In this study we analyse the effect of stock splits on stocks¿ trading activity using intraday data from a sample of 46 stock splits from the Spanish stock market. In particular, we study changes to trading activity, trading composition, the information asymmetry of stocks, the distribution of...

In the present document it is exposed in an abstract way the models of credit portfolioes CreditMetricsTM, KMV, CreditRisk+, Credit Portfolio View in such a way that they could be calibrated and implemented in financial institutions where the quality and quantity of credit information is scanty,...

This paper analyses the effect of bank relationships on the interest rate and personaland real guarantees borne by a sample of small and medium-sized enterprises in theirindebtedness. The results of this paper indicate that the SMEs that work with fewer financialintermediaries obtain debt at a...

Se propone un modelo de rezagos distribuidos para determinar las variables que afectan las primas de riesgo soberano para Colombia, trabajando con datos mensuales para el periodo enero 2002 a marzo 2005; y datos de abril 2005 a noviembre 2005 como datos out-of-the-sample para verificar la capacidad...

Spanish Abstract: El objetivo del presente estudio es analizar la evolución y desempeño del sistema financiero peruano en los últimos años y el rol de la reputación bancaria en él, tomando como base diversos indicadores tales como el valor de índice Merco y la solvencia financiera. El...

A tool that has been widely used to identify the state of financial conditions in a country are the financial conditions indexes, since they synthesize information from different variables in a single indicator allowing to identify the general behavior of financial conditions in a timely and...

An international reaction was required to the financial scandals of recent years, and some States started to reform corporate governance. Two main systems were used – self-regulation through good governance codes, and legislative measures to achieve transparency in financial markets. The...

In this research we investigate whether quarterly earnings announcements are informative using awide sample of firms listed in the Spanish Stock Market (SIBE). We study the period comprised between thethird quarterly of 2002 and the fourth quarterly of 2003. We analyse whether abnormal returns...

Este trabajo, hace un análisis a cerca de la definición de competitividad, invita a la refleción en torno a este tema y propicia una crítica que se basa en la facilidad con que se aborda, sin dimensionar adecuadamente sus alcances. Se trata de establecer una diferencia conceptual entre...

Spanish Abstract: De acuerdo a los procesos globalizadores en el sector financiero se está experimentando grandes transformaciones derivadas de los cambios sociales del consumidor. En estos momentos somos testigos de un desafío mayúsculo desde el punto de vista tecnológico, el cual está...