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...

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...

This paper examines how regulatory interventions can affect the market risk of electricity utilities and telecom carriers traded in the Brazilian stock market. Our article uses a bivariate Generalized AutoRegressive Conditional Heteroskedasticity (GARCH - BEKK) model to analyze the impact of two...

Capital stock in residential structures, as well as the distribution of its appropriation and ownership among families are fundamental determinants of the wealth, welfare and productivity of the economy. As part of a broad project on the stock of capital of the Brazilian economy in the 20th...

This paper examines how regulatory interventions can affect the market risk of electricity utilities and telecom carriers traded in the Brazilian stock market. Our article uses a bivariate Generalized AutoRegressive Conditional Heteroskedasticity (GARCH - BEKK) model to analyze the impact of two...

Portuguese Abstract: Neste artigo investiga-se o que determina o fluxo de recursos para fundos de investimentos brasileiros. Constata-se que investidores são mais atentos ao risco de mercado (beta) ao avaliar fundos, enquanto tendem a atribuir o retorno de fatores como tamanho, valor, momentum,...

Portuguese Abstract: Esse trabalho estuda os efeitos da introdução de uma nova legislação voltada para empresas estatais no Brasil. Particularmente, analisa se essa nova legislação, ao promover ganhos de governança corporativa, leva à redução da percepção de riscos na administração...

Capital stock in residential structures, as well as the distribution of its appropriation and ownership among families are fundamental determinants of the wealth, welfare and productivity of the economy. As part of a broad project on the stock of capital of the Brazilian economy in the 20th...

A avaliação de técnicas de combinação de previsões para previsão de valores esperados de uma série é um tópico bastante difundido, com a recomendação do uso de tais técnicas para previsão. Por outro lado, não há estudos comparativos do desempenho de combinação de previsões...

El modelo de valoración de activos basado en el consumo, CCAPM, ha sido objeto de estudio para distintas economías, dando lugar a diversas anomalías empíricas, entre ellas, el denominado enigma de la prima de riesgo. Los valores del parámetro de aversión relativa al riesgo necesarios para...