This study aimed to identify the relationship between the Structural Liquidity Index (SLI) and macroeconomic variables, bank characteristics, and the validity period of the Basel III Agreement. Although the academic discussion on bank liquidity essentially addresses short-term issues, monitoring long-term liquidity helps assess any excessive dependency of banks on unstable resources, thus contributing to mitigating the risks of systemic liquidity crises such as that of 2008. As it provides evidence of the relationship between the SLI and the selected explanatory variables, the study can be included in the context of the discussions involving the Basel III Agreement, which establishes the implementation of the long-term liquidity index regulatory requirement as of 2018. The model was formulated based on fourteen research hypotheses, tested using panel data regressions estimated via pooled ordinary least squares, least squares with fixed effects, and two-stage least squares with fixed effects. The dependent variable was constructed based on the accounting data of 184 conglomerates and individual financial institutions operating in the country between June 2002 and December 2014. The SLI presented a positive relationship with changes in the exchange rate, international reserves, and reserve requirements, as well as with the profitability, size, and main specialization of the institution. On the other hand, we found a negative relationship between the SLI and the basic interest rate, country risk, balance of trade, validity period of the Basel III Agreement, type of equity control (private vs. government), and the bank being publicly listed on the São Paulo Stock, Commodities, and Futures Exchange (BM&FBovespa) or privately held. The validation of the relationships between these explanatory variables and the SLI provides a broader understanding of the risks to which financial institutions are exposed, contributing to the preventive analysis of bank liquidity risk - an antecedent indicator of financial crises, diminished confidence, and economic instability.

Este artigo tem como objetivo principal verificar a influência da alíquota do Imposto sobre Produtos Industrializados sobre o crescimento do setor de construção civil entre os anos de 2008 a 2013, por meio da análise de estatística descritiva e regressão múltipla. Os resultados revelaram que a desoneração do IPI afetou o crescimento do resultado bruto das empresas de construção civil, assim como a maior disponibilidade de financiamento imobiliário no mercado. A contribuição desse estudo é a demonstração da efetividade da política tributária por meio da renúncia fiscal adotada com intuito de minimizar os efeitos da crise econômica.

The recognition of revenues has been a topic widely discussed after the approval of IFRS 15 -Revenues from Contracts with Customer. The rule that enters into force, as from January 1, 2018, provides that, in order to recognize revenue, it is initially necessary to recognize contractual assets and liabilities, and as contractual obligations are met, they are derecognised These liabilities. The revenue recognition model, proposed by IFRS 15, will cause significant changes in the revenue stream of real estate organizations, which may affect the evaluation of these organizations. In this perspective, the research had the objective of analyzing the performance of real estate development organizations in Brazil, from the perspective of accounting information users, in a scenario of changes in revenue recognition criteria. The Construction Industry is one of the most important sectors for the economy, since the development and production capacity of a country is directly related to the growth of this sector. After a review in the literature on performance measurement in the Construction Industry, it was found that measures of profitability, indebtedness and liquidity are the most critical to evaluate the organizations that operate in the sector. Through the use of Data Envelopment Analysis and a model of continuous returns of scale with input orientation, it was identified that the efficiency determinants for the organizations listed in the BM&FBovespa of the Civil Construction sub-sector, in the Buildings segment with data available in the Base in Economática®, in the year 2015 are: Share of Net Debt to Equity and Return on Equity. By means of a ranking drawn from the composite efficiency frontier *, the organizations Adolpho Linderberg and Ez Tec Empree. and Participações S.A were considered benchmarking under the perspective of minimization, using a lower capital structure, maintaining stable levels of profitability. From these results it was verified that the management of the capital cost, considering the demand of the interested parties, as proposed by the Theory of Stakeholders contributed to determine the efficiency of these organizations. Additionally, revenue recognition was simulated through the cases of three real estate developments of a real estate development organization, located in the metropolitan region of Goiânia / GO. Although the results can not be generalized, they confirm that the change in methodologies for revenue recognition affects the performance analysis of Brazilian real estate development organizations, and that the methodology proposed by IFRS 15 allows managers a greater degree of discretion in disclosure of the organizations' economic results.