Stock Market Efficiency
Mostrando 13-24 de 28 artigos, teses e dissertações.
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13. The relationship between market returns and accounting returns: a case study of banking sector / A relação entre retornos de mercado e retornos contábeis: um estudo de caso do setor bancário brasileiro
This paper examines the relationship between accounting and market quarterly eturns of the largest companies in the banking sector using the econometric test causality of Granger, and investigated the behavior of tock prices of banks before nd after the financial disclosures. The sample used is the four major Brazilian banks raded on BOVESPA during the third
Publicado em: 2008
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14. Um indicador de desempenho para seleção de ativos das empresas de celulose e papel no mercado financeiro
How to make decisions in the financial market in dynamic, turbulent, risky, complex and uncertain scenarios? This thesis explains a small fraction of that unstable market as offers answers to the pulp and paper assets selection in the São Paulo Stock Exchange - Bovespa. Thus, it is compared the pulp and paper companies performance in the period from January
Publicado em: 2008
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15. A sobre-reação do mercado à realização de informações intangíveis
Explicar os conhecidos efeitos Book-to-Market (B/M), sobre-reação dos investidores e reversão de retornos tem sido uma grande preocupação dos estudos acadêmicos nas últimas décadas. Esta dissertação reproduz, para o mercado de ações brasileiro, recentes estudos feitos para o mercado norte-americano que demonstram que estes fenômenos, há muito t
Publicado em: 2008
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16. The capm and fama-french models in brazil
This paper confronts the Capital Asset Pricing Model - CAPM - and the 3-Factor Fama-French - FF - model using both Brazilian and US stock market data for the same Sample period (1999-2007). The US data will serve only as a benchmark for comparative purposes. We use two competing econometric methods, the Generalized Method of Moments (GMM) by (Hansen, 1982) a
Publicado em: 17/12/2007
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17. The relation between stock returns and EVA, residual income, mandated performance measures: a empirical study applied to Brazilian companies with open capital / A relação do retorno das ações com o EVA, com o lucro residual e com as medidas contábeis tradicionais: um estudo empírico aplicado às empresas brasileiras de capital aberto
The huge propagation of the EVA® (Economic Value Added) concept allows companies to use this performance measure to prove how much value was added for the owners. These companies hope positive EVA®s increase firm values in the market. In this direction, some studies prove a strong association between EVA® and stock returns, confirming that the positive EV
Publicado em: 2007
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18. Análise do comportamento dos retornos acionários frente ao registro de ofertas públicas de aquisição de ações no Brasil
The informal asymmetric level, which means the time needed for transcribed assets to incorporate new information available in the market, allows abnormal gain by companies in the market, as it is the assumption that the market efficiency presents itself in a semi-strong form. According to this scenario, the present study aims to examine the relationship betw
Publicado em: 2007
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19. A formação de alianças estratégicas no Brasil e a criação de valor para as empresas participantes
In the past few years, strategic alliances have been more and more used as alternatives to the vertical integration of companies. Continuing a line of investigation that began in the middle of the eighties with the classic article written by McConnell e Nantell (1985), the purpose of this essay is to evaluate the impact of announcements of strategic alliance
Publicado em: 2007
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20. EFFECTS OF SOVEREIGN RATING CHANGES OF EMERGING COUNTRIES OVER BRAZILIAN STOCK MARKET / EFEITOS DE MUDANÇAS DE RATINGS SOBERANOS DE PAÍSES EMERGENTES SOBRE O MERCADO ACIONÁRIO BRASILEIRO
O objetivo do presente estudo foi investigar a possibilidade de alterações de ratings soberanos de países emergentes produzirem efeitos no mercado acionário brasileiro. Para tanto, adotou-se o teste estatístico paramétrico de estudo de evento, amplamente utilizado para testes de eficiência semi-forte de mercado. Os resultados sugerem que alterações
Publicado em: 2006
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21. The effect of differentiated levels of corporate governance on brazilian stock price: a study event to the announcement and adherence / O impacto do anúncio e da adesão das ações aos níveis diferenciados de governança corporativa no Brasil
Corporate Governance practices? aim is to mitigate the problems originated from managerial agency issues, which arise when corporate ownership and its control are detached. In the end of the year 2000, Bovespa (São Paulo Stock Exchange) introduced the concept of differentiated corporate governance practices levels (Level 1, Level 2 or ?Novo Mercado?). In or
Publicado em: 2006
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22. Plano Real e a Bolsa de Valores de São Paulo
The inflationary stabilization recently observed in Brazil brings a lot of changes in all aspects of the country s economic life. In this work we look at the impacts on stock market, specifically at the Bovespa São Paulo Stock Exchange. We analyze the mainly variables and statistics that describes Bovespa s Index behavior as volatility and systematic risk
Publicado em: 24/11/2005
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23. Gerenciamento do risco de mercado baseado no Value at Risk estÃtico e dinÃmico para carteira de aÃÃes e opÃÃes negociadas na Bovespa / Actions stock market; Value at Risk (VaR)
This thesis approaches the riskâs administration of the market using Value at Risk (VaR), which became widely used technique for measuring future expected risk for both financial and non-financial institutions. The VaR measures the largest expected loss in given period of time that expected loss is depending of suppositions about the distribution of return
Publicado em: 2005
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24. A importância da logística para a competitividade das empresas: estudo de caso na indústria do pólo de Camaçari.
This work has the main objective of analyzing the side effects caused by the localization of the petrochemical plants distant from consuming market, on the logistics of distribution and competitiveness. The changes in the national petrochemical industry and the insertion of Rio de Janeiros plants on the operation shall increase the southwest market dispute,
Publicado em: 2005