EFEITOS DE RIQUEZA DURANTE AS COLOCAÇÕES PÚBLICAS INICIAIS DE PRIVATIZAÇÃO NO CHILE (1984-1989) (publicado em inglês)
DOI:
https://doi.org/10.1016/S0123-5923(10)70134-0Palavras-chave:
Privatização, subvalorização de OPIS, desempenho subnormal a longo prazo de OPISResumo
Estudamos o desempenho posterior a colocação de Ofertas Públicas Iniciais (OPIs) no Chile durante 1984-1989 e fornecemos uma descrição detalhada das condições econômicas e políticas prevalecentes. Em particular, apresentamos os detalhes operacionais do mecanismo de emissão de ações, complementado por um estudo estatístico dos Rendimentos Ajustados pelo Mercado das OPIs. Embora o tamanho da demonstração seja limitado e não permita alcançar uma validade externa, a análise confirma a presença de padrões de desempenho muito semelhantes aos observados em OPIs tanto privadas como privatizadas, de acordo com outros estudos relacionados (Aggarwal, Leal e Hernández, 1993, Dewenter e Malatesta, 1997, Loughran, Ritter e Rydqvist, 1994, Perotti e Guney, 1993).
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