Análisis del proceso de formación de precios en el mercado bursátil ante la publicación del beneficio contable

  1. García Martín, Constantino José
  2. Herrero Piqueras, María Begoña
  3. Ibáñez Escribano, Ana María
Revista:
Revista europea de dirección y economía de la empresa

ISSN: 1019-6838

Año de publicación: 2010

Volumen: 19

Número: 4

Páginas: 79-98

Tipo: Artículo

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Otras publicaciones en: Revista europea de dirección y economía de la empresa

Resumen

El objetivo de este trabajo es analizar el proceso de formación de precios en el mercado bursátil ante la llegada de nueva información programada. Para ello, se ha analizado el impacto en los precios y la evolución de dicho impacto alrededor de la publicación de los beneficios trimestrales, así como la dispersión en la interpretación de la información por parte de los inversores y la asimilación de dicha información en los precios a través del estudio de la volatilidad intradía alrededor de la mencionada publicación. Los resultados obtenidos muestran que la publicación del beneficio tiene un impacto significativo en el valor de las empresas, que existe divergencia en la interpretación que los inversores hacen ante la llegada de dicha información y que la incidencia en el precio difiere ante el carácter de la noticia considerada y de la información previa de la que disponga el mercado.

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