Participe de mais uma apresentação do seminário de Economia, sexta-feira, dia 10 de Maio, organizado pela professora Mariya Brussevich.
Na ocasião, teremos a apresentação de Fernando Nascimento de Oliveira, professor do Ibmec e economista-chefe do Banco Central do Brasil. A sua pesquisa concentra-se em economia monetária, macroeconomia e finanças corporativas.
- Título: Determinant Factors of Hedging and Speculation with Foreign Exchange Derivatives of Brazilian Private Firms
- Palestrante: Fernando Nascimento de Oliveira (Ibmec e Banco Central do Brasil)
- Resumo: This paper examines the determinant factors of hedging and speculation with foreign exchange derivatives of Brazilian private firms. We build an original database of 211,746 contracts of plain vanilla derivatives of foreign exchange from 2010 to 2020 of these firms. From these contracts, we identify that the most relevant factor that affects positively hedging is the ratio between foreign exchange exposure and total assets, while profitability and growth opportunities are the most important factors that affect negatively speculation. We also observe that many more private firms speculate rather than hedge with foreign exchange derivatives in Brazil. Our results are, in general, statistically significant and robust to different specifications and econometric techniques, including those that deal with endogeneity of regressors and measurement errors of binary dependent variables.
📅: 10/05/2024 (sexta-feira)
⏱️: 12h30 às 13h30
📍: Ibmec Centro, sala 405 (presencial)
Sua participação conta com horas complementares. Para receber 3 créditos, basta que os alunos que assistiram a palestra entreguem um resumo dela até dia 15/05 para Professora Mariya Brussevich(mariya.brussevich@professores.ibmec.edu.br) e Professor Gustavo Herkenhoff Moreira (gustavo.herkenhoff@ibmec.edu.br).
Esperamos por você!
Ibmec-se!