Investment analysis of stock returns in Brazil (1986 -2005) / Análise dos investimentos em ações no Brasil (1986-2005)

AUTOR(ES)

Paulo de Sá Pereira

DATA DE PUBLICAÇÃO

2006

RESUMO

The objective of this dissertation is a comparative analysis of investing in stock in Brazil compared to investing in government bonds and other reserve securities type of assets, aiming at deciding whether the incurred risk in stock has been rewarded by an increased return compared to investing in more conservative assets. The covered period of analysis is from March 1986 to December 2005. The analysis was made based on Modern Portfolio Theory and the studies were carried out on secondary data on the main financial assets and indicators, namely: the Bovespa index, the Selic rate, Gold, Dollar, Savings Accounts and one inflation indicator, the General Price Index IGP. In order to enhance the comprehension of the subject, throughout the dissertation, the history of the Stock Exchange, the economic environment of the respective economic plans, analysis of the result and a conclusion has been included. Various performed studies points to the fact that investing in stocks, represented by the Bovespa index, and when compared to fixed interest in this case, government securities remunerated according to the Selic had a lower return in spite of the greater risk

ASSUNTO(S)

indices de mercados de acoes bovespa mercado acionário investimentos modern portfolio theory investimentos -- analise mercado de acoes administracao financeira bolsa de valores stock analysis of investing ações

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