Over the last two decades, almost all countries in the world have experienced a noticeable process of liberalization and deregulation. This process has both motivated and propelled changes in the very competitive dynamics of the banking industry. Therefore, various OECD countries have changed...

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...

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...

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,...

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...

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 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...

Portuguese Abstract: Este trabalho visa avaliar o impacto da adoção das IFRS em variáveis usuais em pesquisas empíricas de finanças no mercado brasileiro, tais como: tamanho (ativo total); ativo imobilizado; ROA (retorno sobre o ativo); ROE (retorno sobre o patrimônio líquido);...

Portuguese Abstract: A literatura que estuda o desempenho de grupos empresariais apresenta resultados contraditórios, os quais podem ser creditados às escolhas metodológicas destes estudos (LAHIRI; PURKAYASTHA, 2017). Este estudo propõe uma nova metodologia e avalia o impacto no valor de...

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...