The impact of brazilian crisis on export and non-export stocks

• Autor(a) principal: Pereira, Frederico Augusto Fogolin
• Data de Publicação: 2017
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/15422
• topic: Mercado de ações; Bolsa de valores; Taxa de câmbio; Crise financeira; Exportação; PIB Produto Interno Bruto; Rentabilidade; Brasil - 2014-2016; Crisis; Brazil; IBOVESPA; GDP; PIB

Considering that Brazil is currently one of the major emerging economies in the world through this work is possible to compare the returns of before and after the 2015 crisis peak (GDP = - 3.8%) with the evolution of the principal stock exchange in Brazil (IBOVESPA). As known, the exchange rate is the major source of macroeconomic uncertainty is important to understand if the export companies have a higher profitability than non-export companies. As basis for this work, I used the 407 companies listed in IBOVESPA, being separated between: Exporters and Non-Exporters. The analysis continued using Log Return and in the end, I was able to prove that the differences in the daily returns of the companies that export are statistically higher than those that do not export, making it clear that even in a critical period like 2014 to 2016 it is possible profitability vis-à-vis non-exporters.