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Papers by Juan Lozada

Research paper thumbnail of Magnetic flux analysis on magnetorheological actuators can detect external force variation

Research paper thumbnail of Micro Algoritmo Genético Basado en Un Nuevo Estimador Para La Marcha De Un Robot Cuadrúpedo

DYNA INGENIERIA E INDUSTRIA, 2017

Research paper thumbnail of The Stock Market Reaction to Mergers and Acquisitions: Evidence from the Banking Industry

SSRN Electronic Journal, 2020

Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industr... more Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industry to carry out business consolidation. This paper focuses on the effect of M&A announcements on stocks of Latin American banks and their rivals between 2000 and 2019. We evaluate two impacts of M&A announcements: impacts on cumulative abnormal returns (CAR) and impacts on event-induced variance (EIV). We use the GARCH-based event-study method. We find that acquirers and target banks have a statistically significant CAR, however, the sign is inconclusive. Rivals of acquirers and targets are not affected by M&A announcements. In general, we observe that EIV is negative for acquirers, targets, and rivals. Finally, we estimate a multivariate GARCH model to isolate the effects of co-movements of volatility between the acquirer and the target, and we find that the results remain qualitatively equal.

Research paper thumbnail of Magnetic flux analysis on magnetorheological actuators can detect external force variation

Research paper thumbnail of Micro Algoritmo Genético Basado en Un Nuevo Estimador Para La Marcha De Un Robot Cuadrúpedo

DYNA INGENIERIA E INDUSTRIA, 2017

Research paper thumbnail of The Stock Market Reaction to Mergers and Acquisitions: Evidence from the Banking Industry

SSRN Electronic Journal, 2020

Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industr... more Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industry to carry out business consolidation. This paper focuses on the effect of M&A announcements on stocks of Latin American banks and their rivals between 2000 and 2019. We evaluate two impacts of M&A announcements: impacts on cumulative abnormal returns (CAR) and impacts on event-induced variance (EIV). We use the GARCH-based event-study method. We find that acquirers and target banks have a statistically significant CAR, however, the sign is inconclusive. Rivals of acquirers and targets are not affected by M&A announcements. In general, we observe that EIV is negative for acquirers, targets, and rivals. Finally, we estimate a multivariate GARCH model to isolate the effects of co-movements of volatility between the acquirer and the target, and we find that the results remain qualitatively equal.

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