Trabajo de investigación para la asignatura Seminario de Investigación en Administración I. Revisado por el Dr. Max Schwarz Díaz, profesor responsable de la asignatura.

Purpose – The aim of this paper is to examine the role of liquidity in asset pricing in a tiny market, such as the Portuguese. The unique setting of the Lisbon Stock Exchange with regards to changes in classification from an emerging to a developed stock market, allows an original answer to whether changes in the development of the market affect the role of liquidity in asset pricing. Design/methodology/approach – The authors propose and compare two alternative implications of liquidity in asset pricing: as a desirable characteristic of stocks and as a source of systematic risk. In contrast to prior research for major stock markets, they use the proportion of zero returns which is an appropriated measure of liquidity in tiny markets and propose the separated effects of illiquidity in a capital asset pricing model framework over the whole sample period as well as in two sub-samples, d...

Purpose. The aim of this paper is to examine the role of liquidity in asset pricing in a tiny market, such as the Portuguese. The unique setting of the Lisbon Stock Exchange with regards to changes in classification from an emerging to a developed stock market, allows an original answer to whether changes in the development of the market affect the role of liquidity in asset pricing. Design/methodology/approach. The authors propose and compare two alternative implications of liquidity in asset pricing: as a desirable characteristic of stocks and as a source of systematic risk. In contrast to prior research for major stock markets, they use the proportion of zero returns which is an appropriated measure of liquidity in tiny markets and propose the separated effects of illiquidity in a capital asset pricing model framework over the whole sample period as well as in two sub-samples, dependi...

The Patient Health Questionnaire (PHQ-9) is recognized as a psychometrically valid and reliable intrument; however, when assessed by means of a factor analysis method, it remains unclear whether a one- or two-factor structure is the best. Objective: To evaluate the psychometric properties and the factor structure of the PHQ-9 in medical students of a university in Peru. Material and Methods: Instrumental study in 200 medical students. An exploratory factor analysis (EFA) was performed to evaluate the internal structure of the PHQ-9, followed by a confirmatory factor analysis (CFA) of three models. Results: An adequate internal consistency was found (Cronbach’s alpha = 0,903).Through the CFA, the bifactorial model (x2 (17) = 26,451, p = 0,067; CFI = 0,991; GFI = 0,969; RMSEA = 0,056) had a better adjustment than the unidimensional and bi-dimensional factor models. Conclusion: The PHQ-9 ...