Suggested Citation

  • Yepes-Rios, Beatriz & Gonzalez-Tapia, Kelly & Gonzalez-Perez, Maria Alejandra, 2015. "The integration of stock exchanges: The case of the Latin American Integrated Market (MILA) and its impact on ownership and internationalization status in Colombian brokerage firms," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 20(39), pages 84-93.
    • Handle: RePEc:ris:joefas:0087
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    Citations

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    Cited by:

    1. López Gaviria, José Ignacio, 2019. "Predictibilidad del mercado accionario colombiano," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 91, pages 117-150, July.
    2. Lukanima, Benedicto Kulwizira & Sanchez-Barrios, Luis Javier & Gómez-Bravo, Yuli Paola, 2024. "Towards understanding MILA stock markets integration beyond MILA: New evidence between the pre-Global financial crisis and the COVID19 periods," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 478-497.
    3. José Ignacio López-Gaviria, 2019. "Colombia’s stock market predictability," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 91, pages 117-150, Julio - D.
    4. Mohanasundaram Thangamuthu & Suneel Maheshwari & Deepak Raghava Naik, 2022. "Volatility Spillover Effects during Pre-and-Post COVID-19 Outbreak on Indian Market from the USA, China, Japan, Germany, and Australia," JRFM, MDPI, vol. 15(9), pages 1-15, August.

    More about this item

    Keywords

    Integración; Bolsas de valores; Compañías de corretaje; Mercados de capital; Mercado Integrado Latinoamericano;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration

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