Análise da sobre-reação e sub-reação nos ativos de primeira e segunda linha do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Negros misturados: um estudo de caso sobre identidades negras em Mossoró-RN

With more or less 213.000 habitants, Mossoró is the second more developed city from the Rio Grande do Norte. The town is proclamated like the land of freedom. To so far, exist four moments in your history related with the defence of freedom that is point like truthful from so proclamation. Suchlike happenings are the first female vote on Brazil, the resistance against the Lampião s band, the worman s mutiny and the slave release in 1883, five year before the Áurea law sanction. These happenings are commemorate yearly on setember with one big theatrical event called by the freedom high. Inside this contexto of exaltation to freedom, there is one black movement by name black and beautiful. Is the present dissertation, talked about the building of black identities between the black militants of Mossoró and the dwellers from the Santo Antônio district. With such approach, we intend to think about possibles differences or likeness, how the militants and dwellers from the refered district self-calleds like blacks or not. We are understanding black identity like one process to self-affirmation done by specificities of the social context and the individual particularity. This way, the identity change into one dynamic and contextual reality, gone always by one business process against the interaction of the social actors. So we search to discuss the specificities that involve the process to building of black identities in the city of freedom

A Performance como Outro Lugar da Escrita: Escritura, Autoperformance e Emergência

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior