Browsing FGV EESP - Textos para Discussão / Working Paper Series by Subject "Mercado de capitais"

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Capital structure determinants of financially constrained and unconstrained firms

Sanvicente, Antonio Zoratto; Bortoluzzo, Adriana; Bortoluzzo, Mauricio Mesquita
2017

This 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 ...
Individuals neglect the informational role of prices: evidence from the stock market

Chague, Fernando Daniel; Bueno, Rodrigo de Losso da Silveira; Giovannetti, Bruno Cara
2018-02

We find that a stock price fall in itself induces individual investors to buy the stock. That is, individuals neglect the negative information that may be attached to a stock price fall. Our identification strategy uses ...