We analyse the effect of leverage components and banks' "business model channels" on risk-taking for Brazilian banks. Using a detailed dataset from the Brazilian financial system, the results show that the measurement of leverage components is relevant for determining banks' risk. We highlight...

In this paper, I propose a method to disentangle the informational content of the average Tobin’s q by decomposing it into tangible q and intangible q. I argue that this decomposition increases the explanatory power of the q theory of investment by considering the different nature of corporate...

The present article intend to verify the presence of speculative rational bubbles, starting from the identification of switching regime of the returns generation process in the brazilian market exchange, BOVESPA, for the Plano Real period (July of 1994 to March of 2004). In order to achieve this...

The present article intend to verify the presence of speculative rational bubbles, starting from the identification of switching regime of the returns generation process in the brazilian market exchange, BOVESPA, for the Plano Real period (July of 1994 to March of 2004). In order to achieve this...

We analyze the relationship between innovation and firms' performance in Brazil using a comprehensive database that cross-references innovation information by PINTEC (Technological Innovation Research) of the IBGE (Brazilian Institute of Geography and Statistics) and financial information from...