Finanças comportamentais e a formação de bolhas especulativas

Economic crises caused by speculative bubbles are recurring in economic history but there is still no consensus on how it begins, grows and overflows. Economists and regulators seem to be inefficient in predicting and preventing this process, which is so detrimental to economic functioning. This failure proved to be obvious with the American subprime crises, which had great impact on various sectors of the U.S. economy. In this paper, we perform a literature review of the traditional theory of finance, mainly represented by the Efficient Market Hypothesis. According to this theory, asset prices always reflect their intrinsic value, assumption that doesn’t match the price boom followed by a crash, observed in the crisis generated by speculative bubbles. Finally, we present a new way to analyze this phenomenon, in the light of the investors’ behavioral aspects and the flaws inherent to the financial markets

Análise de risco em carteiras

The work consists of analyzing the risk management of investments by applying statistical concepts, economic and mathematical models considering the assets on the market on renowned financial institution. The assessment of these risks becomes increasingly interesting in view of minimizing your losses thus maximizing your chances of gains in both markets boom as extreme uncertainty, even with the sudden changes of scenery. Introducing concepts of investment funds, as well as the classification of the types of funds as funds management and equity, its guidelines, the concept of market investment funds. The types of assets comprising the investment funds, their taxation rules beyond the incidents that market widely used by investors and skilled people, both physical and legal, who keep their resources in this modality. With the historical data collected yields of investment funds of the Bank of Brazil, is an accomplished inflation adjustment and calculated the mean and variance for the verification of the model of Markowitz efficient frontier, a method used as investment analysis. This scan is used Matlab to obtain the set (or border) efficient portfolios. Once verified such data, there will be a critique of the Markowitz model as a quadratic programming and more coherent risk measures currently studied as VaR and CVaR minimizing the expected error, approaching our studies of current research. It is found that such studies have much to be explored, since there are many discussions about how effectively measure risk investments such as its characteristic and behavior, using a time series and volatility

White Noise e Cosmopolis: análise do processo de desumanização em ficções pós-modernas

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Utilização do modelo da barganha de Nash na seleção de carteiras

This paper discussed the model of Nash bargaining (NASH, 1950, 1953), which its arbitration function is invariant for the linear transformations. A more robust model was proposed with respect to the incommensurable effect. The result obtained by the optimization process was not influenced by the units or the amplitude values of these measures. The risk and the return is measured in portfolios of assets and defined a risk metric, return and a method to handle the risk and return. For this, we made a review on the main characteristics of Brazilian industry funds and their evolution over the past years, in addition to treating on the risk in the financial market, the importance of portfolio selection and the Markowitz Model. Are made closing remarks, an analysis of the results, some suggests, concerns and how such concerns can be improved and / or explored in future studies

Uma análise da presença sindical nos Institutos de Previdência Municipal na região do ABC

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Aplicação da moderna teoria do Portfólio em ativos não financeiros

The Markowitz's objective functions, Value-at-Risk and Conditional Value-at-Risk, are largely used tools in the financial Market for portfolio optimization. This paper tries to analyze these functions having as a target to adapt them for application in non-financial assets portfolios. The paper uses as an example the Electricity Market to analyze and optimize a fictitious investment portfolio of a possible electric power utility. Showing that, besides being possible, which considerations must be taken and which analysis must be made to apply the Modern Portfolio Theory in the non-financial universe

A matemática financeira e a estatística como ferramentas para uma gestão financeira consciente

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Do cooperativismo ao corporativismo: um estudo sobre a produção e comercialização de flores e plantas em Holambra/SP

Cooperatives as, in theory, an alternative front to the logic of financial markets, the territory has, in theory, an organization which differs from the structure based on the competitiveness of the capitalist system. The municipality of Holambra (SP) presents the marketing of flowers and ornamental plants, along with their production, the cooperative system, which started in the Cooperative Veiling Holambra. However, this cooperative as it is effective in cooperative study in question, it is questionable as to its structure and operation, by taking features that most resemble the corporatist practices of the cooperative. And because the cozy territory of all new technical systems that have and are being installed, the study seeks to understand these cooperative structures from the use made by the renewed objects and actions of the territory

Distribuição estatística de um indexo econômico em mercado emergente - Bolsa de valores de São Paulo (IBOVESPA)

Pós-graduação em Física - IGCE

Esforço de modernidade do mercado de capitais no Brasil: o novo mercado

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

O mercado editorial na formação dos professores da educação básica: levantamento e caracterização de revistas pedagógicas (1996-210)

A pesquisa tem por foco o mercado editorial voltado para a formação dos professores da educação básica, com ênfase para as revistas pedagógicas com periodicidade regular em circulação na região Sudeste do país. Objetivou-se reconhecer e caracterizar manifestações desse mercado a partir da análise da materialidade das revistas, buscando encontrar também representações sobre os professores e sua profissão. O trabalho foi realizado sob uma abordagem qualitativa, nos moldes da pesquisa documental. Em um primeiro momento, realizou-se a identificação de quais são as revistas pedagógicas disponíveis no mercado e a que tipo de profissional elas se destinam, partindo de levantamento de materiais presentes em bancas de jornal, livrarias, bibliotecas e também em sites especializados. O segundo momento caracteriza-se pela análise e comparação da materialidade das revistas. Trata-se de um Trabalho de Conclusão de Curso que teve apoio financeiro pelo Programa Institucional de Bolsas de Iniciação Científica da Pró-Reitoria (PROPE) de Pesquisa da UNESP (PIBIC/Reitoria). É parte do projeto “Mercado de formação docente: constituição, funcionamento, possibilidades e limites”, financiado pelo CNPq, que por sua vez integra o Projeto Temático FAPESP “Programas Especiais de Formação de Professores, educação a distância e escolarização: pesquisas sobre novos modelos de formação em serviço

O impacto da adesão aos diferentes níveis de Governança Corporativa para o desempenho econômico e financeiro de um segmento de empresas

The importance of the capital market to Brazilian economic development, linked to the the fragility of a theoretical framework on the issue, case for developing this research. The agents operating in the capital market seek security and confidence for decision making on their investment in that sense we seek to address the concept and values of Corporate Governance to pay in the Brazilian capital market. The Corporate Governance, in its essence, is the system by which companies are directed and monitored, involving the relationship between shareholders and the board of companies, as well as a set of mechanisms and factors intended to minimize market failures. Seeking to confirm adherence to a more advanced system of corporate governance can result in a favorable financial performance, companies were investigated operating in the financial sector (intermediation, various services and insurance), listed by BM&FBOVESPA. The stock market ranks the corporate governance systems in three levels: Level 1 (rudimentary), Level 2 (intermediate) and New Market Level (advanced). To earn the impact of different levels of Corporate Governance for the outcome of the selected companies were calculated and analyzed accounting ratios of profitability, capital structure and liquidity from the Standardized Financial Statements (DFP), base year 2011, 2012 and 2013