Detalhes bibliográficos
| Ano de defesa: |
2012 |
| Autor(a) principal: |
Azevedo, Adailton Cordeiro de |
| Orientador(a): |
Não Informado pela instituição |
| Banca de defesa: |
Não Informado pela instituição |
| Tipo de documento: |
Dissertação
|
| Tipo de acesso: |
Acesso aberto |
| Idioma: |
por |
| Instituição de defesa: |
Não Informado pela instituição
|
| Programa de Pós-Graduação: |
Não Informado pela instituição
|
| Departamento: |
Não Informado pela instituição
|
| País: |
Não Informado pela instituição
|
| Palavras-chave em Português: |
|
| Link de acesso: |
http://www.repositorio.ufc.br/handle/riufc/9464
|
Resumo: |
In this work we enter the debate about the ability of a Brazilian investor intending to diversify risk by allocating resources in international assets. Based on unleveraged strategies of portfolios composition using 35 of the most representative stock market indices worldwide, we evidence that in times of financial crisis one should not follow a fundamental approach, while during periods of recovery or economic stability, the investor Brazilian should observe other countries. To summarize, all equal-weighted and optimization based portfolios have risk levels lower than those reported for the Bovespa Index, signaling the capacity of international diversification of risk. However, in terms of relation risk-return, it is possible that simple investment strategies using only stock market indices of countries of South America have satisfactory results. Although the aspects explaining the home bias, Brazilian investors should be motivated to think of feasible strategies able to reduce exposure to risk sources of political or macroeconomic that comprise the systemic risk of the domestic financial market. |
