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Análise dos efeitos da globalização monetária e financeira sobre a estrutura e o funcionamento do sistema financeiro brasileiroAssis, Nanci Souto de 05 November 2007 (has links)
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Previous issue date: 2007-11-05 / The aim of this thesis is to document the important fusion and acquisition
process that was created during Real Plan, on this period at Brazil had one change in
your system through the open market and the change of your cambial system. We
believed that it is recent event and your documentation is very simple and generic, so
we decided to create our interpretation about this subject.
On the first chapter, we describing about main and important historic
moments. On the next chapter, we are reviewing the economic and financial
concepts through chronologic line. On the third chapter, we go to investigating how
this alteration (monetary and cambial politic) to accelerate the financial structural
system process. Finally, on the fourth chapter we are to exposure all numbers about
the new brazilian financial structure and to context then in to the worldwide process in
other words financial globalization process / Esta dissertação pretende documentar o processo de fusões e aquisições que
ocorreu fortemente a partir do Plano Real, período em que o Brasil viveu a mudança
de seu sistema através da abertura de seu mercado e modificação de seu sistema
cambial. Acreditamos que esse evento, por ser recente, não foi explorado em toda a
sua extensão, e este trabalho tem o objetivo de gerar uma interpretação sob tal fato.
Inicialmente, iremos discorrer sobre o momento histórico que estamos
analisando, nos atendo aos pontos que serão úteis no entendimento maior de nossa
análise.
Em seguida, iremos fazer uma revisão de conceitos econômicos e financeiros
relativos ao sistema financeiro (bancário), construindo uma linha cronológica. Será
dada especial ênfase aos fatores que constituíram o atual sistema. O passo seguinte
consistirá na investigação e exposição de em que medida a alteração da política
monetária e cambial brasileira acelerou o processo de estruturação do sistema
financeiro/bancário.
A dissertação, por fim, mostrará em números as modificações ocorridas e irá
posicionar estes números dentro do processo mundial de monopolização financeira
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Sustainability performance and market risk. A study of the banking sectorSärkiniemi, Arvid, Lindman, Oskar January 2023 (has links)
The financial crisis of 2007-2008 highlighted the societal impacts of bank risk-taking. A strong focus on maximizing profits for shareholders combined with a disregard for, and underestimation of risks led to the downfall of large banks such as Lehman Brothers and multiple other banks getting bailed out by several governments and other banks. The financial crisis spread and impacted all major financial markets across the globe, which highlights the importance of investigating the banking sector from a global perspective. In addition, the influences of corporate social responsibility (CSR) on financial performance and risk have been a growing topic in research as well as in practice. Most banks today invest large amounts of money in CSR activities. The question of how bank spending in CSR activities impacts market risk is important. There are two contradicting views on CSR activities and market risk. The risk mitigation view suggests that banks that focus on stakeholder satisfaction have lower risk due to increased moral capital with stakeholders. The overinvestment view suggests that managers waste scarce resources by overinvesting in CSR activities to further selfish goals and therefore increase risk. This study examines the relationship between sustainability performance (ESG Combined score) and market risk (VaR/CVaR) using a deductive approach. The authors sample 159 banks from 39 countries and all 7 economic regions from 2011-2022. Data is used for testing hypotheses. Results find high ESG Combined Scores are associated with lower VaR/CVaR and results are robust to modifications in VaR/CVaR calculation assumptions. Disaggregation of ESG pillars shows that social pillar scores decrease VaR/CVaR in banks while environmental and governance pillars are insignificant. Results primarily lend support to the risk mitigation view and stakeholder theory stating that firms should focus more on stakeholder satisfaction than maximizing shareholder value. Complementing theories such as legitimacy theory and resources-based view are also considered important theories for explaining the results.
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