Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Research, Society and Development |
Texto Completo: | https://rsdjournal.org/index.php/rsd/article/view/16294 |
Resumo: | This paper aims to analyze the influence (negative or positive) of macro and microeconomic variables on Petrobras stock price for 12 years, between 2009 and 2020. The methods employed were: i) Pearson's correlation and; ii) Ordinary Least Squares (OLS). The literature review was helpful to understand the qualitative aspects. The main results obtained from both methodologies pointed out that Petrobras' Stock prices were affected by Brent oil price, Ibovespa index, and Production level. These variables were statistically significant in the OLS to explain the fluctuations in the PETR4 share price. Finally, it is worth mentioning that political factors, governance failures (and acts of corruption), Fuel Price Policy, the Political Scenario, and the company's Financial Indicators can also considerably influence the price of PETR4. |
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Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020Factores que influyeron en el Precio de las Acciones de Petrobras (PETR4) entre 2009 y 2020Fatores que influenciaram os Preços da Ação da Petrobras (PETR4) entre 2009 e 2020PetrobrasPETR4CorrelaciónMCO.PetrobrasPETR4CorrelationOLS.PetrobrasPETR4CorrelaçãoMQO.This paper aims to analyze the influence (negative or positive) of macro and microeconomic variables on Petrobras stock price for 12 years, between 2009 and 2020. The methods employed were: i) Pearson's correlation and; ii) Ordinary Least Squares (OLS). The literature review was helpful to understand the qualitative aspects. The main results obtained from both methodologies pointed out that Petrobras' Stock prices were affected by Brent oil price, Ibovespa index, and Production level. These variables were statistically significant in the OLS to explain the fluctuations in the PETR4 share price. Finally, it is worth mentioning that political factors, governance failures (and acts of corruption), Fuel Price Policy, the Political Scenario, and the company's Financial Indicators can also considerably influence the price of PETR4.El objetivo de este estudio fue analizar la influencia (negativa o positiva) de variables macro y microeconómicas en el precio de las acciones de Petrobras, para el período de 12 años, entre el año 2009 y el año 2020. Los métodos empleados fueron: i) Correlación de Pearson y; ii) Mínimos cuadrados ordinarios (MCO). Los factores cualitativos se analizaron a partir de una revisión de la literatura. Los principales resultados, obtenidos de las metodologías empleadas, señalaron que el precio de la acción de Petrobras és afectado, principalmente, por factores como: precio del petróleo Brent, índice Ibovespa y el Nivel de producción. Estas variables resultaron estadísticamente significativas, en el MCO, para explicar las fluctuaciones en el precio de la acción PETR4. Finalmente, cabe señalar, además, que los indicadores financieros de la empresa, así como los escenarios e interferencias políticas, se manifiestan, por ejemplo, en la política de precios de los combustibles o en actos de corrupción (que se presentan como fallas de gobernabilidad) en la empresa, pueden influir considerablemente en el comportamiento del precio de PETR4.Este trabalho objetivou analisar a influência (negativa ou positiva) de variáveis macro e microeconômicas no preço das ações da Petrobras, pelo período de 12 anos, entre o ano de 2009 e o ano de 2020. Os métodos empregados foram: i) correlação de Pearson e; ii) Mínimos Quadrados Ordinários (MQO). Os fatores de natureza qualitativa foram analisados com base numa revisão de literatura. Os principais resultados, obtidos a partir das metodologias empregadas, apontaram que a ação da Petrobras tem o seu preço afetado, principalmente, por fatores como: preço do petróleo Brent, índice Ibovespa e nível de Produção. Estas variáveis foram estatisticamente significantes, no MQO, para explicar as oscilações do preço da ação PETR4. Por fim, vale ressaltar, ademais, que os Indicadores financeiros da empresa, bem como os cenários e as interferências políticas, manifestas, por exemplo, na política de preço dos combustíveis ou em atos de corrupção (que se apresentam como falhas de governança) no âmbito da empresa, podem influenciar, consideravelmente, o comportamento do preço da PETR4.Research, Society and Development2021-06-16info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://rsdjournal.org/index.php/rsd/article/view/1629410.33448/rsd-v10i7.16294Research, Society and Development; Vol. 10 No. 7; e13410716294Research, Society and Development; Vol. 10 Núm. 7; e13410716294Research, Society and Development; v. 10 n. 7; e134107162942525-3409reponame:Research, Society and Developmentinstname:Universidade Federal de Itajubá (UNIFEI)instacron:UNIFEIporhttps://rsdjournal.org/index.php/rsd/article/view/16294/14611Copyright (c) 2021 Alex Oliveira Lopes; Thales de Oliveira Costa Viegas; Carlos Gilbert Conte Filho; Vinicius Spirandelli Carvalhohttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessLopes, Alex Oliveira Viegas, Thales de Oliveira CostaConte Filho, Carlos GilbertCarvalho, Vinicius Spirandelli2021-07-18T21:07:03Zoai:ojs.pkp.sfu.ca:article/16294Revistahttps://rsdjournal.org/index.php/rsd/indexPUBhttps://rsdjournal.org/index.php/rsd/oairsd.articles@gmail.com2525-34092525-3409opendoar:2024-01-17T09:36:53.080364Research, Society and Development - Universidade Federal de Itajubá (UNIFEI)false |
dc.title.none.fl_str_mv |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 Factores que influyeron en el Precio de las Acciones de Petrobras (PETR4) entre 2009 y 2020 Fatores que influenciaram os Preços da Ação da Petrobras (PETR4) entre 2009 e 2020 |
title |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
spellingShingle |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 Lopes, Alex Oliveira Petrobras PETR4 Correlación MCO. Petrobras PETR4 Correlation OLS. Petrobras PETR4 Correlação MQO. |
title_short |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
title_full |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
title_fullStr |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
title_full_unstemmed |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
title_sort |
Factors influencing Petrobras Stock Prices (PETR4) between 2009 and 2020 |
author |
Lopes, Alex Oliveira |
author_facet |
Lopes, Alex Oliveira Viegas, Thales de Oliveira Costa Conte Filho, Carlos Gilbert Carvalho, Vinicius Spirandelli |
author_role |
author |
author2 |
Viegas, Thales de Oliveira Costa Conte Filho, Carlos Gilbert Carvalho, Vinicius Spirandelli |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Lopes, Alex Oliveira Viegas, Thales de Oliveira Costa Conte Filho, Carlos Gilbert Carvalho, Vinicius Spirandelli |
dc.subject.por.fl_str_mv |
Petrobras PETR4 Correlación MCO. Petrobras PETR4 Correlation OLS. Petrobras PETR4 Correlação MQO. |
topic |
Petrobras PETR4 Correlación MCO. Petrobras PETR4 Correlation OLS. Petrobras PETR4 Correlação MQO. |
description |
This paper aims to analyze the influence (negative or positive) of macro and microeconomic variables on Petrobras stock price for 12 years, between 2009 and 2020. The methods employed were: i) Pearson's correlation and; ii) Ordinary Least Squares (OLS). The literature review was helpful to understand the qualitative aspects. The main results obtained from both methodologies pointed out that Petrobras' Stock prices were affected by Brent oil price, Ibovespa index, and Production level. These variables were statistically significant in the OLS to explain the fluctuations in the PETR4 share price. Finally, it is worth mentioning that political factors, governance failures (and acts of corruption), Fuel Price Policy, the Political Scenario, and the company's Financial Indicators can also considerably influence the price of PETR4. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-06-16 |
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://rsdjournal.org/index.php/rsd/article/view/16294 10.33448/rsd-v10i7.16294 |
url |
https://rsdjournal.org/index.php/rsd/article/view/16294 |
identifier_str_mv |
10.33448/rsd-v10i7.16294 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://rsdjournal.org/index.php/rsd/article/view/16294/14611 |
dc.rights.driver.fl_str_mv |
https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Research, Society and Development |
publisher.none.fl_str_mv |
Research, Society and Development |
dc.source.none.fl_str_mv |
Research, Society and Development; Vol. 10 No. 7; e13410716294 Research, Society and Development; Vol. 10 Núm. 7; e13410716294 Research, Society and Development; v. 10 n. 7; e13410716294 2525-3409 reponame:Research, Society and Development instname:Universidade Federal de Itajubá (UNIFEI) instacron:UNIFEI |
instname_str |
Universidade Federal de Itajubá (UNIFEI) |
instacron_str |
UNIFEI |
institution |
UNIFEI |
reponame_str |
Research, Society and Development |
collection |
Research, Society and Development |
repository.name.fl_str_mv |
Research, Society and Development - Universidade Federal de Itajubá (UNIFEI) |
repository.mail.fl_str_mv |
rsd.articles@gmail.com |
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1797052750232551424 |