A Dinâmica Das Exportações Brasileiras Nos Períodos Pré E Pós-Crise Financeira Mundial De 2008/2009: Uma Análise Shift-Share

Filho, José Firmino de Sousa; Silva, Libania Araújo; Menezes, Vladson Bahia

doi:10.21452/rde.v2i40.5667

Cited by 2 publications

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“…With the implementation of the Real Plan in 1994, the Brazilian economy maintained a stable behavior during the 1990s and 2000s, although it presented some bumps in that period. However, the subprime crisis, caused by subprime mortgage lending in the United States in 2008, peaked in Brazil in 2012, when several macroeconomic indicators showed a lower behavior than those observed in several other countries, thus signaling a period of low economic growth for the Brazilian economy (Sousa Filho, Silva & Menezes, 2018).…”

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confidence: 99%

Política de Dividendos e Períodos de Recessão: Evidências no Mercado de Capitais Brasileiro

Martucheli¹,

Ribeiro²,

Silva³

et al. 2021

CGG

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Objective: To observe the dividend distribution behavior of Brazilian stock market [B]³ listed companies, comparing periods of expansion and recession in the Brazilian economy.Method: Two panel data models were carried out, with the payout index and the dividend yield index as dependent variables and a dummy classified as 1 for years of economic recession and 0 for years of economic rise as an independent variable. In addition, the financial leverage, size and earnings per share control variables were added to the model.Originality/Relevance: The study addressed the distribution of dividends according to the cycle of the Brazilian economy, which makes the research original, since no similar studies were found.Results: Regardless of the proxy used for dividend distribution, companies increase dividend distribution in periods of recession, when there is greater market uncertainty. Regarding the control variables, for the model estimated using the proxy payout index, all variables were significant, while for the model that has the proxy dividend yield as a dependent variable, earnings per share were not significant.Theoretical/Methodological contributions: Identification of the economic aspect in the dividend policy of Brazilian companies and in the creation of value for shareholders in periods of economic recession.

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Section: Introductionmentioning

confidence: 99%

Política de Dividendos e Períodos de Recessão: Evidências no Mercado de Capitais Brasileiro

Martucheli¹,

Ribeiro²,

Silva³

et al. 2021

CGG

View full text Add to dashboard Cite

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Evaluation of the Effects of Price, Exchange, and Volume on the Growth of Revenues From Brazilian Exports of Wood Products

et al. 2023

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Brazil has advanced in export volume but has not been able to increase prices over the last decade for wood products. This work seeks to contribute to the understanding of this conflicting scenario, evaluating the growth in the revenue of Brazilian exports of these products during two periods: 2011-2015 and 2016-2020, as well as decomposing its effects in price, exchange rate, and volume. The method applied was the shift-share, widely used to identify determinants of sectoral and regional economic growth, being a precursor to the approach in the analysis of forest sector exports. Historical series for 5 (five) categories of wood products were analyzed, with export data from the Ministry of Economy. The historical series of nominal exchange rates from the Institute of Applied Economic Research (IPEA) was used. The real effective exchange rate (RER) followed the methodological note of the IPEA. All product categories analyzed had positive effects in terms of volume, for both periods, with a greater proportion in the second being driven by the exchange rate, although with a loss in real price, failing to offset inflation. The only exception was wood manufacturers, a product with higher added value, which presented gains in volume, exchange rates, and price. The volume effect was the most relevant, followed by the exchange rate as a result of the appreciation of the dollar against the real against the exchange rate and control of inflation in terms of the divergent effects on the national and international scenario. The price presented negative variations in export revenue, with a decline over the period. In addition to the added value of exported products, world stocks and levels of consumption may have contributed negatively to this scenario, affecting all categories of exported products, except for manufactured wood products, the only category that did not reflect such justifications.

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A Dinâmica Das Exportações Brasileiras Nos Períodos Pré E Pós-Crise Financeira Mundial De 2008/2009: Uma Análise Shift-Share

Abstract: O crescimento das exportações induz ao aumento da produção, eleva os ganhos de produtividade, caso os retornos de escala sejam crescentes e, sob determinadas condições, os ganhos de produtividade reduzem os custos de mão-de-obra e reduzem os preços das me

Cited by 2 publications

References 0 publications

Política de Dividendos e Períodos de Recessão: Evidências no Mercado de Capitais Brasileiro

Política de Dividendos e Períodos de Recessão: Evidências no Mercado de Capitais Brasileiro

Evaluation of the Effects of Price, Exchange, and Volume on the Growth of Revenues From Brazilian Exports of Wood Products

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