The Market Reaction to Changes in the Brazilian Stock Exchange Indexes

The Market Reaction to Changes in the Brazilian Stock Exchange Indexes

This study investigates the price and volume behavior of stock added and excluded to the IBOVESPA, IBrX50, and IBrX100 indexes during the years 1994 to 2002 and FGV100 index during the years 2000 to 2002. In contrast to findings in the US, we find no evidence of abnormal returns around the announcem...

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Bibliographic Details
Main Authors: Rodrigo S. Verdi, Jairo Laser Procianoy
Format: Article
Language:English
Published: Brazilian Society of Finance 2006-12-01
Series:Revista Brasileira de Finanças
Subjects:
price pressure
index changes
Ibovespa
S&P 500
Online Access:http://virtualbib.fgv.br/ojs/index.php/rbfin/article/view/1159

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