Arbitrage with ADRs: a sectorial case study for companies in Colombia, Mexico, Brazil and Chile

Ecos de Economía: A Latin American Journal of Applied Economics

Daniela Fleisman¹  Andrés Mauricio Mora¹ 

[1] Universidad EAFIT

关键词: American Depositary Receipts (ADRs);    law of one price;    efficient markets;    arbitrage;   

DOI  :  

学科分类：社会科学、人文和艺术（综合）

来源: Universidad Eafit

【 摘 要 】

This research continues the paper “Generalidades de los ADRs: Un estudio de casosectorial para empresas de Colombia, Mexico, Brasil y Chile�? [ADRs generalities: a sectorial case study for companies in Colombia, Mexico, Brazil and Chile]. It is organizedin two sections. The first one covers the unique price theory and the efficient markets hypothesis. In the second one, arbitrage conditions with ADRs are empirically evaluated. The objective is to prove the existence of price differentials between stocks and ADRs, which would allow investors to obtain a risk free return.

【 授权许可】

Unknown