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Abstract
This work aims to measure the efficiency of Chilean stock market. The methodology utilized is the event studies in order to check the semi-strong efficiency of the stock market, through fusions and/or acquisitions advertisement of IPSA (Selective Stock Price Index) listed companies. This methodology is considered appropriate to measure this efficiency type. The results show that the abnormal returns are not statically significant, so, it is possible to conclude that, in this period, stock market don’t behave in efficient way in semi-strong form.
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