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Influência de variáveis macroeconômicas no preço das ações do setor financeiro da b3

Author

Listed:
  • Vinícius Naves Andrade

    (Universidade Federal de Uberlândia (UFU))

  • João Gonçalves Silva Muntaser

    (Universidade Federal de Uberlândia (UFU))

  • Thiago Alberto dos Reis Prado

    (Universidade Federal de Uberlândia (UFU))

Abstract

This study aimed to analyze the influence of macroeconomic variables on the behavior of stock prices of companies in the financial sector on the Brazilian stock exchange. The model of linear regression with panel data was applied in order to verify the relationship between the independent variables and the dependent variable. From the regression model coefficients, it is suggested that there is a negative relationship between the independent variable Special System for Settle-ment and Custody (Sistema Especial de Liquidação e de Custódia [Selic]) interest rate and the dependent variable, which suggests that an increase in the basic in-terest rate will imply a reduction in stock prices of the financial sector. The study also suggests that there is a positive relationship between the independent variable gross domestic product (GDP) and the dependent variable, assuming that, when there is an increase in the country’s wealth production, there is also an increase in the price of shares in the financial sector of B3.

Suggested Citation

  • Vinícius Naves Andrade & João Gonçalves Silva Muntaser & Thiago Alberto dos Reis Prado, 2022. "Influência de variáveis macroeconômicas no preço das ações do setor financeiro da b3," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 19(1), pages 170-190, january-j.
    • Handle: RePEc:aft:journl:v:19:1:2022:jan:jun:p:170-190
    DOI: 10.5935/1808-2785/rem.v19n1p.170-190
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    More about this item

    Keywords

    macroeconomics variables; financial market; stock exchange; B3; financial sector.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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