Market efficiency and Exdividend period: Tax and microstructural effects for the colombian case

Santiago Murillo, Elizabeth Arroyave, Nini Marín

Research output: Contribution to journalArticlepeer-review

Abstract

© 2017. Financial efficiency theory postulates that rational investors act in a stock market using all available information at a time, in particular, asymmetries in information. This research seeks to determine if there is an improvement of Market Efficiency in Colombia's Stock Exchange due to the implementation of resolution 296/12 of the Financial Superintendence of Colombia, which decreased the ExDividend Period, by calculating and analyzing ExDividend Performance.
Original languageAmerican English
JournalEspacios
StatePublished - 1 Jan 2017

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