<?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>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462019000500509</article-id>
<article-id pub-id-type="doi">10.21919/remef.v14i0.420</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Weekend effect and financial characteristics: is there any relation in Latin America?]]></article-title>
<article-title xml:lang="es"><![CDATA[Efecto fin de semana y características financieras: ¿existe alguna relación en América Latina?]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Mongrut]]></surname>
<given-names><![CDATA[Samuel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Delfino]]></surname>
<given-names><![CDATA[Cinzia]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Tecnológico y de Estudios Superiores de Monterrey  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad del Pacífico  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Peru</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2019</year>
</pub-date>
<volume>14</volume>
<numero>spe</numero>
<fpage>509</fpage>
<lpage>525</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462019000500509&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462019000500509&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462019000500509&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This study seeks to investigate the presence of the weekend effect in six Latin American markets (Argentina, Brazil, Chile, Colombia, Mexico and Peru) and to show the relationship between the weekend effect and investment portfolios sorted by four financial characteristics: stock market liquidity, current liquidity ratio, market capitalization (size) and price-to-book ratio. Using an extension of the French (1980) Model and a portfolio study we identify a significant weekend effect in all countriesand found a negative relation between the weekend effect and four financial characteristics: the weekend effect is stronger in portfolios that contain stocks with low market liquidity, securities with low current liquidity ratios, small cap stocks (size)and stocks with low price-to-book ratios. As opposed to previous studies, we suggest that the weekend effect may be influenced by the investment of institutional investors in securitized loans issued by companies with value stocks and tight current liquidity ratios, and by the investment of individual investors in small-cap and illiquid stocks.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este estudio busca investigar la presencia del efecto del fin de semana en seis mercados latinoamericanos (Argentina, Brasil, Chile, Colombia, México y Perú) y mostrar la relación entre el efecto del fin de semana y los portafolios de inversiónclasificados por cuatro características financieras: liquidez bursátil, ratio de liquidez corriente, capitalización de mercado (tamaño) y el ratio de precio a valor en libros. Usando una extensión del modelo French (1980) y un estudio de portafolios, identificamos un efecto fin de semana significativo en todos los países y encontramos una relación negativa entre el efecto fin de semana y cuatro características financieras: el efecto fin de semana es más fuerte en los portafolios que contienen acciones con baja liquidez bursátil, acciones con baja liquidez corriente, acciones de baja capitalización bursátil (tamaño) y acciones con bajos índices de precio a valor en libros. A diferencia de los estudios anteriores, sugerimos que el efecto del fin de semana puede verse influido por la inversión de los inversionistas institucionales en préstamos titulizados emitidos por compañías con acciones de valor y ratios de liquidez corriente ajustados, y por la inversión de inversionistas individuales en acciones de baja capitalización bursátil e ilíquidas.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Market anomalies]]></kwd>
<kwd lng="en"><![CDATA[weekend effect]]></kwd>
<kwd lng="en"><![CDATA[Latin America]]></kwd>
<kwd lng="es"><![CDATA[Anomalías bursátiles]]></kwd>
<kwd lng="es"><![CDATA[efecto fin de semana]]></kwd>
<kwd lng="es"><![CDATA[América Latina]]></kwd>
</kwd-group>
</article-meta>
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