O "corporate finance" das empresas norte-americanas no período recente
- Autores
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Marcos Antonio Macedo Cintra
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- Palavras-chave:
- Mercado de capitais, Instituições financeiras
- Resumo
- In this article we will explore the corporate finance of the american firms and the interfaces with the financial system. The capital markets in the 80's and 90's became very significative in terms of the ammount and extension, determining important impacts under the form of creation and admnistration of wealth, with a deepening of the capital market-based financial system paradigm. In the new system of highly sophisticated actions and speculations the capital markets adopted the role of main temple of finance, where the market oriented financial system is led to paroxysm. However, most of these actions occurr among the financial agents themselves. As to the relationships with the firms we will try to Show that the corporations financing pattern, through the so called "external capital market", shows very particular features. Capitals have extreme mobility and fluidity. The resources from the stokholders transfer from one firm to another based on expectations of short run appreciation of their stocks. The firms with stocks traded on the stock market depend on a "transitory" property structure, directed by the institutional investors that act as agents for the individuals investors.
- Downloads
- Edição
- v. 20 n. 1 (1999)
- Seção
- Artigos
- Licença
- A remessa dos artigos à revista implica a cessão dos direitos autorais à FEE.