Return to search

Brazil’s 2014 presidential elections: the interconnection between election news and stock market behavior

Submitted by Luca Werth (luca.camilla.werth@gmail.com) on 2016-02-13T14:21:02Z
No. of bitstreams: 1
Thesis_Luca_Werth_IMF_FGV.pdf: 13602681 bytes, checksum: 08724741af45a494cd2781c7b14906f7 (MD5) / Approved for entry into archive by Ana Luiza Holme (ana.holme@fgv.br) on 2016-02-15T11:43:25Z (GMT) No. of bitstreams: 1
Thesis_Luca_Werth_IMF_FGV.pdf: 13602681 bytes, checksum: 08724741af45a494cd2781c7b14906f7 (MD5) / Made available in DSpace on 2016-02-15T15:01:53Z (GMT). No. of bitstreams: 1
Thesis_Luca_Werth_IMF_FGV.pdf: 13602681 bytes, checksum: 08724741af45a494cd2781c7b14906f7 (MD5)
Previous issue date: 2016-01-19 / This study researches whether there has been abnormal stock market behaviour in Brazil as a consequence of election news (observed via opinion polls), regarding the last Brazilian presidential election, held in October 2014. Via applying event study methodology, the research on the Ibovespa and Petrobras suggests that events in which Rousseff was gaining in share have been subject to negative abnormal returns, and events where Rousseff was loosing in share have led to positive abnormal returns. Moreover, volatility has been significantly elevated during the election period and volume has been found to have slightly increased. / Este estudo investiga se houve comportamento anormal no mercado de ações no Brasil decorrente de notícias sobre as últimas eleições presidenciais brasileiras (através da utilização de sondagens), realizadas em outubro de 2014. Utilizando uma metodologia de estudos de evento (event studies), a investigação sobre o Ibovespa e a Petrobras sugere que, nos períodos em que Dilma melhorava a sua posição nas sondagens existiram retornos anormais negativos e, nos períodos em que Rousseff piorava a sua posição, existiram retornos anormais positivos. Além disso, a volatilidade foi bastante elevada durante o período eleitoral tendo o volume de transações aumentado ligeiramente.

Identiferoai:union.ndltd.org:IBICT/oai:bibliotecadigital.fgv.br:10438/15269
Date19 January 2016
CreatorsWerth, Luca Camilla
ContributorsSilva, André de Castro, Tavares, Antonio, Escolas::EESP, Mergulhão, João de Mendonça
Source SetsIBICT Brazilian ETDs
LanguageEnglish
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis
Sourcereponame:Repositório Institucional do FGV, instname:Fundação Getulio Vargas, instacron:FGV
Rightsinfo:eu-repo/semantics/openAccess

Page generated in 0.0024 seconds