A utilização de derivativos agrega valor à firma? um estudo do caso brasileiro

Jose Rossi

RAE - Revista de Administração de Empresas, 2008, vol. 48, issue 4

Abstract: This article examines the use of derivatives and its impact on firm value for a sample of non-financial Brazilian companies listed in the São Paulo Stock Exchange from 1996 to 2006. Using parametric and non-parametric methods, the results confirm that the use of derivatives adds value to the firm, indicating that, differently than asserted by Modigliani and Miller (1958), corporate financing policies do exert an impact on firm-value.

Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
http://bibliotecadigital.fgv.br/ojs/index.php/rae/article/view/36755 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fgv:eaerae:v:48:y:2008:i:4:a:36755

Access Statistics for this article

RAE - Revista de Administração de Empresas is currently edited by Eduardo Diniz

More articles in RAE - Revista de Administração de Empresas from FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil)
Bibliographic data for series maintained by Núcleo de Computação da FGV EPGE ().