The influence of the tag-along rights in the value of companies: an event study of the effects on the market and service companies

The aim of this work is to check the effect of granting tag-along rights to stockholders by analyzing the behavior of the return of the stock. To do so we carried out event studies for a group of 21 company stocks, divided into service provider companies and others, who granted this right to their stockholders after Law 10,303 was passed in October, 2001. In the test we used two models for estimating abnormal returns: adjusted to the market and adjusted to the risk and market. The results of the tests we carried out based on these models did not capture abnormal returns (surpluses), telling us that the tag-along rights did not affect the pattern of daily returns of the stocks of companies traded on BOVESPA (The Sao Paulo Stock Exchange). We did not expect this result because of the new corporate governance practices adopted by companies in Brazil.

Proyecto de informe de la Quinta Reunión de la Mesa Directiva de la Conferencia Regional sobre la Integración de la Mujer en el Desarrollo Económico y Social de América Latina y el Caribe = Draft report of the Fifth Meeting of the Presiding Officers of the Regional Conference on the Integration of Women into the Economic and Social Development of Latin America and the Caribbean

Contiene una resena de las actividades realizadas por la Mesa Directiva y la Secretaria de la CEPAL en relacion con la integracion de la mujer al desarrollo, las recomendaciones sobre los aspectos organizativos de la Tercera Conferencia Regional, y lista de participantes.

Informe de la Quinta Reunión de la Mesa Directiva de la Conferencia Regional sobre la Integración de la Mujer en el Desarrollo Económico y Social de América Latina y el Caribe = Report of the Fifth Meeting of the Presiding Officers of the Regional Conference on the Integration of Women into the Economic and Social Development of Latin America and the Caribbean

Contiene una resena de las actividades realizadas por la Mesa Directiva y la Secretaria de la CEPAL en relacion con la integracion de la mujer al desarrollo, las recomendaciones sobre los aspectos organizativos de la Tercera Conferencia Regional, y lista de participantes.