Return reversal of Latin American industries

Purpose This study analyzes inter-industry reversal, or whether loser or underperforming industries yield higher returns than winner or outperforming industries in Latin America. The phenomenon is likewise examined in market segments that are more prone to inefficiencies and short-selling barriers. It also investigates intra-industry reversal by assessing whether loser stocks outperform winner stocks within the same industry. The analysis is then extended to market segments defined by stock char