Browsing FGV EESP - Textos para Discussão / Working Paper Series by Author "Sanvicente, Antonio Zoratto"
Now showing items 1-6 of 6
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Capital structure determinants of financially constrained and unconstrained firms
2017This paper discusses the determinants of capital structure with a focus on both publicly-owned and privately-owned firms. We use annual financial statement data for over 1,000 publicly-owned and privately-owned Brazilian ... -
Cost of equity estimation for the Brazilian market: a test of the Goldman Sachs model
2017As an approach to determining the degree of integration of the Brazilian economy, this paper seeks to test the explanatory power of the Goldman Sachs Model for the expected returns by a foreign investor in the Brazilian ... -
Criação de valor para o acionista: o caso da Rede Globo, uma companhia fechada
2019-01Desenvolve-se um exercício de mensuração de criação de valor para o acionista, mediante a comparação entre retorno do investimento em ativos e custo médio ponderado de capital, para uma companhia fechada brasileira, a Globo ... -
Determinants of the implied equity risk premium in Brazil
2016This paper proposes and tests market determinants of the equity risk premium (ERP) in Brazil. We use implied ERP, based on the Elton (1999) critique. The ultimate goal of this exercise is to demonstrate that the calculation ... -
How well does management deliver? Creation of shareholder wealth by large public and private Brazilian firms in 2018
2019-12This paper examines the performance of 157 of the 400 largest nonfinancial firms in Brazil in 2018. The metric used is the creation of value for their shareholders, represented by the difference between return on assets ... -
Teoria residual da política de dividendos: um experimento natural
2017Em 15 de dezembro de 1976, nova lei das sociedades por ações (S.As.) introduziu, entre outras inovações, a exigência de distribuição mínima obrigatória de resultados anuais ('dividendo mínimo obrigatório'). O presente ...
