Company holdings structure and stock yields in South America

Título traducido de la contribución: Estructura propietaria y rendimientos bursátiles en Suramérica

Darcy Fuenzalida O'shee, Samuel Mongrut Montalván, Mauricio Nash, Julián Benavides Franco

Producción científica: Contribución a una revistaArtículo de revista revisión exhaustiva

4 Citas (Scopus)

Resumen

Around the world, near 46% of a company's stock is concentrated in the hands of the three main shareholders and, for companies that operate in South American markets, that percentage rises to 70%. After a portfolio study and panel data estimation conducted on 271 companies corresponding to five emerging South American markets, the article concludes that, on an average, the stock portfolio made up of companies with the greatest concentration of holdings generates higher yield than the yield produced by the portfolio made up of companies with lesser concentration of holdings. That indicates that stock investors require a higher yield, due to the greater risk they face as minority shareholders in companies with an elevated concentration of holdings.
Título traducido de la contribuciónEstructura propietaria y rendimientos bursátiles en Suramérica
Idioma originalInglés
Páginas (desde-hasta)11-35
Número de páginas25
PublicaciónCuadernos de Administracion
Volumen21
N.º35
DOI
EstadoPublicada - 1 ene. 2008
Publicado de forma externa

Palabras clave

  • Concentration of holdings
  • Minority shareholder
  • Portfolio study

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