This study discusses regulatory agencies' development in Brazil in response to prior privatization. It highlights a case study of government officials' regulatory intervention in the electricity sector, which exposed the business environment to long-lasting regulatory risks. We empirically...

This paper begins with an assessment of the Dodd-Frank Act and the European Commission financial reform proposal regarding Credit Rating Agencies (CRAs) business models, supervision and regulatory reliance on the use of Credit Rating Agencies' (CRAs) opinions. It concludes that they still do not...

Objective: Analyze the reactions of the stock market to M&A announcements, i.e. find out if there was value creation and consequently maximization of shareholder wealth or whether there was value destruction and consequently a decrease in the wealth of the shareholders of the acquiring companies...

This paper analyzes the evolution of the private equity and venture capital industries in Brazil, using the U.S. market as an ideal type. The main challenges faced by this sector in Brazil are the volatility of the economy, a lack of seed capital, and the illiquidity of capital markets, which...

The over-the-counter (OTC) derivatives were considered a core cause for the increase of the systemic risk in the global markets, which ended up in the burst of the markets on the financial crisis in 2008. Among the lessons learned, the need to improve the transparency, controls and surveillance...