Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014

Detalhes bibliográficos
Autor(a) principal: Hak, George Samir Abdul
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: por
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/25906
Resumo: Este trabalho compara o comportamento de 677 empresas brasileiras em anos com e sem eleição, entre 1994 e 2014. Dentre as companhias analisadas há redução média de 10% na taxa de investimento, em anos eleitorais. Esse quadro se aprofunda quando a corrida eleitoral é acirrada ou quando as empresas consideradas são politicamente sensíveis. As evidências obtidas suportam as hipóteses de que as incertezas advindas do processo eleitoral induzem ciclos corporativos de investimento e de que esses ciclos são distintos a depender do contexto.
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spelling Hak, George Samir AbdulEscolas::EESPChague, Fernando DanielSchiozer, Rafael FelipeGiovannetti, Bruno Cara2019-01-17T12:10:29Z2019-01-17T12:10:29Z2018-12-17http://hdl.handle.net/10438/25906Este trabalho compara o comportamento de 677 empresas brasileiras em anos com e sem eleição, entre 1994 e 2014. Dentre as companhias analisadas há redução média de 10% na taxa de investimento, em anos eleitorais. Esse quadro se aprofunda quando a corrida eleitoral é acirrada ou quando as empresas consideradas são politicamente sensíveis. As evidências obtidas suportam as hipóteses de que as incertezas advindas do processo eleitoral induzem ciclos corporativos de investimento e de que esses ciclos são distintos a depender do contexto.This paper compares the investment behavior from 677 Brazilian firms between 1994 and 2014, in years with and without elections. During election years, companies reduce investment expenditure by an average of 10%. This picture deepens in the presence of electoral races with unpredictable results and when considering political sensitive companies. Evidence supports the hypotheses that uncertainty brought by elections induces corporate investment cycles and that those cycles can vary depending on the context.porCorporate investmentElectionsPolitical uncertaintyInvestment cycleInvestimento corporativoEleiçõesIncerteza políticaCiclo de investimentoEconomiaInvestimentosEmpresas - FinançasEleições - Brasil - Aspectos econômicosIncerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVTEXT190114_George Abdul Hak_Incerteza Política e Investimento Corporativo_Final.pdf.txt190114_George Abdul Hak_Incerteza Política e Investimento Corporativo_Final.pdf.txtExtracted 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dc.title.por.fl_str_mv Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
title Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
spellingShingle Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
Hak, George Samir Abdul
Corporate investment
Elections
Political uncertainty
Investment cycle
Investimento corporativo
Eleições
Incerteza política
Ciclo de investimento
Economia
Investimentos
Empresas - Finanças
Eleições - Brasil - Aspectos econômicos
title_short Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
title_full Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
title_fullStr Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
title_full_unstemmed Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
title_sort Incerteza política e investimento corporativo: evidências de empresas brasileiras entre 1994 e 2014
author Hak, George Samir Abdul
author_facet Hak, George Samir Abdul
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Chague, Fernando Daniel
Schiozer, Rafael Felipe
dc.contributor.author.fl_str_mv Hak, George Samir Abdul
dc.contributor.advisor1.fl_str_mv Giovannetti, Bruno Cara
contributor_str_mv Giovannetti, Bruno Cara
dc.subject.eng.fl_str_mv Corporate investment
Elections
Political uncertainty
Investment cycle
topic Corporate investment
Elections
Political uncertainty
Investment cycle
Investimento corporativo
Eleições
Incerteza política
Ciclo de investimento
Economia
Investimentos
Empresas - Finanças
Eleições - Brasil - Aspectos econômicos
dc.subject.por.fl_str_mv Investimento corporativo
Eleições
Incerteza política
Ciclo de investimento
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Investimentos
Empresas - Finanças
Eleições - Brasil - Aspectos econômicos
description Este trabalho compara o comportamento de 677 empresas brasileiras em anos com e sem eleição, entre 1994 e 2014. Dentre as companhias analisadas há redução média de 10% na taxa de investimento, em anos eleitorais. Esse quadro se aprofunda quando a corrida eleitoral é acirrada ou quando as empresas consideradas são politicamente sensíveis. As evidências obtidas suportam as hipóteses de que as incertezas advindas do processo eleitoral induzem ciclos corporativos de investimento e de que esses ciclos são distintos a depender do contexto.
publishDate 2018
dc.date.issued.fl_str_mv 2018-12-17
dc.date.accessioned.fl_str_mv 2019-01-17T12:10:29Z
dc.date.available.fl_str_mv 2019-01-17T12:10:29Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/25906
url http://hdl.handle.net/10438/25906
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institution FGV
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