7 articles in this issue
Ricardo Pereira Câmara Leal
RBFin is the main Brazilian publication outlet of academic papers about finance. The contents of the Review are open and online; a printed version is maintained, in part, thanks to a grant from CNPq/CAPES. Using the Open Journals System to manage the edit... see more
Marcos Soares da Silva,José Angelo Divino
Although the economic theory recognizes the ambiguous relationship between market structure and stability of the bank sector, some models, such as the one of competition-fragility by Allen and Gale (2004), suggest that increasing competition leads financi... see more
Katia Rocha,Ajax Moreira
Country risk or sovereign spreads affect directly the investment of companies and sovereigns, being an important figure to domestic interest rates and to economic growth. This paper analyzes the impact of fiscal policy on the determinants of the sovereign... see more
Douglas Gomes dos Santos,Flávio Augusto Ziegelmann
In this paper, we compare semiparametric additive models with GARCH models in terms of their capability to estimate and forecast volatility during crisis periods. Our Monte Carlo studies indicate a better performance for GARCH models when their functional... see more
Juliano Ribeiro de Almeida,Guilherme Ribeiro de Almeida
In this paper, we use the information from the credit default swap market to measure the main components of the oil and gas companies spread. Using nearly 20 companies of this industry with different ratings and nearly 80 bonds, the result was that the ma... see more
Fernanda Finotti Cordeiro Perobelli,Bruno de Souza Lopes,Alexandre Di Miceli da Silveira
This work investigates the effects of Employee Stock Options Plans (ESOP) on the value of companies in the Brazilian Stock Exchange (BM&FBOVESPA). An ESOP is a mechanism of variable compensation, generally offered to executives, having the alignment of in... see more
José Carneiro da Cunha Oliveira Neto,Otávio Ribeiro de Medeiros,Thiago Bergmann de Queiroz
Based on intraday data with a frequency of 15 minutes, the present study investigates the relationship between the high corporate governance market (IGC) and the traditional market (IBrX). The hypothesis tested is that a higher level of corporate governan... see more