Motoki, Fabio Yoshio Suguri; Gutierrez, Carlos Enrique … - In: Applied Finance and Accounting 1 (2015) 1, pp. 47-59
This study explores the relationship between firm performance and business cycles. These cycles are deviations from the trend of an economy-wide variable, in our case, GDP. Using a sample of Brazilian listed firms and accounting measures of performance, we find a generally positive...