Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil

Detalhes bibliográficos
Autor(a) principal: Bicalho, Filipe Carneiro
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: por
Título da fonte: Biblioteca Digital de Teses e Dissertações da UCB
Texto Completo: https://bdtd.ucb.br:8443/jspui/handle/tede/2410
Resumo: Nowadays, in the midst of increased life expectancy, which means a higher proportion of elderly to young, the situation of Brazil???s Public Pension system has turned out to be the focus of many questionings, mostly about its sustainability. Being aware of the fragilities of the social security system and a clear necessity of a reform, investors are looking more and more to alternative ways to guarantee some income after they retire. One of the most obvious investments are the pension funds, which have been on the spot ever since Brazil has been in this scenario of uncertainties. Considering this greater visibility that this scenario has brought to pension funds, this work intends to make an evaluation of the performance of them, during the years of 2010 to 2015. Having this in mind, this paper will look into the return of the investments of pensions funds during those years mentioned, searching for explanations to have a better understanding of the causes of the performance of these funds. This analysis will be done by a dynamic panel model, which will test how economic indexes can affect the investments of these funds.
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spelling Silva Filho, Osvaldo C??ndido dahttp://lattes.cnpq.br/3691103797905606http://lattes.cnpq.br/3867005457610411Bicalho, Filipe Carneiro2018-06-18T18:14:31Z2018-02-26BICALHO, Filipe Carneiro. Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil. 2018. 32 f. Disserta????o (Programa Stricto Sensu em Economia de Empresas) - Universidade Cat??lica de Bras??lia, Bras??lia, 2018 .https://bdtd.ucb.br:8443/jspui/handle/tede/2410Nowadays, in the midst of increased life expectancy, which means a higher proportion of elderly to young, the situation of Brazil???s Public Pension system has turned out to be the focus of many questionings, mostly about its sustainability. Being aware of the fragilities of the social security system and a clear necessity of a reform, investors are looking more and more to alternative ways to guarantee some income after they retire. One of the most obvious investments are the pension funds, which have been on the spot ever since Brazil has been in this scenario of uncertainties. Considering this greater visibility that this scenario has brought to pension funds, this work intends to make an evaluation of the performance of them, during the years of 2010 to 2015. Having this in mind, this paper will look into the return of the investments of pensions funds during those years mentioned, searching for explanations to have a better understanding of the causes of the performance of these funds. This analysis will be done by a dynamic panel model, which will test how economic indexes can affect the investments of these funds.Atualmente, em meio ao aumento da expectativa de vida e, consequentemente, da propor????o de idosos em rela????o ao n??mero de jovens, a situa????o da previd??ncia p??blica no Brasil vem sendo foco de crescentes questionamentos relacionados ?? sua sustentabilidade. Cientes das fragilidades latentes do sistema previdenci??rio brasileiro e, al??m disso, da necessidade de reforma no mesmo, os investidores est??o buscando, cada vez mais, fontes alternativas para garantirem uma renda na aposentadoria. Um dos investimentos mais procurados ?? o da previd??ncia complementar, que vem ganhando uma maior ades??o nesse cen??rio de incertezas. Levando em considera????o essa maior visibilidade que os fundos de previd??ncia complementar tem ganhado no cen??rio atual brasileiro, o presente trabalho busca fazer uma avalia????o do desempenho dos mesmos no per??odo que se estende de 2010 a 2015. Tendo isso em vista, o trabalho ir?? analisar o retorno dos investimentos dos fundos de pens??o brasileiros no decorrer do per??odo previamente mencionado, buscando explica????es para entender os determinantes do desempenho desses fundos. A an??lise em quest??o ser?? realizada atrav??s de um modelo de painel din??mico, em que se verificar?? a forma como os diversos indicadores econ??micos podem afetar a rentabilidade dos mesmos.Submitted by Sara Ribeiro (sara.ribeiro@ucb.br) on 2018-06-18T18:13:20Z No. of bitstreams: 1 FilipeCarneiroBicalhoDissertacao2018.pdf: 1555567 bytes, checksum: b3591e7066fe9f61f4ed8050a278819d (MD5)Approved for entry into archive by Sara Ribeiro (sara.ribeiro@ucb.br) on 2018-06-18T18:14:31Z (GMT) No. of bitstreams: 1 FilipeCarneiroBicalhoDissertacao2018.pdf: 1555567 bytes, checksum: b3591e7066fe9f61f4ed8050a278819d (MD5)Made available in DSpace on 2018-06-18T18:14:31Z (GMT). No. of bitstreams: 1 FilipeCarneiroBicalhoDissertacao2018.pdf: 1555567 bytes, checksum: b3591e7066fe9f61f4ed8050a278819d (MD5) Previous issue date: 2018-02-26application/pdfhttps://bdtd.ucb.br:8443/jspui/retrieve/5725/FilipeCarneiroBicalhoDissertacao2018.pdf.jpgporUniversidade Cat??lica de Bras??liaPrograma Stricto Sensu em Economia de EmpresasUCBBrasilEscola de Gest??o e Neg??ciosFundo de pens??oPrevid??nciaInvestimentosPainel din??micoPension fundsSocial securityInvestmentsDynamic panelCNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIAAvalia????o dos investimentos dos fundos de previd??ncia complementar no Brasilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações da UCBinstname:Universidade Católica de Brasília (UCB)instacron:UCBLICENSElicense.txtlicense.txttext/plain; charset=utf-81905https://200.214.135.178:8443/jspui/bitstream/tede/2410/1/license.txt75558dcf859532757239878b42f1c2c7MD51ORIGINALFilipeCarneiroBicalhoDissertacao2018.pdfFilipeCarneiroBicalhoDissertacao2018.pdfapplication/pdf1555567https://200.214.135.178:8443/jspui/bitstream/tede/2410/2/FilipeCarneiroBicalhoDissertacao2018.pdfb3591e7066fe9f61f4ed8050a278819dMD52TEXTFilipeCarneiroBicalhoDissertacao2018.pdf.txtFilipeCarneiroBicalhoDissertacao2018.pdf.txttext/plain51577https://200.214.135.178:8443/jspui/bitstream/tede/2410/3/FilipeCarneiroBicalhoDissertacao2018.pdf.txtd91d9b6a4bd011dbbaa37e55923304c4MD53THUMBNAILFilipeCarneiroBicalhoDissertacao2018.pdf.jpgFilipeCarneiroBicalhoDissertacao2018.pdf.jpgimage/jpeg5320https://200.214.135.178:8443/jspui/bitstream/tede/2410/4/FilipeCarneiroBicalhoDissertacao2018.pdf.jpgbe59acde167aad9c36fcafe69fd184bbMD54tede/24102018-06-19 14:23:13.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 Digital de Teses e Dissertaçõeshttps://bdtd.ucb.br:8443/jspui/
dc.title.por.fl_str_mv Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
title Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
spellingShingle Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
Bicalho, Filipe Carneiro
Fundo de pens??o
Previd??ncia
Investimentos
Painel din??mico
Pension funds
Social security
Investments
Dynamic panel
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA
title_short Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
title_full Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
title_fullStr Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
title_full_unstemmed Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
title_sort Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil
author Bicalho, Filipe Carneiro
author_facet Bicalho, Filipe Carneiro
author_role author
dc.contributor.advisor1.fl_str_mv Silva Filho, Osvaldo C??ndido da
dc.contributor.advisor1Lattes.fl_str_mv http://lattes.cnpq.br/3691103797905606
dc.contributor.authorLattes.fl_str_mv http://lattes.cnpq.br/3867005457610411
dc.contributor.author.fl_str_mv Bicalho, Filipe Carneiro
contributor_str_mv Silva Filho, Osvaldo C??ndido da
dc.subject.por.fl_str_mv Fundo de pens??o
Previd??ncia
Investimentos
Painel din??mico
Pension funds
Social security
Investments
Dynamic panel
topic Fundo de pens??o
Previd??ncia
Investimentos
Painel din??mico
Pension funds
Social security
Investments
Dynamic panel
CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA
dc.subject.cnpq.fl_str_mv CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA
dc.description.abstract.eng.fl_txt_mv Nowadays, in the midst of increased life expectancy, which means a higher proportion of elderly to young, the situation of Brazil???s Public Pension system has turned out to be the focus of many questionings, mostly about its sustainability. Being aware of the fragilities of the social security system and a clear necessity of a reform, investors are looking more and more to alternative ways to guarantee some income after they retire. One of the most obvious investments are the pension funds, which have been on the spot ever since Brazil has been in this scenario of uncertainties. Considering this greater visibility that this scenario has brought to pension funds, this work intends to make an evaluation of the performance of them, during the years of 2010 to 2015. Having this in mind, this paper will look into the return of the investments of pensions funds during those years mentioned, searching for explanations to have a better understanding of the causes of the performance of these funds. This analysis will be done by a dynamic panel model, which will test how economic indexes can affect the investments of these funds.
dc.description.abstract.por.fl_txt_mv Atualmente, em meio ao aumento da expectativa de vida e, consequentemente, da propor????o de idosos em rela????o ao n??mero de jovens, a situa????o da previd??ncia p??blica no Brasil vem sendo foco de crescentes questionamentos relacionados ?? sua sustentabilidade. Cientes das fragilidades latentes do sistema previdenci??rio brasileiro e, al??m disso, da necessidade de reforma no mesmo, os investidores est??o buscando, cada vez mais, fontes alternativas para garantirem uma renda na aposentadoria. Um dos investimentos mais procurados ?? o da previd??ncia complementar, que vem ganhando uma maior ades??o nesse cen??rio de incertezas. Levando em considera????o essa maior visibilidade que os fundos de previd??ncia complementar tem ganhado no cen??rio atual brasileiro, o presente trabalho busca fazer uma avalia????o do desempenho dos mesmos no per??odo que se estende de 2010 a 2015. Tendo isso em vista, o trabalho ir?? analisar o retorno dos investimentos dos fundos de pens??o brasileiros no decorrer do per??odo previamente mencionado, buscando explica????es para entender os determinantes do desempenho desses fundos. A an??lise em quest??o ser?? realizada atrav??s de um modelo de painel din??mico, em que se verificar?? a forma como os diversos indicadores econ??micos podem afetar a rentabilidade dos mesmos.
description Nowadays, in the midst of increased life expectancy, which means a higher proportion of elderly to young, the situation of Brazil???s Public Pension system has turned out to be the focus of many questionings, mostly about its sustainability. Being aware of the fragilities of the social security system and a clear necessity of a reform, investors are looking more and more to alternative ways to guarantee some income after they retire. One of the most obvious investments are the pension funds, which have been on the spot ever since Brazil has been in this scenario of uncertainties. Considering this greater visibility that this scenario has brought to pension funds, this work intends to make an evaluation of the performance of them, during the years of 2010 to 2015. Having this in mind, this paper will look into the return of the investments of pensions funds during those years mentioned, searching for explanations to have a better understanding of the causes of the performance of these funds. This analysis will be done by a dynamic panel model, which will test how economic indexes can affect the investments of these funds.
publishDate 2018
dc.date.accessioned.fl_str_mv 2018-06-18T18:14:31Z
dc.date.issued.fl_str_mv 2018-02-26
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dc.identifier.citation.fl_str_mv BICALHO, Filipe Carneiro. Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil. 2018. 32 f. Disserta????o (Programa Stricto Sensu em Economia de Empresas) - Universidade Cat??lica de Bras??lia, Bras??lia, 2018 .
dc.identifier.uri.fl_str_mv https://bdtd.ucb.br:8443/jspui/handle/tede/2410
identifier_str_mv BICALHO, Filipe Carneiro. Avalia????o dos investimentos dos fundos de previd??ncia complementar no Brasil. 2018. 32 f. Disserta????o (Programa Stricto Sensu em Economia de Empresas) - Universidade Cat??lica de Bras??lia, Bras??lia, 2018 .
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dc.publisher.program.fl_str_mv Programa Stricto Sensu em Economia de Empresas
dc.publisher.initials.fl_str_mv UCB
dc.publisher.country.fl_str_mv Brasil
dc.publisher.department.fl_str_mv Escola de Gest??o e Neg??cios
publisher.none.fl_str_mv Universidade Cat??lica de Bras??lia
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