Stock Liquidity
Mostrando 13-19 de 19 artigos, teses e dissertações.
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13. O mercado de ações no Brasil: determinantes da expansão recente
This paper analyzes the vigorous expansion of the stock market in Brazil in recent years. Along with a substantial increase in liquidity and the strong rise in value of shares traded, there has been a renewed trend for companies to go public and obtain funding for investment through IPOs, with a significant increase in foreign and institutional investors sha
Publicado em: 2007
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14. Short-term abnormal returns of Brazilian IPOs / Análise dos retornos anormais no curto prazo das emissões primárias de ações no mercado brasileiro
The subject of thesis is the analysis of short term IPO abnormal returns in the Brazilian market. The results shows average 5.39% abnormal return for the 1st day of IPOs during 1995 until February 2007, that can be explained by high liquidity issues (driven by numbers of tickets and % of IPO stock distribution), high volumes traded (driven excess volume adju
Publicado em: 2007
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15. O impacto do nível de transparência no custo do capital próprio das empresas do Ibovespa / The impact of how disclosure it is in the own capital cost of Ibovespa companies
The reduction of the costs of the companies´ capital by means of a bigger level of transparency in the spreading of information is supported by literature in two theoretical chains. The first one affirms that a greater disclosure increases the liquidity of stocks in the market and, thus, reduces the cost of the organization´s capital by the transaction cos
Publicado em: 2007
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16. Cost of equity determination in emerging markets / Determinação do custo do capital próprio em mercados emergentes
The objective of this paper is to investigate if the Brazilian stock market is partially or totally integrated to other emerging markets. In order to do so, we tested if the following CAPM models are adequate to price stocks: local CAPM, integrated or partially integrated. Our sample includes only the more liquidity stocks of companies with ADR, because thes
Publicado em: 2006
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17. Mecanismos de Recompra de Ações e Expropriação de Acionistas Minoritários - Evidência do Brasil. / Share Repurchase Mechanisms and Expropriation of Minority Shareholders: Evidence from Brazil
We examine the impact of the recent CVM Instruction #299 of February 1999 aimed at improving minority investor rights. Prior to enactment of this Instruction, tender offers for repurchase of shares were not subject to neither disclosure nor mandatory offers. However, we have found evidence that even after enacting Instruction #299, minority shareholders are
Publicado em: 24/11/2005
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18. DIFERENÇAS DE PREÇOS ENTRE AÇÕES ORDINÁRIAS E PREFERENCIAIS / PRICE DIFFERENCES BETWEEN VOTING AND NON-VOTING SHARES / DIFERENCIAS DE PRECIOS ENTRE ACCIONES ORDINARIAS Y PREFERENCIALES
Este estudo avaliou o comportamento das diferenças de preços entre ações ordinárias e preferenciais de um conjunto representativo de empresas com ações negociadas na BOVESPA no período 1995-1999, testando o impacto também das mudanças na lei das SAs ocorridas em 1997. Os testes realizados indicaram que no decorrer do período estas mudanças influe
Publicado em: 2001
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19. A STOCHASTIC MODEL FOR THE NUMBER OF TRANSACTIONS IN THE BRAZILIAN CAPITAL MARKET: WITH APPLICATION IN SIMULATING DAILY RETURNS OF STOCK IN THE FRAMEWORK OF A TIME DEFORMATION MODEL / UM MODELO ESTOCÁSTICO PARA O NÚMERO DE NEGÓCIOS COM AÇÕES DO MERCADO DE CAPITAIS BRASILEIRO: COM APLICAÇÃO EM SIMULAÇÃO DE RETORNOS DIÁRIOS ATRAVÉS DE DEFORMAÇÃO TEMPORAL
This thesis proposes a new stochastic model for the daily number of transactions with stocks in the Brazilian capital market. The model, which we call ZINB-HF (Zero ¿ Inflated Negative Binomial Harvey- Fernandes), is an extension of a local scale model for count data. In it, the daily number of transactions follows a serially correlated negative binomial di
Publicado em: 2000