OBJECTIVES This research aimed to verify the performance of the Volatility Timing (VT) and Reward to Risk Timing (RRT) models of portfolio selection when compared with the Naïve and Mean-Variance ones, applied to the Brazilian stock market.METHODOLOGYThe methodology consists in applying the VT,...

This paper analyzes the effect of investor monitoring on the performance of equity investment funds. For that purpose, we analyze the relationship between fund performance, measured using four-factor Alpha, and a set of control variables and monitoring proxy variables. We used monthly data for...

The pecking order theory, or preferences in terms of sources of finance, is an important proposal to explain the financing decisions, and firm's capital structure. Recent publications had criticized this theory, alleging that it would not be a valid explanation for capital structure decisions,...

In this study, the predictive power of a logistic smooth transition auto regression model (LSTAR) in generating statistically significant returns is evaluated when the transition variable is trading volume and the lagged return itself, for the Sao Paulo Stock Exchange's Ibovespa Index, with the...

The objective of this article was to analyze the theoretical-methodological evolution in the finance area, emphasizing the important stages, marking their contributions and contradictions, with special emphasis in the dominant paradigm and the post-modern critics. It is a theoretical reflection...

The financial restrictions affect the business conduct, especially in the cash flow financial management to undertake good investment projects. The aim of this study was to identify what the proportion and characteristics of companies that have an active cash management policy. For both, we used...

This study analyzes the performance of Brazilian Investment Funds between May 2001 and May 2006, using as a guideline the division in fixed-income funds and equity funds. The performance is evaluated in terms of risk and return, using Sharpe and Sortino indexes, with the returns and volatilities...

This study aims to identify whether a relationship exists between the controlling shareholders' voting power and outside directors' effectiveness in maximizing firms' financial performance. We analyze a panel data with 3057 observations for the 2000–2012 period using a random effects model,...