Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR)
Autor(a) principal: | |
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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/10438/24565 |
Resumo: | This work is a mixed study aimed at capturing the perception of a selected group of capital market agents about the factors that influence the Brazilian Depositary Receipt (BDRs) investment in the Brazilian market. This issue is relevant because, since its implementation, the BDR has been presented to the market as a possibility to elaborate new strategies for investment diversification, arbitrage, fundraising, among other reasons. Thus, the objective of this study is to present a view of the BDR in the Brazilian market and to answer the research question of which factors influence the investment in BDRs in the Brazilian capital market. To achieve this objective, a survey was carried out using the mixed method, combining data collected through a pre-defined questionnaire and qualitative data through interviews with a selected group of capital market agents being brokerage firms, assets, professional investors, investment banks, depository institutions and law firms specializing in capital markets in Brazil. The results bring: first, a historical view of the BDRs in Brazil; second, present an analysis on the factors that influence the use of the BDRs in the capital market in Brazil; Third, it contributes to market practice, revealing aspects of BDRs; fourth, presents to which market and target public this asset is currently directed based on a vision of the advantages and disadvantages of investing in BDRs. |
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Lima Filho, Adelmo Ferreira deEscolas::EAESPSheng, Hsia HuaNakamura, Wilson ToshiroTerra, Paulo Renato Soares2018-08-13T17:03:01Z2018-08-13T17:03:01Z2018-05-25http://hdl.handle.net/10438/24565This work is a mixed study aimed at capturing the perception of a selected group of capital market agents about the factors that influence the Brazilian Depositary Receipt (BDRs) investment in the Brazilian market. This issue is relevant because, since its implementation, the BDR has been presented to the market as a possibility to elaborate new strategies for investment diversification, arbitrage, fundraising, among other reasons. Thus, the objective of this study is to present a view of the BDR in the Brazilian market and to answer the research question of which factors influence the investment in BDRs in the Brazilian capital market. To achieve this objective, a survey was carried out using the mixed method, combining data collected through a pre-defined questionnaire and qualitative data through interviews with a selected group of capital market agents being brokerage firms, assets, professional investors, investment banks, depository institutions and law firms specializing in capital markets in Brazil. The results bring: first, a historical view of the BDRs in Brazil; second, present an analysis on the factors that influence the use of the BDRs in the capital market in Brazil; Third, it contributes to market practice, revealing aspects of BDRs; fourth, presents to which market and target public this asset is currently directed based on a vision of the advantages and disadvantages of investing in BDRs.Este trabalho é um estudo misto com objetivo de capturar a percepção de um grupo selecionado de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt – (BDRs) no mercado brasileiro. Tal questão é relevante porque desde seu lançamento o BDR foi apresentado ao mercado como sendo uma possibilidade de elaboração de novas estratégias de diversificação de investimento, arbitragem, capitação de recursos, dentre outros motivos. Dessa forma, o objetivo deste estudo é apresentar uma visão do BDR no mercado brasileiro e responder a pergunta pesquisa de quais fatores influenciam o investimento em BDRs no mercado de capitais brasileiro. Para atingir este objetivo foi realizada uma pesquisa do tipo survey, com o uso do método misto, combinando dados coletados através de um questionário pré-definido e dados qualitativos através de entrevistas com um grupo selecionado de agentes do mercado de capitais sendo corretoras, gestores de ativos, investidores profissionais, bancos de investimentos, instituições depositárias e escritórios de advocacias especializados em mercado de capitais no Brasil. Os resultados trazem: primeiro, uma visão histórica dos BDRs no Brasil; segundo, apresentam uma análise sobre os fatores que influenciam o uso dos BDRs no mercado de capitais no Brasil; terceiro, contribui para prática de mercado, revelando os aspectos dos BDRs; quarto, apresenta para qual mercado e público alvo esse ativo está atualmente direcionado baseado em uma visão de vantagens e desvantagens do investimento em BDRs.porBDR patrocinadoBDR não patrocinadoCertificado de companhia estrangeiraBDRBrazilian depositary receiptsSponsored BDRsUnsponsored BDRsCross listingAdministração de empresasMercado de capitais - BrasilInvestimentos - AnáliseAções (Finanças)Recibos de depósitosCertificados de açõesPercepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR)info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV 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|
dc.title.por.fl_str_mv |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
title |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
spellingShingle |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) Lima Filho, Adelmo Ferreira de BDR patrocinado BDR não patrocinado Certificado de companhia estrangeira BDR Brazilian depositary receipts Sponsored BDRs Unsponsored BDRs Cross listing Administração de empresas Mercado de capitais - Brasil Investimentos - Análise Ações (Finanças) Recibos de depósitos Certificados de ações |
title_short |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
title_full |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
title_fullStr |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
title_full_unstemmed |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
title_sort |
Percepção de agentes do mercado de capitais sobre os fatores que influenciam o investimento em Brazilian Depositary Receipt (BDR) |
author |
Lima Filho, Adelmo Ferreira de |
author_facet |
Lima Filho, Adelmo Ferreira de |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EAESP |
dc.contributor.member.none.fl_str_mv |
Sheng, Hsia Hua Nakamura, Wilson Toshiro |
dc.contributor.author.fl_str_mv |
Lima Filho, Adelmo Ferreira de |
dc.contributor.advisor1.fl_str_mv |
Terra, Paulo Renato Soares |
contributor_str_mv |
Terra, Paulo Renato Soares |
dc.subject.por.fl_str_mv |
BDR patrocinado BDR não patrocinado Certificado de companhia estrangeira |
topic |
BDR patrocinado BDR não patrocinado Certificado de companhia estrangeira BDR Brazilian depositary receipts Sponsored BDRs Unsponsored BDRs Cross listing Administração de empresas Mercado de capitais - Brasil Investimentos - Análise Ações (Finanças) Recibos de depósitos Certificados de ações |
dc.subject.eng.fl_str_mv |
BDR Brazilian depositary receipts Sponsored BDRs Unsponsored BDRs Cross listing |
dc.subject.area.por.fl_str_mv |
Administração de empresas |
dc.subject.bibliodata.por.fl_str_mv |
Mercado de capitais - Brasil Investimentos - Análise Ações (Finanças) Recibos de depósitos Certificados de ações |
description |
This work is a mixed study aimed at capturing the perception of a selected group of capital market agents about the factors that influence the Brazilian Depositary Receipt (BDRs) investment in the Brazilian market. This issue is relevant because, since its implementation, the BDR has been presented to the market as a possibility to elaborate new strategies for investment diversification, arbitrage, fundraising, among other reasons. Thus, the objective of this study is to present a view of the BDR in the Brazilian market and to answer the research question of which factors influence the investment in BDRs in the Brazilian capital market. To achieve this objective, a survey was carried out using the mixed method, combining data collected through a pre-defined questionnaire and qualitative data through interviews with a selected group of capital market agents being brokerage firms, assets, professional investors, investment banks, depository institutions and law firms specializing in capital markets in Brazil. The results bring: first, a historical view of the BDRs in Brazil; second, present an analysis on the factors that influence the use of the BDRs in the capital market in Brazil; Third, it contributes to market practice, revealing aspects of BDRs; fourth, presents to which market and target public this asset is currently directed based on a vision of the advantages and disadvantages of investing in BDRs. |
publishDate |
2018 |
dc.date.accessioned.fl_str_mv |
2018-08-13T17:03:01Z |
dc.date.available.fl_str_mv |
2018-08-13T17:03:01Z |
dc.date.issued.fl_str_mv |
2018-05-25 |
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/10438/24565 |
url |
http://hdl.handle.net/10438/24565 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
instname_str |
Fundação Getulio Vargas (FGV) |
instacron_str |
FGV |
institution |
FGV |
reponame_str |
Repositório Institucional do FGV (FGV Repositório Digital) |
collection |
Repositório Institucional do FGV (FGV Repositório Digital) |
bitstream.url.fl_str_mv |
https://repositorio.fgv.br/bitstreams/02b020cd-8dec-40f4-9c83-21090dfdc831/download https://repositorio.fgv.br/bitstreams/5dfeebf2-d147-48bf-bde4-1c4cd60a052a/download https://repositorio.fgv.br/bitstreams/279b55e6-e51f-4c1c-b0a6-d48fb86ec55b/download https://repositorio.fgv.br/bitstreams/e9588298-51e6-47e6-8854-edfa7dc12e35/download |
bitstream.checksum.fl_str_mv |
2a20b8762ce21f085f25e073039e7cbb 9ebd65e5d2b4e7fadfa1c409a555f83d dfb340242cced38a6cca06c627998fa1 4d6f8cd1c9b27d804e1c3c8b57bb24bd |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 |
repository.name.fl_str_mv |
Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV) |
repository.mail.fl_str_mv |
|
_version_ |
1810023748977295360 |