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Swap, futuro e opções: impacto do uso de instrumentos derivativos sobre o valor das firmas brasileiras

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  • Sérgio Jurandyr Machado
  • Phillipe Lemes Ribeiro
  • José Luiz Rossi Júnior

Abstract

O trabalho analisa o impacto do uso de instrumentos derivativos, tais como contratos futuros, a termo, opções e swaps sobre o valor da firma, utilizando uma amostra de empresas brasileiras de capital aberto não financeiras entre 2004 e 2007. Os resultados indicam que a utilização de derivativos exerce um impacto positivo no valor das firmas e que este impacto apresenta diferentes magnitudes dependendo do tipo e da combinação de instrumentos derivativos escolhidos.

Suggested Citation

  • Sérgio Jurandyr Machado & Phillipe Lemes Ribeiro & José Luiz Rossi Júnior, 2010. "Swap, futuro e opções: impacto do uso de instrumentos derivativos sobre o valor das firmas brasileiras," Business and Economics Working Papers 091, Unidade de Negocios e Economia, Insper.
    • Handle: RePEc:aap:wpaper:091
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