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Industry momentum in Latin America

dc.contributor.authorBerggrun, Luisspa
dc.contributor.authorCardona, Emiliospa
dc.contributor.authorLizarzaburu Bolaños, Edmundo R.spa
dc.date.accessioned2023-06-21T22:22:56Z
dc.date.available2023-06-21T22:22:56Z
dc.date.issued2023-03
dc.identifier.issn0148-2963
dc.identifier.urihttp://hdl.handle.net/10726/5025
dc.language.isoeng
dc.publisherElsevier Inc.
dc.subjectEmerging markets
dc.subjectFive-factor model
dc.subjectIndustry portfolios
dc.subjectMultiple hypothesis testing
dc.subjectPortfolio performance
dc.titleIndustry momentum in Latin Americaeng
dc.typearticle
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.rights.localAbierto (Texto Completo)
dc.type.versioninfo:eu-repo/semantics/acceptedVersion
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.description.abstractenglishWe examine whether high-return industries outperform low-return industries in Latin America. Differences in performance between recent winner and loser industries are very often indistinguishable from zero. Evaluating the segment of small and large industries also points us to a lack of return continuation across industries. Employing idiosyncratic returns instead of total returns to differentiate between winner and loser industries confirms that industry momentum does not hold in the region. Furthermore, momentum for individual industries is also absent. Overall, obtaining profits from persistent return differences between or within industries would have been very difficult in our sample period.eng
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.relation.citationvolume158
dc.contributor.orcidBerggrun, Luis [0000-0002-8489-0818]
dc.contributor.orcidLizarzaburu Bolaños, Edmundo R. [0000-0002-8862-5624]
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.contributor.scopusBerggrun, Luis [37057140100]
dc.contributor.scopusCardona, Emilio [57069944700]
dc.contributor.scopusLizarzaburu Bolaños, Edmundo R. [55617076500]
dc.description.orcidhttps://orcid.org/0000-0002-8489-0818
dc.description.orcidhttps://orcid.org/0000-0002-8862-5624
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=37057140100
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57069944700
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55617076500
dc.identifier.eissn1873-7978
dc.relation.ispartofjournalJournal of Business Research
dc.identifier.doihttps://doi.org/10.1016/j.jbusres.2023.113711
dc.rights.coarhttp://purl.org/coar/access_right/c_abf2


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