Investimento e financiamento: um enfoque sobre empresas de capital aberto

O objetivo do artigo é analisar os determinantes do investimento para uma amostra com 334 empresas no Brasil para o período de 1998 a 2000. As empresas foram selecionadas segundo o critério de liquidez acionário através do índice de negociabilidade de 1998 da Bolsa de Valores de São Paulo, que aponta o grau de liquidez das ações. Com isso, procuramos contribuir para o entendimento do financiamento das empresas no Brasil em condições de instabilidade macroeconômica.

Underlying dynamics of typical fluctuations of an emerging market price index: the Heston model from minutes to months

We investigate the Heston model with stochastic volatility and exponential tails as a model for the typical price fluctuations of the Brazilian São Paulo Stock Exchange Index (IBOVESPA). Raw prices are first corrected for inflation and a period spanning 15 years characterized by memoryless returns is chosen for the analysis. Model parameters are estimated by observing volatility scaling and correlation properties. We show that the Heston model with at least two time scales for the volatility mean reverting dynamics satisfactorily describes price fluctuations ranging from time scales larger than 20min to 160 days. At time scales shorter than 20 min we observe autocorrelated returns and power law tails incompatible with the Heston model. Despite major regulatory changes, hyperinflation and currency crises experienced by the Brazilian market in the period studied, the general success of the description provided may be regarded as an evidence for a general underlying dynamics of price fluctuations at intermediate mesoeconomic time scales well approximated by the Heston model. We also notice that the connection between the Heston model and Ehrenfest urn models could be exploited for bringing new insights into the microeconomic market mechanics. (c) 2005 Elsevier B.V. All rights reserved.

Entropia de Tsallis e sua aplicação em ações da Bolsa de Valores

Pós-graduação em Física - IGCE

Verificação e análise dos fatos estilizados no mercado de ações brasileiro

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Aplicação de um sistema de Inferência Fuzzy de suporte à decisão para estimação de valores de ações cotadas na Bolsa de Valores de São Paulo

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Governança corporativa em empresas de capital aberto: uma contribuição da ciência da informação para análise da informação estratégica

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Mercado de ações brasileiro: uma investigação empírica sobre suas relações de longo prazo e de precedência temporal pré-crise de 2008

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Disseminação da informação em empresas de capital aberto e os processos de mediação da informação

Corporate governance can be understood as management mechanisms that through external and internal controls are going to reduce the distance between minority stakeholders and the control power of the company. In that context, the information management, the information mediation and the information dissemination is very necessary, because the establishment of the good communication, quick, clear and voluntary, in order to establish a confidence climate in the relation of the company with the society, creditors, and collaborators especially with investors. In Brazil, the model created by the stock exchange of São Paulo called of new market , brings in his additional conduct rules purpose to them required by the Brazilian legislation and possessed like base the equity in the handling between part, the transparency in the disclosure of information and responsibility in the installment count. This article presents some considerations about the model of information management and accountability based on legal criteria, in additional standards of information disclosure, and the information mediation process relationship the corporate governança in the business environment.

Suposição de normalidade e gestão de risco: uma aplicação do var paramétrico via teste de aderência

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Do sonho à luta de sobrevivência na Amazônia: a caminhada das famílias camponesas do Projeto RECA

Pós-graduação em Ciências Sociais - FCLAR

Glória e tragédia: a dualidade da prestação de contas do Sport Club Corinthians Paulista em seus relatórios de sustentabilidade

Pós-graduação em Comunicação - FAAC

Aplicações das Cadeias de Markov para o Ensino Médio

Pós-graduação em Matemática em Rede Nacional - IBILCE

Effects of chronic acetazolamide administration on gas exchange and acid-base control in pulmonary circulation in exercising horses

P>Reasons for performing study:Carbonic anhydrase (CA) catalyses the hydration/dehydration reaction of CO(2) and increases the rate of Cl- and HCO(3)- exchange between the erythrocytes and plasma. Therefore, chronic inhibition of CA has a potential to attenuate CO(2) output and induce greater metabolic and respiratory acidosis in exercising horses.Objectives:To determine the effects of Carbonic anhydrase inhibition on CO(2) output and ionic exchange between erythrocytes and plasma and their influence on acid-base balance in the pulmonary circulation (across the lung) in exercising horses with and without CA inhibition.Methods:Six horses were exercised to exhaustion on a treadmill without (Con) and with CA inhibition (AczTr). CA inhibition was achieved with administration of acetazolamide (10 mg/kg bwt t.i.d. for 3 days and 30 mg/kg bwt before exercise). Arterial, mixed venous blood and CO(2) output were sampled at rest and during exercise. An integrated physicochemical systems approach was used to describe acid base changes.Results:AczTr decreased the duration of exercise by 45% (P < 0.0001). During the transition from rest to exercise CO(2) output was lower in AczTr (P < 0.0001). Arterial PCO(2) (P < 0.0001; mean +/- s.e. 71 +/- 2 mmHg AczTr, 46 +/- 2 mmHg Con) was higher, whereas hydrogen ion (P = 0.01; 12.8 +/- 0.6 nEq/l AczTr, 15.5 +/- 0.6 nEq/l Con) and bicarbonate (P = 0.007; 5.5 +/- 0.7 mEq/l AczTr, 10.1 +/- 1.3 mEq/l Con) differences across the lung were lower in AczTr compared to Con. No difference was observed in weak electrolytes across the lung. Strong ion difference across the lung was lower in AczTr (P = 0.0003; 4.9 +/- 0.8 mEq AczTr, 7.5 +/- 1.2 mEq Con), which was affected by strong ion changes across the lung with exception of lactate.Conclusions:CO(2) and chloride changes in erythrocytes across the lung seem to be the major contributors to acid-base and ions balance in pulmonary circulation in exercising horses.