Business Commons^™

Culture Effects In The Ethical Decision-Making Process Of Latin American Accountants, Silvia Lopez Palau

Theses and Dissertations - UTB/UTPA

Despite the amount of accounting ethics research conducted over many years, two significant problems remain unsolved. First, there is a need to create accurate measurement instruments capable of predicting behavior within a theoretical framework of ethical decision-making. Second, it is important to develop ways to make measurements appropriate for application in other cultures or countries. Thus, the purpose of this study is twofold. The first objective is to develop a scale to measure the ethical evaluations, judgments, and intentions of Latin American accountants. The second goal is to determine the effects of national culture and gender on the results posited …

The Effect Of Mergers And Acquisitions On The Wealth, Risk, And Efficiency Of Latin American Banks, Felice Policastro-Caccavale

Theses and Dissertations - UTB/UTPA

Over the last few years, mergers and acquisitions within Latin America's banking sector have significantly increased. From 1995 to 2003, Latin American countries experienced more than one thousand bank merger and acquisition deals. The majority of these mergers and acquisitions have occurred between domestic and foreign banks and, as a result, foreign banks now control more than fifty percent of the banking assets of Latin America's largest economies. In addition to the increased presence of foreign banks in Latin America, the process of mergers and acquisitions has reduced the number of banks in most Latin American countries and this has …

Risk, Return And Integration In Latin American Equity Markets, Eduardo Enrique Sandoval

Theses and Dissertations - UTB/UTPA

There has been an increasing interest in studying the cross sectional relationship between systematic risk (as measured by beta) and return due to the inability of unconditional models to explain this relationship and the empirical contradictions found for the Sharpe-Lintner-Black CAPM model. Extant research on developed stock markets shows a significant relationship between beta and return when it is conditional to up and down markets. However, whether these results apply to Latin American equity markets is an issue that has not been previously studied.

With this in mind, this dissertation pursues two main objectives: (1) to analyze whether unconditional or …

Spillover Effects On Latin American Equity Markets: The Case Of Adrs And Non-Adr Firms, Roberto Jairo Curci-Berrio

Theses and Dissertations - UTB/UTPA

The development of the American Depositary Receipt (ADR) market allows investors desiring to diversify in Latin America to follow three diversification strategies. First, they may invest in Latin American firms traded through ADRs in the U.S. equity market. Second, they may invest in the underlying stocks of Latin American ADRs traded in Latin American stock exchanges. Third, investors may invest in Latin American firms not cross-listed; hereafter called non-ADR firms, and traded in Latin American stock exchanges. This dissertation contributes to the current literature by investigating whether U.S. and Latin American investors improve portfolio performance by investing in ADR or …