IPO nos EUA: a motivação por trás da abertura de capital de empresas brasileiras nas bolsas americanas de 2018-2022
Data
2023-01-10
Autores
Reis, Yasmin Rodrigues 
Orientadores
Gallucci Netto, Humberto
Tipo
Trabalho de conclusão de curso
Título da Revista
ISSN da Revista
Título de Volume
Resumo
Este trabalho consiste em entender e identificar quais aspectos influenciaram as empresas Brasileiras a optarem pela listagem direta na bolsa americana ao invés da B3 entre 2018 a julho de 2022. Tal estudo se faz necessário uma vez que este movimento cresceu e tende a crescer nos próximos anos, o que ocasiona a busca por entender essas motivações e compreender quais são as perspectivas para os próximos anos. Para este estudo foi analisado o desempenho das empresas pós IPO nas bolsas americanas (NYSE e NASDAQ) no curto, médio e longo prazo, pelo cálculo do retorno inicial e dos retornos acumulados mensais e anuais. Os resultados da análise mostraram que as empresas que listaram nas bolsas dos EUA captaram um montante de aproximadamente US$11,25 bilhões, que foram utilizados para investimentos em projetos e novas tecnologias e expansão das companhias. Seus indicadores comprovam que o desempenho dessas ações foi positivo no primeiro dia de IPO, porém no longo prazo a grande maioria teve retornos negativos e uma alta volatilidade no primeiro ano, gerando incerteza quanto aos próximos anos.
This work consists of understanding and identifying which aspects influenced Brazilian companies to opt for direct listing on the American stock exchange instead of B3 between 2018 and July 2022. Such a study is necessary since this movement has grown and tends to grow in the coming years, which leads to the quest to understand these motivations and understand what the prospects are for the coming years. For this study, the performance of post-IPO companies on American stock exchanges (NYSE and NASDAQ) in the short, medium and long term was analyzed by calculating the initial return and the monthly and annual accumulated returns. The results of the analysis showed that companies that listed on US stock exchanges raised an amount of approximately US$11.25 billion, which was used for investments in projects and new technologies and expansion of the companies. Its indicators prove that the performance of these shares was positive on the first day of the IPO, but in the long term the vast majority had negative returns and high volatility in the first year, generating uncertainty regarding the coming years.
This work consists of understanding and identifying which aspects influenced Brazilian companies to opt for direct listing on the American stock exchange instead of B3 between 2018 and July 2022. Such a study is necessary since this movement has grown and tends to grow in the coming years, which leads to the quest to understand these motivations and understand what the prospects are for the coming years. For this study, the performance of post-IPO companies on American stock exchanges (NYSE and NASDAQ) in the short, medium and long term was analyzed by calculating the initial return and the monthly and annual accumulated returns. The results of the analysis showed that companies that listed on US stock exchanges raised an amount of approximately US$11.25 billion, which was used for investments in projects and new technologies and expansion of the companies. Its indicators prove that the performance of these shares was positive on the first day of the IPO, but in the long term the vast majority had negative returns and high volatility in the first year, generating uncertainty regarding the coming years.
Descrição
Citação
REIS, Yasmin Rodrigues. IPO nos EUA: a motivação por trás da abertura de capital de empresas brasileiras nas bolsas americanas de 2018-2022. 2022. Trabalho de Conclusão de Curso (Bacharelado em Ciências Atuariais) - Universidade Federal de São Paulo, Escola Paulista de Política, Economia e Negócios, Osasco, 2022.