{"id":4765,"date":"1995-01-01T00:00:00","date_gmt":"1995-01-01T00:00:00","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/1995\/01\/01\/anomalias-empiricas-en-el-mercado-de-capitales-el-caso-espanol\/"},"modified":"1995-01-01T00:00:00","modified_gmt":"1995-01-01T00:00:00","slug":"anomalias-empiricas-en-el-mercado-de-capitales-el-caso-espanol","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/ciencias-economicas\/anomalias-empiricas-en-el-mercado-de-capitales-el-caso-espanol\/","title":{"rendered":"Anomalias empiricas en el mercado de capitales: el caso espa\u00f1ol."},"content":{"rendered":"<h2>Tesis doctoral de <strong> Joaquin Marhuenda Fructuoso <\/strong><\/h2>\n<p>El objetivo de esta tesis doctoral consiste en analizar detalladamente si las principales anomalias del mercado detectadas en la literatura financiera suceden en el ambito del mercado espa\u00f1ol de capitales.Para ello, inicialmente se examina el concepto de eficiencia y su relacion con el capm, seguidamente, se estudia tanto el efecto tama\u00f1o como sus posibles explicaciones y relaciones con otras anomalias del mercado a continuacion se expone la evidencia relativa a la conducta estacional tanto de la rentabilidad como del premio por riesgos asi como su vinculo con el efecto tama\u00f1o.Los resultados obtenidos en esta tesis no apoyan la posibilidad de que el capm explique adecuadamente el comportamiento de este mercado. De un lado, se detecta la presencia de una variable que puede explicar el comportamiento de la rentabilidad distinta del riesgo sistematico, el tama\u00f1o.  por otro, se comprueba que las premisas fundamentales del capm unicamente se cumplen en algunos meses del a\u00f1o, lo que afecta seriamente a este modelo dado que si los inversores se deciden a utilizarlo esperaran que sea valido a lo largo del tiempo no en determinados meses.  adicionalmente, se comprueba la existencia de una mayor rentabilidad en el mes de enero en relacion a la de los demas meses del a\u00f1o, si bien su origen no parece estar asociado a cuestiones de tipo impositivo.<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Anomalias empiricas en el mercado de capitales: el caso espa\u00f1ol.<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Anomalias empiricas en el mercado de capitales: el caso espa\u00f1ol. <\/li>\n<li><strong>Autor:<\/strong>\u00a0 Joaquin Marhuenda Fructuoso <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Alicante<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 01\/01\/1995<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Juan  Carlos Gomez Sala<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: Matilde Fernandez Blanco <\/li>\n<li>Ana Isabel Fern\u00e1ndez \u00e1lvarez (vocal)<\/li>\n<li>Angel Berges Lobera (vocal)<\/li>\n<li>Gonzalo Rubio Irigoyen (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de Joaquin Marhuenda Fructuoso El objetivo de esta tesis doctoral consiste en analizar detalladamente si las principales anomalias [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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