Utilização de instrumentos derivativos como Hedge cambial para empresas no mercado brasileiro
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Data
2021-02-24
Autores
Beltran, Lucas Aureliano Petrone [UNIFESP]
Orientadores
Oliveira Filho, Bolívar Godinho de [UNIFESP]
Tipo
Trabalho de conclusão de curso de graduação
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Resumo
Estratégias de hedge se fazem de extrema importância para empresas brasileiras que negociam parte de seus ativos ou passivos em moeda estrangeira, nesse cenário, os derivativos se mostram eficientes se utilizados para esse fim. Um derivativo é um contrato entre duas ou mais partes cujo valor é baseado em um ativo financeiro subjacente acordado, sendo os mais comuns: moedas, taxas de juros, commodities, índices de mercado e ações. O presente trabalho se propôs a identificar qual o impacto do uso de derivativos sobre o valor da firma e, para isso, foram levantados os seguintes questionamentos: qual a média dos valores destinados aos derivativos por empresas brasileiras listadas no índice Bovespa e qual é o impacto de seu uso sobre o valor da firma? Para buscar responder, fez-se uso de uma abordagem quantitativa nos dados coletados. Como principal resultado, obteve-se que o uso de derivativos desempenha impacto positivo no valor da firma.
Hedging strategies are extremely important for Brazilian companies that trade part of their assets or liabilities in foreign currency, in this scenario, derivatives are efficient if used for this purpose. A derivative is a contract between two or more parties whose value is based on an agreed underlying financial asset, the most common of which are: currencies, interest rates, commodities, market indices and stocks. The present work aimed to identify the impact of the use of derivatives on the value of the firm and, for that, the following questions were raised: what is the average of the values destined to derivatives by Brazilian companies listed in the Bovespa index and what is the impact of its use on the value of the firm? To seek to answer, a quantitative approach was used in the data collected. As a main result, it was obtained that the use of derivatives has a positive impact on the value of the firm.
Hedging strategies are extremely important for Brazilian companies that trade part of their assets or liabilities in foreign currency, in this scenario, derivatives are efficient if used for this purpose. A derivative is a contract between two or more parties whose value is based on an agreed underlying financial asset, the most common of which are: currencies, interest rates, commodities, market indices and stocks. The present work aimed to identify the impact of the use of derivatives on the value of the firm and, for that, the following questions were raised: what is the average of the values destined to derivatives by Brazilian companies listed in the Bovespa index and what is the impact of its use on the value of the firm? To seek to answer, a quantitative approach was used in the data collected. As a main result, it was obtained that the use of derivatives has a positive impact on the value of the firm.