CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET

Detalhes bibliográficos
Autor(a) principal: Mendes, Eduardo Alexandre
Data de Publicação: 2009
Outros Autores: Cruz Basso, Leonardo Fernando, Kayo, Eduardo Kazuo
Tipo de documento: Artigo
Idioma: por
Título da fonte: RAM. Revista de Administração Mackenzie
Texto Completo: https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409
Resumo: This study tests the market timing theory (EMTT) in the Brazilian Stock Market. The study is an adaptation from the Baker and Wurgler’s article (2002) that successfully tested this theory in the American Stock Market. The theory has not been proven in the Brazilian Market. The leverage decreased in the first year after the initial public offerings (IPO), but it grew once again without presenting the persistency required to corroborate the theory.
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spelling CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKETEstrutura de capital e janelas de oportunidade: testes no mercado brasileiroInitial public offeringsCapital structureEquity market timingLeverageValue Creation.Oferta inicial de açõesEstrutura de CapitalJanelas de OportunidadeAlavancagemCriação de ValorThis study tests the market timing theory (EMTT) in the Brazilian Stock Market. The study is an adaptation from the Baker and Wurgler’s article (2002) that successfully tested this theory in the American Stock Market. The theory has not been proven in the Brazilian Market. The leverage decreased in the first year after the initial public offerings (IPO), but it grew once again without presenting the persistency required to corroborate the theory.Este estudo testa a teoria das janelas de oportunidade (EMTT) para o mercado acionário brasileiro. O artigo é uma adaptação do artigo de Baker e Wurgler (2002) que testou com sucesso essa teoria para o mercado acionário americano. A teoria não foi comprovada no mercado brasileiro. A alavancagem diminuiu no primeiro ano após as ofertas públicas iniciais (IPO), mas cresceu novamente sem apresentar a persistência necessária para corroborar a teoria.     Editora Mackenzie2009-10-23info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionRegressão Múltipla (Econometria)application/pdfapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordapplication/mswordhttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409Revista de Administração Mackenzie; Vol. 10 No. 6 (2009): Thematic Special Editon - Golden Jubilee of Modigliani & MillerRevista de Administração Mackenzie; Vol. 10 Núm. 6 (2009): Edición Especial Temática – Jubileo de Oro de Modigliani & MillerRevista de Administração Mackenzie (Mackenzie Management Review); v. 10 n. 6 (2009): Edição Especial Temática - Jubileu de Ouro de Modigliani & Miller1678-69711518-6776reponame:RAM. Revista de Administração Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIEporhttps://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/1326https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7864https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7865https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7866https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7867https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7868https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7869Copyright (c) 2015 Revista de Administração Mackenzieinfo:eu-repo/semantics/openAccessMendes, Eduardo AlexandreCruz Basso, Leonardo FernandoKayo, Eduardo Kazuo2011-01-18T14:34:32Zoai:ojs.editorarevistas.mackenzie.br:article/1409Revistahttps://editorarevistas.mackenzie.br/index.php/RAM/PUBhttps://editorarevistas.mackenzie.br/index.php/RAM/oairevista.adm@mackenzie.br1678-69711518-6776opendoar:2011-01-18T14:34:32RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE)false
dc.title.none.fl_str_mv CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
Estrutura de capital e janelas de oportunidade: testes no mercado brasileiro
title CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
spellingShingle CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
Mendes, Eduardo Alexandre
Initial public offerings
Capital structure
Equity market timing
Leverage
Value Creation.
Oferta inicial de ações
Estrutura de Capital
Janelas de Oportunidade
Alavancagem
Criação de Valor
title_short CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
title_full CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
title_fullStr CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
title_full_unstemmed CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
title_sort CAPITAL STRUCTURE AND WINDOWS OF OPPORTUNITIES: TESTS IN THE BRAZILIAN MARKET
author Mendes, Eduardo Alexandre
author_facet Mendes, Eduardo Alexandre
Cruz Basso, Leonardo Fernando
Kayo, Eduardo Kazuo
author_role author
author2 Cruz Basso, Leonardo Fernando
Kayo, Eduardo Kazuo
author2_role author
author
dc.contributor.author.fl_str_mv Mendes, Eduardo Alexandre
Cruz Basso, Leonardo Fernando
Kayo, Eduardo Kazuo
dc.subject.por.fl_str_mv Initial public offerings
Capital structure
Equity market timing
Leverage
Value Creation.
Oferta inicial de ações
Estrutura de Capital
Janelas de Oportunidade
Alavancagem
Criação de Valor
topic Initial public offerings
Capital structure
Equity market timing
Leverage
Value Creation.
Oferta inicial de ações
Estrutura de Capital
Janelas de Oportunidade
Alavancagem
Criação de Valor
description This study tests the market timing theory (EMTT) in the Brazilian Stock Market. The study is an adaptation from the Baker and Wurgler’s article (2002) that successfully tested this theory in the American Stock Market. The theory has not been proven in the Brazilian Market. The leverage decreased in the first year after the initial public offerings (IPO), but it grew once again without presenting the persistency required to corroborate the theory.
publishDate 2009
dc.date.none.fl_str_mv 2009-10-23
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Regressão Múltipla (Econometria)
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409
url https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/1326
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7864
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7865
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7866
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7867
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7868
https://editorarevistas.mackenzie.br/index.php/RAM/article/view/1409/7869
dc.rights.driver.fl_str_mv Copyright (c) 2015 Revista de Administração Mackenzie
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2015 Revista de Administração Mackenzie
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/msword
application/msword
application/msword
application/msword
application/msword
application/msword
dc.publisher.none.fl_str_mv Editora Mackenzie
publisher.none.fl_str_mv Editora Mackenzie
dc.source.none.fl_str_mv Revista de Administração Mackenzie; Vol. 10 No. 6 (2009): Thematic Special Editon - Golden Jubilee of Modigliani & Miller
Revista de Administração Mackenzie; Vol. 10 Núm. 6 (2009): Edición Especial Temática – Jubileo de Oro de Modigliani & Miller
Revista de Administração Mackenzie (Mackenzie Management Review); v. 10 n. 6 (2009): Edição Especial Temática - Jubileu de Ouro de Modigliani & Miller
1678-6971
1518-6776
reponame:RAM. Revista de Administração Mackenzie
instname:Universidade Presbiteriana Mackenzie (MACKENZIE)
instacron:MACKENZIE
instname_str Universidade Presbiteriana Mackenzie (MACKENZIE)
instacron_str MACKENZIE
institution MACKENZIE
reponame_str RAM. Revista de Administração Mackenzie
collection RAM. Revista de Administração Mackenzie
repository.name.fl_str_mv RAM. Revista de Administração Mackenzie - Universidade Presbiteriana Mackenzie (MACKENZIE)
repository.mail.fl_str_mv revista.adm@mackenzie.br
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