<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2073-6061</journal-id>
<journal-title><![CDATA[Cofin Habana]]></journal-title>
<abbrev-journal-title><![CDATA[Cofin]]></abbrev-journal-title>
<issn>2073-6061</issn>
<publisher>
<publisher-name><![CDATA[Editorial UH]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2073-60612019000200006</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Uso de información privilegiada en fusiones y adquisiciones en sectores industriales de Chile en el periodo 2010-2014]]></article-title>
<article-title xml:lang="en"><![CDATA[Use of Privileged Information in Mergers and Acquisitions in Chilean Industrial Sector over the Period 2010-2014]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Améstica-Rivas]]></surname>
<given-names><![CDATA[Luis]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cornejo-Saavedra]]></surname>
<given-names><![CDATA[Edinson]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[King-Domínguez]]></surname>
<given-names><![CDATA[Andrea]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[González de la Fuente]]></surname>
<given-names><![CDATA[Pablo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af4">
<institution><![CDATA[,Universidad del Bío-Bío  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>13</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_arttext&amp;pid=S2073-60612019000200006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_abstract&amp;pid=S2073-60612019000200006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.sld.cu/scielo.php?script=sci_pdf&amp;pid=S2073-60612019000200006&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN En el estudio se analizó el comportamiento de los retornos accionarios de 30 firmas del mercado bursátil de Chile, clasificadas por sector industrial, que realizaron 61 anuncios de fusiones y adquisiciones (F&amp;A) entre los años 2010 y 2014, de los cuales 13 correspondieron al sector secundario y 48 al terciario. Los resultados indicaron que el sector terciario evidenció un retorno anormal promedio positivo y estadísticamente significativo el día previo al anuncio de F&amp;A, que reveló una posible filtración de información privada y pudo ser la causa de la actividad realizada por insiders en el mercado bursátil y del uso de información privilegiada.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT This study analyzes the behavior of the stock returns of a sample of firms in the Chilean stock market, classified by industrial sector, which made announcements of mergers and acquisitions (M&amp;A) between 2010 and 2014. The sample consists of 30 firms that made 61 announcements for M&amp;A: 13 announcements corresponded to the secondary sector and 48 to the tertiary sector. The results indicated that tertiary sector showed a positive and statistically significant average abnormal return on the day prior to the announcement of M&amp;A, which revealed a possible leak of private information before the announcement, and could be the result of the insider trading.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Chile]]></kwd>
<kwd lng="es"><![CDATA[fusión y adquisición]]></kwd>
<kwd lng="es"><![CDATA[información privilegiada]]></kwd>
<kwd lng="es"><![CDATA[mercado de capitales]]></kwd>
<kwd lng="es"><![CDATA[retornos anormales.]]></kwd>
<kwd lng="en"><![CDATA[Chile]]></kwd>
<kwd lng="en"><![CDATA[merger and acquisition]]></kwd>
<kwd lng="en"><![CDATA[insider trading]]></kwd>
<kwd lng="en"><![CDATA[capital market]]></kwd>
<kwd lng="en"><![CDATA[abnormal returns.]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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