EFFECTS OF LATIN AMERICA SOVEREIGN RATINGS CHANGES OVER THE BRAZILIAN STOCK MARKET / EFEITOS DE MUDANÇAS DE RATINGS DE PAÍSES DA AMÉRICA LATINA NO MERCADO ACIONÁRIO BRASILEIRO
AUTOR(ES)
ANA CAROLINA MINSKY BITTENCOURT
DATA DE PUBLICAÇÃO
2008
RESUMO
The objective of this study was to investigate if sovereign rating changes for Latin America affect the Brazilian stock market. To measure this potential impact, the parametrical statistical test of event study was adopted, commonly used in semi-strong market efficiency tests. The results support the idea of contagion effects in the Brazilian Market through the IBX index. This study also concludes that the impact depends on the type of announcement of ratings changes.
ASSUNTO(S)
eficiencia de mercado market efficiency latin america risk rating america latina event study classificacao de risco estudo de eventos
ACESSO AO ARTIGO
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