Desempeño operacional posterior a la oferta pública inicial de acciones de las empresas chilenas

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Publicado: jul 6, 2017
DOI: https://doi.org/10.20430/ete.v76i303.496
Palabras clave:
oferta pública inicial, mercado accionario, emisión de acciones, desempeño operacional

Contenido principal del artículo

Marcelo González
Universidad de Chile
Pablo Farías
Universidad de Chile

Resumen

En general, la evidencia empírica internacional ha documentado que las empresas que efectúan una IPO (Initial Public Offering, oferta pública inicial) de acciones presentan en el largo plazo un inferior desempeño financiero y operacional al mostrado por empresas de similares características. Pese a las pruebas internacionales, las empresas IPO chilenas no han mostrado un peor desempeño financiero (véase, por ejemplo, Aggarwal et al, 1993; Celis y Maturana, 1998). En cuanto al desempeño operacional, éste no ha sido estudiado para el caso chileno. En este artículo se documenta que las empresas IPO chilenas no mostraron un inferior desempeño operacional y tampoco presentaron un incremento en los costos de agencia posterior a la IPO. Posibles causas y efectos de estos resultados son comentados por los autores.

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González, M., & Farías, P. (2017). Desempeño operacional posterior a la oferta pública inicial de acciones de las empresas chilenas. El Trimestre Económico, 76(303), 751–773. https://doi.org/10.20430/ete.v76i303.496
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Vol. 76 Núm. 303 (2009): julio-septiembre
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Artículos

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