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...

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...

The study analyses the role of institutional characteristics of a country (governance) and the domestic financial system (depth, efficiency, stability, and capital openness) in determinants of emerging market corporate bond spreads issued in international market. We propose an econometric panel...

The study analyses the role of institutional characteristics of a country (governance) and the domestic financial system (depth, efficiency, stability, and capital openness) in determinants of emerging market corporate bond spreads issued in international market. We propose an econometric panel...

Portuguese Abstract: As micro e pequenas empresas (MPE) têm um papel de destaque na geração de renda e emprego no Brasil. Em 2016, as MPE representavam 99% das empresas brasileiras e empregavam mais de 50% da mão de obra nacional. O ambiente para a abertura de novas empresas no Brasil tem...

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...

Portuguese Abstract: Em uma economia emergente, na qual seus governos gastam com o serviço de sua dívida um volume de recursos igual ou superior ao que se despende com muitos dos gastos sociais antes mencionados, nunca é demais conhecer e refletir sobre o citado endividamento governamental....