Dificultad financiera y rendimiento de mercado de organizaciones latinoamericanas
Resumen
la dificultad financiera está presente en diversos estudios en la literatura. Sin embargo, se notan mayores discusiones en torno de sus determinantes, como el indicador, sin constatar su efecto para el mercado. En virtud de la importancia de poder utilizarse para averiguar la continuidad de la organización, el objetivo del trabajo es identificar las influencias de la dificultad financiera acerca del rendimiento de mercado en empresas latinoamericanas negociadas en la bolsa de valores. De acuerdo con la hipótesis del mercado eficiente y la señalización, la dificultad financiera anuncia al mercado una perspectiva negativa que afecta el desempeño de mercado. Así, para el análisis, se utilizó de datos referentes a las empresas que constan en las bolsas de Argentina, Brasil, Chile, México y Perú, de forma trimestral entre el 2013 y el 2017. Los resultados evidencian que, en los contextos brasileño, chileno y mexicano, la dificultad financiera influencia negativamente el rendimiento de mercado de las compañías. El estudio aporta para la literatura con la utilización de la dificultad financiera además de un indicador predictor, pues presenta una información que puede trabajarse por stakeholders en el momento de negociar o realizar el mantenimiento de su portafolio de acciones.
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