Determinants of ownership concentration in the Chilean stock market

Includes bibliography.

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Detalles Bibliográficos
Autores principales:	Morales, Marco, Meléndez, María José, Ramírez, Vanessa
Formato:	Texto
Lenguaje:	English
Publicado:	2014
Materias:	ACCIONES MERCADOS CONCENTRACION ECONOMICA LEYES Y REGLAMENTOS MODELOS ECONOMETRICOS STOCKS MARKETS ECONOMIC CONCENTRATION LAWS AND REGULATIONS ECONOMETRIC MODELS
Acceso en línea:	http://hdl.handle.net/11362/36989
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id	oai-11362-36989
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spelling	oai-11362-369892020-03-06T16:50:27Z Determinants of ownership concentration in the Chilean stock market Morales, Marco Meléndez, María José Ramírez, Vanessa ACCIONES MERCADOS CONCENTRACION ECONOMICA LEYES Y REGLAMENTOS MODELOS ECONOMETRICOS STOCKS MARKETS ECONOMIC CONCENTRATION LAWS AND REGULATIONS ECONOMETRIC MODELS Includes bibliography. This paper analyses econometrically the determinants of ownership concentration in the Chilean stock market, paying particular attention to the effects of the Public Tender Offer Act (Ley de Ofertas Públicas de Adquisición de Acciones). Although the Public Tender Offer Act achieves its central purpose, the tender offer mechanism increases the concentration of ownership, mainly because of the "residual tender offer" obligation for which the Act provides. In addition, the study has found significant opposite responses between the controlling shareholder and the next two largest shareholders, which should sound a warning for international comparisons based on a common measure of ownership concentration that do not take account of the ownership structures characterizing Latin American markets. These aspects must be considered if the regulatory goals aimed at by minority shareholder protection bills are to be achieved. 2014-09-05T14:38:11Z 2014-09-05T14:38:11Z 2013-08 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/36989 LC/G.2572-P 9 en Cepal Review 110 .pdf application/pdf CHILE CHILE
institution	Cepal
collection	Cepal
language	English
topic	ACCIONES MERCADOS CONCENTRACION ECONOMICA LEYES Y REGLAMENTOS MODELOS ECONOMETRICOS STOCKS MARKETS ECONOMIC CONCENTRATION LAWS AND REGULATIONS ECONOMETRIC MODELS
spellingShingle	ACCIONES MERCADOS CONCENTRACION ECONOMICA LEYES Y REGLAMENTOS MODELOS ECONOMETRICOS STOCKS MARKETS ECONOMIC CONCENTRATION LAWS AND REGULATIONS ECONOMETRIC MODELS Morales, Marco Meléndez, María José Ramírez, Vanessa Determinants of ownership concentration in the Chilean stock market
description	Includes bibliography.
format	Texto
author	Morales, Marco Meléndez, María José Ramírez, Vanessa
author_facet	Morales, Marco Meléndez, María José Ramírez, Vanessa
author_sort	Morales, Marco
title	Determinants of ownership concentration in the Chilean stock market
title_short	Determinants of ownership concentration in the Chilean stock market
title_full	Determinants of ownership concentration in the Chilean stock market
title_fullStr	Determinants of ownership concentration in the Chilean stock market
title_full_unstemmed	Determinants of ownership concentration in the Chilean stock market
title_sort	determinants of ownership concentration in the chilean stock market
publishDate	2014
url	http://hdl.handle.net/11362/36989
work_keys_str_mv	AT moralesmarco determinantsofownershipconcentrationinthechileanstockmarket AT melendezmariajose determinantsofownershipconcentrationinthechileanstockmarket AT ramirezvanessa determinantsofownershipconcentrationinthechileanstockmarket
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Determinants of ownership concentration in the Chilean stock market

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