A systematic review was made of studies regarding the capital structure in Brazil during the period of 1988-2003. The recurring themes relate to the static tradeoff and pecking order in various moments of the economy, the fiscal benefits of indebtedness and interest on privately-owned capital,...

The aim of this work is to check the effect of granting tag-along rights to stockholders by analyzing the behavior of the return of the stock. To do so we carried out event studies for a group of 21 company stocks, divided into service provider companies and others, who granted this right to...

The subject insider trading is controversial. This paper presents series of event studies carried through on the trades with stocks of the firm carried by insiders with the objective to detect abnormal returns, based on the access to privileged information. The sample is composed by trades...

This study evaluates the supply of credit for the low-income population in Brazil in two periods – 2002 and 2008. During this period, an ascent of the population from the bottom of the pyramid, which has enlarged their real purchasing power due to the good economic period in Brazil and to the...

This work aims at refining and complementing the analysis of portfolios composed of commercial papers from companies with high Book-to-Market ratio, which were dealt in BOVESPA from 2004 to 2008, through the creation of an one-dimensional variable, called F_total. It synthesizes data from...

This article evaluates whether risk taking decisions of Brazilian hedge funds are influenced by past performance. More specifically, it is evaluated whether changes in funds volatility from one semester to the following are related to performance in terms of returns relative to its peers. The...

The article analyses the level of financial markets development in a sample of 42 countries and compare such level with economic, international integration and cultural characteristics of these countries. The results show that greater international integration, lower inflation, greater focus on...

This work looks into the dynamics of the competitive structure and strategic positioning of the Brazilian banks. Over the eighteen years covered by the study, we saw periods of strategic instability in this industry and differing structures of strategic groups, with regard to not only their...

The inflationary stabilization recently observed in Brazil brings a lot of changes in all aspects of the country's economic life. In this work we look at the impacts on the stock market, specifically at Bovespa - the São Paulo Stock Exchange. We analyze the leading variables and statistics that...

Does active management add or destroy value? With a sample of 699 with four different main categories: stocks, fixed income, hedge and exchange rate mutual funds we conclude that the active management add value to investors in stocks and hedge funds. But in fixed income mutual funds the evidence...