THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE

Detalhes bibliográficos
Autor(a) principal: Hermann, Jennifer
Data de Publicação: 2012
Outros Autores: Martins, Norberto Montani
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/18975
Resumo: The current article aims at analyzing several risk indicators of the Brazilian Stock Market (BSM) in the period 2004-11, which is marked by a great spurt of BSM after many years of retraction and stagnation. Our analysis points out enhancements on liquidity and, in a lesser extent, volatility indicators, and the deterioration of indicators regarding concentration. We emphasize that the main sources of risks are: high concentration of stock capitalization in commodities-related sectors and excessive concentration of demand in foreign investors. We conclude that these risks contributed significantly to BSM feel contagion effects of the 2008-9’ financial crisis and, therefore, to the slowdown in BSM’s business since 2010.
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spelling THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGEMERCADO DE AÇÕES NO BRASIL: O PERFIL DE RISCO DA EXPANSÃO DE 2004-11Mercado de AçõesRiscoBrasilG10G19Stock marketsRiskContagionBrazilG10G19The current article aims at analyzing several risk indicators of the Brazilian Stock Market (BSM) in the period 2004-11, which is marked by a great spurt of BSM after many years of retraction and stagnation. Our analysis points out enhancements on liquidity and, in a lesser extent, volatility indicators, and the deterioration of indicators regarding concentration. We emphasize that the main sources of risks are: high concentration of stock capitalization in commodities-related sectors and excessive concentration of demand in foreign investors. We conclude that these risks contributed significantly to BSM feel contagion effects of the 2008-9’ financial crisis and, therefore, to the slowdown in BSM’s business since 2010.O artigo analisa o perfil de risco do mercado de ações brasileiro (MAB) no período 2004-11, de forte expansão do mercado, após longo período de retração. A análise constata uma evolução favorável dos indicadores de liquidez e, em menor escala, de volatilidade, e deterioração dos indicadores de concentração. Nestes, destacam-se, como principais fontes de risco: a elevada concentração da oferta em setores produtores de commodities e a elevada concentração da demanda em investidores estrangeiros. Conclui-se, assim, que o perfil de risco da expansão recente contribuiu de forma importante para o contágio do MAB pela crise externa e, portanto, para a desaceleração dos negócios a partir 2010.UFRGS2012-12-07info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/1897510.22456/2176-5456.18975Análise Econômica; Vol. 30 No. 58 (2012): setembro de 2012Análise Econômica; v. 30 n. 58 (2012): setembro de 20122176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/18975/23413Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessHermann, JenniferMartins, Norberto Montani2013-09-13T18:57:27Zoai:seer.ufrgs.br:article/18975Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2013-09-13T18:57:27Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
MERCADO DE AÇÕES NO BRASIL: O PERFIL DE RISCO DA EXPANSÃO DE 2004-11
title THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
spellingShingle THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
Hermann, Jennifer
Mercado de Ações
Risco
Brasil
G10
G19
Stock markets
Risk
Contagion
Brazil
G10
G19
title_short THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
title_full THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
title_fullStr THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
title_full_unstemmed THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
title_sort THE BRAZILIAN STOCK MARKET: RISK ANALYSIS OF THE 2004-11'S UPSURGE
author Hermann, Jennifer
author_facet Hermann, Jennifer
Martins, Norberto Montani
author_role author
author2 Martins, Norberto Montani
author2_role author
dc.contributor.author.fl_str_mv Hermann, Jennifer
Martins, Norberto Montani
dc.subject.por.fl_str_mv Mercado de Ações
Risco
Brasil
G10
G19
Stock markets
Risk
Contagion
Brazil
G10
G19
topic Mercado de Ações
Risco
Brasil
G10
G19
Stock markets
Risk
Contagion
Brazil
G10
G19
description The current article aims at analyzing several risk indicators of the Brazilian Stock Market (BSM) in the period 2004-11, which is marked by a great spurt of BSM after many years of retraction and stagnation. Our analysis points out enhancements on liquidity and, in a lesser extent, volatility indicators, and the deterioration of indicators regarding concentration. We emphasize that the main sources of risks are: high concentration of stock capitalization in commodities-related sectors and excessive concentration of demand in foreign investors. We conclude that these risks contributed significantly to BSM feel contagion effects of the 2008-9’ financial crisis and, therefore, to the slowdown in BSM’s business since 2010.
publishDate 2012
dc.date.none.fl_str_mv 2012-12-07
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/18975
10.22456/2176-5456.18975
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/18975
identifier_str_mv 10.22456/2176-5456.18975
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/18975/23413
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 30 No. 58 (2012): setembro de 2012
Análise Econômica; v. 30 n. 58 (2012): setembro de 2012
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
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