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This paper aims to examine the evolution of currency risk exposure of Brazilian corporations, especially exporting companies, from the 2008 crisis, when several companies suffered substantial losses due to the decline of the real. We analyze their financial based on the usage of derivatives, as...
Persistent link: https://www.econbiz.de/10009663426
This paper aims to examine the evolution of currency risk exposure of Brazilian corporations, especially exporting companies, from the 2008 crisis, when several companies suffered substantial losses due to the decline of the real. We analyze their financial based on the usage of derivatives, as...
Persistent link: https://www.econbiz.de/10010330592
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...
Persistent link: https://www.econbiz.de/10011818840
; leverage (measured by the ratio of total debt to book equity); and the value effect (measured by the ratio book-to-market, B … leverage tend also to increase after the adoption …
Persistent link: https://www.econbiz.de/10012904343
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...
Persistent link: https://www.econbiz.de/10011583180
Starting with Lehman Brother’s demise in September 2008, the Brazilian real fell 42% vis-à-vis the US dollar. Such large exchange rate depreciation would typically cheer exporters up. However, it was later found that many export firms, including multibillion dollar ones, had suffered large...
Persistent link: https://www.econbiz.de/10008558672
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
Persistent link: https://www.econbiz.de/10012111460
as firm level factors. Industry factors are not very important. In terms of the total debt levels, Brazilian firms have … increasing their total debt levels, in Asia there is a decreasing debt trend. The Brazilian economic tability is recent and the … instrumental for the increase of debt levels. Firms in countries with more credit restrictions take on more debt when the economy …
Persistent link: https://www.econbiz.de/10003823741
This paper has two objectives. Initially, seeks to review the main theses contained in the Brazilian economic literature on the role of the Brazilian Development Bank (BNDES) and its historical role in financing Brazilian economic development. The second objective is to analyze the perspective...
Persistent link: https://www.econbiz.de/10011372231