Stock Market Anomalies: The Latin American Evidence

Interest in the Latin American emerging markets (LAEM) has increased considerably in recent years. However, in their sk markets the price determination process and how it compares with that of developed markets is still an open issue. Thus far, the LAEM and most of the emerging markets may have, as it is often claimed, paid a price for being too different, that is, for having weak institutions, failed macroe- nomic programs, political instability, poor corporate governance, and high trading...