<?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>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422020000100107</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2019.1794</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Testing the overreaction hypothesis in the mexican stock market]]></article-title>
<article-title xml:lang="es"><![CDATA[Probando la hipótesis de sobrerreacción en el mercado accionario mexicano]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[González Maiz Jiménez]]></surname>
<given-names><![CDATA[Jaime]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ortiz Calisto]]></surname>
<given-names><![CDATA[Edgar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de las Américas Puebla  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2020</year>
</pub-date>
<volume>65</volume>
<numero>1</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422020000100107&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422020000100107&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422020000100107&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The objective of this work is to test the overreaction hypothesis in the Mexican Stock Market for the period of 2002-2015, using monthly data and applying the Cumulative Average Residuals (CAR) methodology via the CAPM model and the three-factor model proposed by Fama and French. The CAR model is applied to test how winner and loser portfolios perform during the period under analysis. Overall, the evidence shows that average CAR for the loser portfolio is 0.706%, whereas CAR for the winner portfolio is 0.364%, and that are statistically different; nevertheless, both portfolios are co-integrated. This research contributes to the financial literature identifying overreaction in the Mexican Stock Market during the period examined.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de esta investigación es probar la Hipótesis de Sobrerreacción en el Mercado Accionario Mexicano en el periodo del 2002 al 2015. En particular se utilizan datos mensuales aplicando la metodología de Residuales Promedio Acumulados vía el modelo CAPM y el modelo de tres factores de Fama y French. La metodología de residuales se aplica para analizar el desempeño de los portafolios ganadores y perdedores durante el periodo en cuestión. En general, la evidencia señala que el Promedio de los Residuales Acumulados del portafolio perdedor es de 0.706%, mientras que el Promedio de los Residuales Acumulados del portafolio ganador es de 0.364%, siendo estadísticamente diferentes; sin embargo, ambos portafolios están co-integrados. Está investigación contribuye a la literatura financiera ya que identifica que el Mercado Mexicano sobrerreacciona en el periodo examinado.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Overreaction]]></kwd>
<kwd lng="en"><![CDATA[Cumulative average residuals]]></kwd>
<kwd lng="en"><![CDATA[Mexican stock market]]></kwd>
<kwd lng="en"><![CDATA[G15]]></kwd>
<kwd lng="en"><![CDATA[G41]]></kwd>
<kwd lng="es"><![CDATA[Sobrereacción]]></kwd>
<kwd lng="es"><![CDATA[Residuales promedio acumulados]]></kwd>
<kwd lng="es"><![CDATA[Mercado accionario mexicano]]></kwd>
<kwd lng="es"><![CDATA[G15]]></kwd>
<kwd lng="es"><![CDATA[G41]]></kwd>
</kwd-group>
</article-meta>
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