Business, Management and Accounting
8 years ago

Investors in Argentina and Chile benefit from mergers and acquisitions news.

BAR - Brazilian Administration Review
Assessment of market efficiency in Argentina, Brazil and Chile: an event study of mergers and acquisitions
Mario Domingues Simões, T. Diana L. van Aduard de Macedo-Soares, Marcelo Cabús Klötzle, Antônio Carlos Figueiredo Pinto

Paper Summary

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The article examines mergers and acquisitions in Argentina, Brazil, and Chile to see if they affect stock prices. Significant abnormal returns were found in Argentina and Chile after the announcements, but only on the announcement day in Brazil. This suggests that Brazil's market is more efficient, meaning it quickly incorporates new information into stock prices. Investors in Argentina and Chile may have a few days after the announcement to make extra profits if they act fast.