Dividend
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What drives the release of material facts for Brazilian stocks?
...509-527. Patell, J. M. and Wolfson, M. A. (1984). The intraday speed of adjustment of stock prices to earnings and dividend announcements, Journal of financial economics 13(2): 223-252. Perlin, M. and Ramos, H. (2016). Gethfdata: Ar package for downloading and aggregating ...
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Suzhou industrial park and its role in the belt and road initiative: the great stone industrial park in Belarus.
... 0% until 2062 Customs VAT and taxes 0% for the goods imported to start the project 0% if exported outside the Eurasian economic union (EEU) Dividend tax % For 5 years after the income is declared Payments to social security fund 35% of the national average VAT Is return from budget Source(s): ...
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A (in)viabilidade da reforma fiscal verde no Brasil
A reforma fiscal verde seria uma reforma viável no Brasil? Diante desta questão, este artigo discute os elementos em que se funda a tributação ambiental, mencionando, em seguida, as experiências em curso em outros países, e as eventuais críticas a tal modelo de reforma. A partir destes parâmetros, a reforma fiscal verde é analisada dentro do contexto brasileiro, considerando, essencialmente, a...
... Structural Monitoring - International Benchmarking of Denmark . 2000. . DE MOOIJ, R. A., Environmental taxation and the double dividend , Amsterdan, Elseveier, 2000. . EUROPEAN ENVIRONMENT AGENCY. Récents développements dans l’utilisation des écotaxes au sein de l’Union ... -
Corporate Financial Distress and Reorganization: A Survey of Theoretical and Empirical Contributions.
...Journal of Finance, 54(5), 1855-1868. . Fan, H., & Sundaresan, S. M. (2000). Debt valuation, renegotiation, and optimal dividend policy. Review of Financial Studies, 13(4), 1057-1099. https://doi.org/10.1093/rfs/13.4.1057 . Funchal, B. (2006). Essays on credit and bankruptcy ...
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Determinants of the capital structure of small and medium sized Brazilian enterprises.
...Additionally, we lack data on cash flows, dividend payments and capital expenditures, as well as on debt and equity issuance. Thus, we cannot test whether the financing deficits are closely tracked by ...
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Internal corporate social responsibility and performance: A study of publicly traded companies.
..., developing new products, and sponsoring human resources programs, among others - or simply returning the funds to shareholders through dividend payments is often an issue for executives in such contexts. Without the presentation of projections and return perspectives regarding the decision to ...
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Análise da eficiência na geração de retorno aos acionistas das empresas do setor da construção civil com ações negociadas na BM&FBOVESPA nos anos de 2009 e 2010 por meio da análise envoltória de dados
Este trabalho analisa a eficiência das empresas do setor da construção civil em gerar retorno aos acionistas nos anos de 2009 e 2010, por meio da Análise Envoltória de Dados, considerando o Patrimônio Líquido como input, e lucro líquido, dividendos e variação no preço da ação, como outputs. Os dados foram obtidos por meio da coleta no software Economática® e na base de dados disponível no site da
.... O estudo de Bueno (2002) que abordou os dividendos como estratégia de investimentos em ações propôs verificar a relação entre dividend yields e as taxas de retorno das ações, bem como a viabilidade de uma estratégia baseada em dividend yields históricos de “bater” o ... -
O papel anticíclico do BNDES na crise econômica internacional
O artigo analisa o papel do Banco Nacional de Desenvolvimento Econômico e Social (BNDES) durante a crise deflagrada em 2008. É discutido, a partir de uma abordagem Keynesiana, o papel anticíclico da instituição financeira, com a disponibilização de recursos para financiamento de investimentos e seus efeitos sobre a expansão do emprego, renda e impostos. Em contraste as críticas, especialmente...
... 11 , which concluded that the loan granted by the Treasury to the Bank generates positive impacts on public accounts, primarily through dividend payments made by the bank to the Treasury and a subsequent increase in tax collection tax, due to increased demand created by the Bank's ... -
Multiple Dimensions of Community Network Scalability
.... 90 For instance, maximization of the dividend to shareholders. . 91 For instance, that the network resources and customers are mere speculative assets. . . 6 Multiple Dimensions of Community ...
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The Halloween effect in the Brazilian stock market/O efeito Halloween no mercado acionario Brasileiro.
... resultados anomalos, tais como aqueles observados em carteiras de investimentos formadas de acordo com tamanho, indice book-to-market (B/M), dividend yield (D/P) ou indice preco/lucro (P/L) das empresas. De acordo com os autores, em todas as carteiras analisadas os retornos medios nos semestres de ...
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Private equity and venture capital in Brazil: an analysis of its evolution/Private equity e venture capital no Brasil: uma analise de sua evolucao.
... were: invested capital plus minimum return in case of trade-sale, 79%; recovery of invested capital in the event of liquidation, 36%; and dividend income, 36%. . References . ABDI, Associacao Brasileira de Desenvolvimento Industrial. 2011. A Industria de Private Equity e Venture Capital: Segundo ...
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Por que as empresas fecham o capital no Brasil?
Este artigo investiga os possíveis determinantes no fechamento de capital a partir de uma amostra de 119 empresas que deslistaram voluntariamente no período de 1999 a 2013. Encontramos que no ano do fechamento, fatores como a alta concentração de participação acionária dos controladores, baixa rentabilidade (ROA), menor nível de pagamento de dividendos associados ao maior fluxo de caixa livre...
...We find in the year prior to delisting, factors related to higher ownership concentration, lower return on assets, lower dividend payout associated with higher free cash flow strongly . . Submetido em 30 de dezembro de 2014. ... -
Multilatinas and value creation from cross-border acquisitions: an event study approach.
...Despite the fact that this method was originally conceived to analyze events related to the corporate finance field, such as the effects of dividend and income announcements or the issuance of new shares, its general applicability has spread to several areas of social sciences. The utility of the ...
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Efeitos Entrincheiramento e Alinhamento e Informatividade dos Lucros Contabeis: estudo comparativos
O objetivo da pesquisa consiste em analisar se efeitos decorrentes de estrutura de propriedade concentrada predominam na forma de entrincheiramento ou alinhamento para a informatividade do lucro, condicionada à presença de padrão contábil baseado em princípios. Foi utilizada uma amostra de empresas listadas na BM&FBovespa, considerando o período de 2008 a 2014. Aplicaram-se modelos baseados em...
... Revista de Finanças Aplicadas , v. 3, p.1-39, 2014. . ITURRIAGA, F. J. L.; CRISÓSTOMO, V. L. Do Leverage, Dividend Payout, and Ownership Concentration Influence Firms’ Value Creation? An Analysis of Brazilian Firms. Emerging Markets Finance & Trade , v. 46, n. ... -
Accounting Conservatism and the Market Value of Cash Holdings in Brazil.
...K., MORTON, R. M., & STANFORD-HARRIS, M. (2002). The role of accounting conservatism in mitigating bondholder-shareholder conflicts over dividend policy and in reducing debt costs. The Accounting Review, 77(4), 867-890. ARTIACH, T. C., & CLARKSON, P. (2012). Conservatism, disclosure and the ...
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Brazilian housing bubble: overpriced homes, subprime credit and overwhelming income transfer / Bolha imobiliária brasileira: casas caras, crédito subprime e esmagadora transferência de renda
In Brazil, thousands of people have given all their savings to homes that will never be theirs. New residential buildings remain uninhabited in essential areas of Brazilian cities. This paper aims to show that intentional lack of austerity in the analysis of real estate financing has a critical responsibility for this scenario. The results of granting credit to people who could not afford it are...
...It is worth noting that Brazilian banks belong to a handful of families (PINHEIRO, 2017). . "The explanation for the increase in dividend payments is simple: with the downturn in credit and large profits even in the context of a crisis, banks started working with 'idle capacity' on the ... -
Parametric portfolio selection: evaluating and comparing to Markowitz portfolios/Selecao parametrica de portfolios: avaliacao e comparacao com portfolios de Markowitz.
...(2009) . (2) Characteristics are variables containing information regarding the stocks, e.g. market capitalization, book-to-market, dividend yield and the lagged twelve-month return . (3) A benchmark portfolio is, for example, the equal-weighted portfolio or the value-weighted portfolio. . ...
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Effects of Internationalization on Ownership Structure: Evidence from Latin American Firms
We analyze the direct and simultaneous effects of internationalization on the ownership structure of Latin American companies based on agency theory. Using a sample of 425 Latin American firms between 2007 and 2011, which corresponds to 1,776 observations, we use random effects and three-stage least squares panel data regression to test these effects. We find that the hypothesized positive effect
... refer to the levels of company variables (size, growth opportunity, bankruptcy risk, the level of tangibility of assets, total debt and dividend payments), industry variables (19 industries transformed into 18 dummy variables) and country variables (4 countries transformed into three dummy ... -
Investigación contable, un estudio bibliométrico: identificación de publicaciones relevantes y examen de la estructura intelectuall
Este artigo examina a pesquisa contábil ao longo das últimas duas décadas, definida como estudos publicados em seis periódicos acadêmicos de contabilidade entre 1995 e 2014. Especificamente tem por objetivos: identificar os artigos relevantes (mais citados) e reconhecer grupos de conhecimento em contabilidade explorando a estrutura intelectual da disciplina. Como resultado da análise da citação sã
... Current Comments , n. 19, p.3-13, 1993. . SMITH, Clifford W.; WATTS, Ross L. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of financial Economics , v. 32, n. 3, p. 263–292, 1992. . SODERSTROM, Naomi; SUN, Kevin Jialin. IFRS ... -
Economic gains of realized volatility in the Brazilian stock market/Ganhos economicos da volatilidade realizada no mercado Brasileiro de acoes.
...Stocks in Brazil are divided into preferred (PN) and common (ON) shares. The main difference is that the first type has the priority over dividend distributions, but does not give voting rights. As you can see in the following table, both types of shares are well represented in our database ...
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Are Zombie Companies in Mexico the same as in the rest of the World?
...doi: 10.1108/CMS-12-2014-0225. YAHYA, F., & GHAZALI, Z. B. (2017). Effectiveness of board governance and dividend policy as alignment mechanisms to firm performance and CEO compensation. Cogent Business & Management, 4(1), 1-20. doi: ...
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Capital structure in Brazilian credit unions: which factors are really determinants?
...http://www.planalto.gov.br/ccivil_03/leis/L5764.htm. BUDAGAGA, A. R. (2020). Determinants of banks' dividend payment decisions: Evidence from MENA countries. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 847-871. ...
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Acórdão nº 2004/0027388-7 de T4 - QUARTA TURMA
RECURSO ESPECIAL. DIREITO EMPRESARIAL. SOCIEDADE ANÔNIMA. VIOLAÇÃO AO ART. 535, II, DO CPC. NÃO OCORRÊNCIA. DISTRIBUIÇÃO DE DIVIDENDOS MÍNIMOS. PARTICIPAÇÃO NOS LUCROS REMANESCENTES. EXCLUSÃO. PREVISÃO ESTATUTÁRIA EXPRESSA. ART. 17, §2º, DA LEI N. 6.404/76 (COM REDAÇÃO ANTERIOR À LEI N. 10.303/2001). POSSIBILIDADE. RECURSO NÃO CONHECIDO. 1. Não há falar em omissão do acórdão guerreado, porquanto...
..., nor is there any indebtedness to them on the part of the corporation, so as to entitle them to maintain an action against it, until a dividend has been made or declared, In other words, until the earnings of a corporation are separated from its capital and segregated for dividend purposes ... -
Brazilian Pension Funds And Millionaire Investors Can Now Purchase BRDs
... For portfolio composition, the acquisition of BDRs Level I is considered a foreign investment. If the foreign issuing company pays a dividend overseas, the Brazilian investor will receive the net value of the dividend in Brazilian Reais, after the dividend is paid abroad, through the ...
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Petrobras exceeds expectations with profit of R$44bn
...Shareholders who were listed on May 23 at B3 will be entitled to the dividend.In the case of holders of depositary receipts (ADRs) on the New York Stock Exchange, the installments will be paid on June 27 and July 27. As of May ...