Derivativos para hedge por empresas brasileiras do agronegócio

• Autor(a) principal: Rigo, Marco Antonio
• Data de Publicação: 2024
• Tipo de documento: Trabalho de conclusão de curso
• Idioma: por
• Título da fonte: Biblioteca Digital de Teses e Dissertações da PUC_SP
• Texto Completo: https://repositorio.pucsp.br/jspui/handle/handle/42100
• topic: CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA; Derivativos; Agronegócio; Opções; Futuros; Swaps; Gerência de riscos; Derivatives; Agribusiness | Options; Futures; Swaps; Risk management

Derivatives are financial instruments created with the aim of making negotiations on future changes in the prices of certain assets. The use of derivatives can have several reasons, such as: protection, speculation and arbitration. Protection, or hedge, is carried out by contracting the instrument to protect itself from future variations in asset prices. Speculation, on the other hand, is carried out by contracting the instrument with the aim of profiting from a future variation in asset prices. Arbitration aims to trade similar assets in two different markets (spot market and futures market), in order to obtain a profit from the price imbalance and, consequently, balance them. Some of the most used derivatives for hedging are: options, futures and swaps. These contracts can be traded on the stock exchange (in a standardized manner) or in an over-the-counter environment, which consists of bilateral negotiation. The use of derivatives for hedging purposes by Brazilian companies in the agribusiness sector has increased in recent years. According to data provided by companies with the highest revenue in this sector, the volume of agricultural derivatives varied positively from 2019 to 2022, as did net revenue. It is possible to observe that the volume of agricultural derivative contracts has increased steadily since the beginning of the 21st century. This growth is related to the greater level of investment in risk management and financial planning promoted by companies in the world