: This paper analyzes the cause-effect relation between national milk supply and the price paid to Brazilian producers. It also seeks to model the expected returns on a monthly basis for the price of milk paid to producers in Brazil. Logarithmic returns of domestic supply and price of milk are...

In this paper, we identify the bid-ask spread components in the Brazilian market at intraday high frequency. To do so, we use data from all stocks that compose the Ibovespa in 10-minute frequencies from January to March of 2013. We use the model of Huang and Stoll (1997). Preliminary results...

The influence of liquidity on return on assets has been subject of much research in recent years, from the point of view of individual assets as well as considering the liquidity of the market as a whole. This study aims to evaluate the influence of change in liquidity in the pricing of assets....

In this article copula theory is used to analyze the co-movements between the Brazilian and American capital markets. To formulate an effective asset allocation strategy, it is important to understand extreme events – both positive (booms) and negative (crashes) – and their effects on...

In the emerging field of behavioral finance, including human behavior aspects and implications of cognitive phsychology and anthropology in decisions are considered. The formulated hypotheses were tested by way of 400 questionairres answered by students enrolled in MBA programs. The principal...

The strategy adopted by a company can be understood as the result of mechanisms and practices of corporate governance. In turn, the performance of a firm depends directly on the decisions made by its administrators. However, managers can incorporate their own personal interests in strategic...

Disclosure transparency is one of the pillars of good corporate governance. Moreover, the digital age has produced a dramatic shift in the corporate communication paradigm. As a result, companies increasingly use the Internet as an investor relations medium and a vehicle to disseminate financial...

Society has been imposing standards of ethical behavior on the corporations, above all as regards the degree of transparency of information about their activities being made available to the public. At the same time the world has gone through changes because of the Information Age. The old...