Showing 1 - 10 of 18
The present paper analyses the influence of the judiciary and bankruptcy law in the credit market and in the economic growth in differents regions of the world. This paper also criticizes the current "Law and Finance" theory, mainly the papers of La Porta et al (1997,1998) and Levine et al...
Persistent link: https://www.econbiz.de/10004968547
The bankruptcy of three big private banks (Econômico, Nacional and Bamerindus) in the beginning of the Plano Real has been attributed to the fast and intense growth of loan after the fall of inflation. The three banks balance sheet data, however, show a decrease in credit amount or a very small...
Persistent link: https://www.econbiz.de/10005784968
decision under uncertainty can be properly conducted by Real Options Theory. Thus, in this study, is proposed a model to … agribusiness in Brazil. The landowners using real options approach for decision making, can optimize their resources. …
Persistent link: https://www.econbiz.de/10013400229
investment. To the similarity of other applications of the real options, we confirm that, in uncertainty context, the traditional …
Persistent link: https://www.econbiz.de/10015246174
real options term, these options possess value, which will increase the value of an investment that possesses them. The … traditional investments evaluation methods are not enough to catch the value associated with the real options. We will have to … appeal to the options valuation theory and in analogy with that catch the true value of investments with real options. …
Persistent link: https://www.econbiz.de/10015246179
We thoroughly describe the workings of the Brazilian interbank exchange rate market: agents, products, regulation, operation and risks. We analyse the recent evolution of the exchange rate market and came to a negative evaluation of the current exchange rate trading system, thereby suggesting an...
Persistent link: https://www.econbiz.de/10011807334
In theory, prices of current-month federal funds futures contracts should reflect market expectations of near-term movements in the Federal Reserve's target level for the federal funds rate. However, empirical results show that such measures of market expectations are too noisy to predict...
Persistent link: https://www.econbiz.de/10005649170
Este artigo examina empiricamente a demanda de derivativos de câmbio de empresas brasileiras de capital aberto. Para tanto, construimos um banco de dados original com 23.767 contratos de swap cambial entre empresas e instituições financeiras em aberto em 2002. A partir destes contratos,...
Persistent link: https://www.econbiz.de/10005551033
We thoroughly describe the workings of the Brazilian interbank exchange rate market: agents, products, regulation, operation and risks. We analyse the recent evolution of the exchange rate market and came to a negative evaluation of the current exchange rate trading system, thereby suggesting an...
Persistent link: https://www.econbiz.de/10005222453
English Abstract: The long-horizon event study methodology is used to document the severe impact of the US subprime mortgage crisis on the Colombian economy. The estimated parameter of a constant mean return model is used to derive the “abnormal return” on the market portfolios of Colombia...
Persistent link: https://www.econbiz.de/10012949082