O financiamento do BNDES gera valor para o acionista de empresas financiadas?

Detalhes bibliográficos
Autor(a) principal: Bellegard, Fabio Glock
Data de Publicação: 2016
Tipo de documento: Dissertação
Idioma: por
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/16792
Resumo: Through simultaneous equations and based on the Value Relevance Literature, this study discusses the relevance of BNDES loans to explain the stock prices of companies listed in BOVESPA. The simultaneous equations model allows exogenous variations on the credit offer by BNDES. Such variations permit the identification of the model that defines stock prices as function of BNDES loans as well as control variables. Results found do not confirm that the presence of BNDEs loans is significant to explain stock prices.
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spelling Bellegard, Fabio GlockEscolas::EESPBortoluzzo, AdrianaFrezatti, FábioSanvicente, Antonio Zoratto2016-08-23T12:23:55Z2016-08-23T12:23:55Z2016-07-25BELLEGARD, Fabio Glock. O financiamento do BNDES gera valor para o acionista de empresas financiadas?. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.http://hdl.handle.net/10438/16792Through simultaneous equations and based on the Value Relevance Literature, this study discusses the relevance of BNDES loans to explain the stock prices of companies listed in BOVESPA. The simultaneous equations model allows exogenous variations on the credit offer by BNDES. Such variations permit the identification of the model that defines stock prices as function of BNDES loans as well as control variables. Results found do not confirm that the presence of BNDEs loans is significant to explain stock prices.Por meio de equações simultâneas e respaldado pela literatura de Value Relevance, este estudo discute a relevância do financiamento BNDES para explicar preço da ação de empresas listadas na BOVESPA. O modelo de equações simultâneas permite variações exógenas sobre a oferta de crédito do BNDES. Tais variações viabilizam a identificação do modelo que define o preço da ação em função do financiamento BNDES e demais variáveis controle. Os resultados encontrados não permitem afirmar que a presença de financiamento BNDES é significante para explicar o preço da ação.porStructural equation modelValue relevanceBNDESEconomiaBanco Nacional de Desenvolvimento Econômico e Social (Brasil)Ações (Finanças)Empresas - Brasil - FinanciamentoO financiamento do BNDES gera valor para o acionista de empresas financiadas?info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXTProjeto - Dissertação F Bellegard_FINAL.pdf.txtProjeto - Dissertação F Bellegard_FINAL.pdf.txtExtracted texttext/plain52533https://repositorio.fgv.br/bitstreams/2105fb53-a903-4eec-8817-868a6643ffdf/download5200a4d1559108234e1a335d6b8f3a42MD58LICENSElicense.txtlicense.txttext/plain; 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dc.title.por.fl_str_mv O financiamento do BNDES gera valor para o acionista de empresas financiadas?
title O financiamento do BNDES gera valor para o acionista de empresas financiadas?
spellingShingle O financiamento do BNDES gera valor para o acionista de empresas financiadas?
Bellegard, Fabio Glock
Structural equation model
Value relevance
BNDES
Economia
Banco Nacional de Desenvolvimento Econômico e Social (Brasil)
Ações (Finanças)
Empresas - Brasil - Financiamento
title_short O financiamento do BNDES gera valor para o acionista de empresas financiadas?
title_full O financiamento do BNDES gera valor para o acionista de empresas financiadas?
title_fullStr O financiamento do BNDES gera valor para o acionista de empresas financiadas?
title_full_unstemmed O financiamento do BNDES gera valor para o acionista de empresas financiadas?
title_sort O financiamento do BNDES gera valor para o acionista de empresas financiadas?
author Bellegard, Fabio Glock
author_facet Bellegard, Fabio Glock
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Bortoluzzo, Adriana
Frezatti, Fábio
dc.contributor.author.fl_str_mv Bellegard, Fabio Glock
dc.contributor.advisor1.fl_str_mv Sanvicente, Antonio Zoratto
contributor_str_mv Sanvicente, Antonio Zoratto
dc.subject.eng.fl_str_mv Structural equation model
Value relevance
topic Structural equation model
Value relevance
BNDES
Economia
Banco Nacional de Desenvolvimento Econômico e Social (Brasil)
Ações (Finanças)
Empresas - Brasil - Financiamento
dc.subject.por.fl_str_mv BNDES
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Banco Nacional de Desenvolvimento Econômico e Social (Brasil)
Ações (Finanças)
Empresas - Brasil - Financiamento
description Through simultaneous equations and based on the Value Relevance Literature, this study discusses the relevance of BNDES loans to explain the stock prices of companies listed in BOVESPA. The simultaneous equations model allows exogenous variations on the credit offer by BNDES. Such variations permit the identification of the model that defines stock prices as function of BNDES loans as well as control variables. Results found do not confirm that the presence of BNDEs loans is significant to explain stock prices.
publishDate 2016
dc.date.accessioned.fl_str_mv 2016-08-23T12:23:55Z
dc.date.available.fl_str_mv 2016-08-23T12:23:55Z
dc.date.issued.fl_str_mv 2016-07-25
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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dc.identifier.citation.fl_str_mv BELLEGARD, Fabio Glock. O financiamento do BNDES gera valor para o acionista de empresas financiadas?. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/16792
identifier_str_mv BELLEGARD, Fabio Glock. O financiamento do BNDES gera valor para o acionista de empresas financiadas?. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.
url http://hdl.handle.net/10438/16792
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