Capital structure and windows of opportunities: Tests in the Brazilian market Estrutura de capital e janelas de oportunidade: Testes no mercado brasileiro
Tipo
Artigo
Data de publicação
2009
Periódico
Revista de Administracao Mackenzie
Citações (Scopus)
5
Autores
Mendes E.A.
Basso L.F.C.
Kayo E.K.
Basso L.F.C.
Kayo E.K.
Orientador
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ISSN da Revista
Título de Volume
Membros da banca
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Resumo
© 2009 Mackenzie Presbyterian University. All rights reserved.This study tests the market timing theory (EMTT) in the Brazilian Stock Market. The study is an adaptation from the Baker and Wurgler's article (2002) that successfully tested this theory in the American Stock Market. The theory has not been proven in the Brazilian Market. The leverage decreased in the first year after the initial public offerings (IPO), but it grew once again without presenting the persistency required to corroborate the theory.