Search

Copyright of Revista Ambiente Contábil is the property of Revista Ambiente Contabil and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Ambiente Contábil is the property of Revista Ambiente Contabil and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Objective: This study investigated the effects of economic policy uncertainty on corporate investments of publicly traded companies listed in Brazil from 2010 to 2020. Uncertainty about economic policy can intensify the value of the option of waiting for new information and cause delays in corporate investments, as suggested by the Real Options Theory. Method: To analyze this relationship, the System Generalized Method of Moments was used, with panel data for a sample of 153 companies, capable of addressing endogeneity problems caused by data of this nature. Results: It was found that increases in economic policy uncertainty cause reductions in the volumes of capital expenditures of companies, with persisting effects in at least four future quarters. Moreover, corporate investments were more responsive to general economic uncertainty, as measured by the Economic Uncertainty Index -- Brazil (IIE-Br), than to economic policy uncertainty, as measured by the Economic Policy Uncertainty Index (EPU). Contributions: We confirm that uncertainty in the measured dimensions can delay corporate investments in Brazil. The proposed dynamic model is suitable in predicting firm responses to uncertainty in future periods. This study contributes to a better understanding of the dynamics of corporate investment decisions in Brazil. This information is useful for market analysts in their forecasts, as well as policymakers in developing policies that ensure the balance of such decisions. [ABSTRACT FROM AUTHOR]

Purpose: To analyze the relationship between economic policy uncertainty in the Brazilian stock market and the accruals anomaly from 2010 to 2019. Method: Time series procedures were performed using the CAPM model, including the accrual factor, in order to obtain the abnormal return. Following this step, we evaluated how the uncertainty of economic policy affected the abnormal return due to accruals, which was calculated using the panel data approach with cluster-robust standard errors. Results and Discussion: The results suggest that economic policy uncertainty influences the abnormal returns due to accruals, indicating that stocks show higher abnormal returns in periods of greater economic policy uncertainty. When considering the volatility index, the results are reversed. In this case, increases in expected volatility can induce investors to sell stocks, reducing stock prices and, consequently, their returns. Nevertheless, rational investors could reap uncertainty premiums as prices recover. Contributions: Economic policy uncertainty, and uncertainty in general, can be regarded as a relevant topic for academia and policymakers, as well as the analysis of the impacts of stock market returns. Moreover, this study can assist portfolio managers and investors in financial markets to improve the stability of policy implementation, avoid abnormal fluctuations in equity markets and suggest investment strategies with perspectives based on economic policy uncertainty and implied market volatility. [ABSTRACT FROM AUTHOR]

Copyright of REUNIR: Revista de Administração, Contabilidade e Sustentabilidade is the property of REUNIR - Revista de Administracao, Contabilidade e Sustentabilidade and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Credit unions can take the form of social impact businesses as they develop actions that generate consequences that minimize the condition of vulnerability and poverty. This study aimed to describe and analyze the social and economic impacts provided to students attended by an education program developed by the credit union Sicoob Credichapada. From a single exploratory case study, we used documentary analysis, interviews and unsystematic observation. The results show that the education program can generate positive results in young people, as financial education, life purposes, social awareness and leadership. The study sought to focus on the impacts of generating and managing resources and changing the life perspectives of students. From the exposure of these results, it is expected that other communities seek social transformation through businesses with social impact, such as credit unions. [ABSTRACT FROM AUTHOR]