ETDs @PUC-Rio
| Título: | COST OF CAPITAL AND CREATION OR DESTRUCTION OF VALUE: A STUDY OF BRAZILIAN COMPANIES LISTED FROM 2008 TO 2015 | ||||||||||||
| Autor: |
VINICIUS GOMES DOMINATO FERREIRA |
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| Colaborador(es): |
MARCELO CABUS KLOTZLE - Orientador LUIZ FELIPE JACQUES DA MOTTA - Coorientador |
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| Catalogação: | 27/NOV/2017 | Língua(s): | PORTUGUESE - BRAZIL |
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| Tipo: | TEXT | Subtipo: | THESIS | ||||||||||
| Notas: |
[pt] Todos os dados constantes dos documentos são de inteira responsabilidade de seus autores. Os dados utilizados nas descrições dos documentos estão em conformidade com os sistemas da administração da PUC-Rio. [en] All data contained in the documents are the sole responsibility of the authors. The data used in the descriptions of the documents are in conformity with the systems of the administration of PUC-Rio. |
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| Referência(s): |
[pt] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=32153&idi=1 [en] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=32153&idi=2 |
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| DOI: | https://doi.org/10.17771/PUCRio.acad.32153 | ||||||||||||
| Resumo: | |||||||||||||
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The cost of capital of a company representes the minimum expectations of remuneration of the diverse sources of financing taken and for Brazilian companies this cost is considerably higher than in more consolidated markets, as is the case of United States. The fact stems from the various structural difficulties faced by the managers and by characteristics of the incipient Brazilian capital market. In order to analyze the creation or eventual destruction of value of listed Brazilian companies, this study performs a comparative analysis between the market values calculated by standard methodology with the prices presented in the stock market multiplied by the respective quantity of shares, considered by several authors as outdated. Using data from Economática, a Brazilian database that presents accounting and operational information of all the companies listed in the country, the calculations were performed and the analysis of the creation or destruction of companies value was verified for the period between 2008 and 2015, being compared with the values presented in the stock market.
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