The objective of this paper is to investigate herding behavior in the Brazilian stock mutual funds. Through the study of the 100 largest funds of the category, between September/2004 and July/2008, two herding indexes are analyzed: (i) the index, proposed by Lakonishok, Shleifer and Vishny...

This article evaluates the long-term foreign exchange rate on the Purchasing Power Parity model in development countries. The tests were applied to seven countries in the Americas, eight countries in Africa, five in Asia, and five in the Middle East, using the United States as the reference...

This work investigates the relationship between intellectual capital and value creation in the sector of Production and Assembly of Vehicles and Auto-parts in Brazil. Through the access of the database from the Annual Industrial Research conducted by the Brazilian Institute of Geography and...

The study of intangible assets has been attracting growing attention of investors and companies in the last years, mainly due to its potential effect in the creation of value. This interest raises important questions regarding models to evaluate, assess and measure intangible assets and to link...

Economists have concluded that the intangible assets growth have exceeded expectations in the last years. Although there is no general agreement on its conceptualization the intangible assets's effects in the company's statements have been widely recognized, raising interest from researchers and...

The resource-based view (RBV) appears as a more comprehensive theory than the neoclassical theory to explain value creation in the capitalist system. RBV emphasizes the role of strategic resources to the firm. Barney (1991) adopts the standpoint that the stock of strategic resources is important...

This paper sought to analyze some of the supposed determinants of capital structure of the largest Brazilian firms, in light of the Pecking Order theory and the Trade-Off theory, testing the empirical validity of these theories in the local scenario. The study is an adaptation of the paper...

In the spirit of discussion of theoretical alternatives, we present the Asset-Attitude Approach that aims to bring new concepts to the study of competitive advantage. Although assets, as related to resources and capabilities, do not represent a new concept, the AAA introduces the importance of...

Competition and the quest for competitive advantages on the market are prompting companies to reshape the profiles of their relationships with their customers and suppliers. They are opting for approaches based more on cooperation, trust, loyalty and quality, instead of bargaining power or clout...

The article proposes an alternative methodology for the comparison of Gross Domestic Products (GPDs). It is an alternative to the purchasing power parity theory that utilizes the nominal exchange rate to compare GPDs. The value of the money in the conception of Hilferding is obtained dividing...