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Transição de modos de vida rurais na Amazônia brasileira: uma perspectiva longitudinal sobre diversificação da renda, atividades agrícolas e uso da terra entre pequenos produtores; Rural livelihood transition in the Brazilian Amazon: a longitudinal perspective on income diversification, agricultural activities, and land use among small farmers

Lui, Gabriel Henrique
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 18/02/2013 PT
Relevância na Pesquisa
36.02%
A expansão da economia de mercado tem interferido nas motivações de produção e consumo, não só dos grandes produtores orientados para o mercado global, mas também dos pequenos produtores originalmente orientados para a subsistência e mercados locais. Como um dos resultados dessas mudanças, observa-se a retração da agricultura de pequena escala, com a diminuição da importância da renda agrícola e um aumento da importância da renda proveniente de outras fontes, como trabalhos em tempo parcial, prestação de serviços, empregos públicos e benefícios sociais. No Brasil, grandes programas de transferência condicionada de renda, como o Bolsa Família, e o acesso universalizado às aposentadorias e pensões rurais, que atendem milhões de pessoas, também têm colaborado de maneira significativa para a diversificação dos rendimentos rurais. Ao se deparar com novas fontes de renda que não requerem a mobilização de mão de obra, qual seria a postura das famílias? Haveria um movimento de reinvestimento da renda adicional nas atividades agrícolas? Ou esses rendimentos externos estariam contribuindo para afastar ainda mais as famílias da agricultura? Quais os resultados dessas decisões para o uso da terra? Diante dessas questões...

The Microeconomic Determinants of Emigration and Return Migration of the Best and Brightest : Evidence from the Pacific

Gibson, John; McKenzie, David
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
36.02%
A unique survey which tracks worldwide the best and brightest academic performers from three Pacific countries is used to assess the extent of emigration and return migration among the very highly skilled, and to analyze, at the microeconomic level, the determinants of these migration choices. Although the estimates indicate that the income gains from migration are very large, not everyone migrates and many return. Within this group of highly skilled individuals, the emigration decision is found to be most strongly associated with preference variables such as risk aversion, patience, and choice of subjects in secondary school, and not strongly linked to either liquidity constraints or the gain in income to be had from migrating. Likewise, the decision to return is strongly linked to family and lifestyle reasons, rather than to the income opportunities in different countries. Overall the data show a relatively limited role for income maximization in distinguishing migration propensities among the very highly skilled...

How Should Fiscal Policy Respond to the Economic Crisis in the Low Income Commonwealth of Independent States? Some pointers from Tajikistan

Brownbridge, Martin; Canagarajah, Sudharshan
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
46.15%
The paper analyses how the global economic crisis will affect the economies of the low income Commonwealth of Independent States (CIS) and discusses the fiscal measures which can be taken to help mitigate the adverse impact of the crisis. It focuses on Tajikistan, the poorest member of the CIS but also highlights similarities with the economies of Armenia, the Kyrgyz Republic and Moldova. The main channels through which the global economic crisis will affect the low income CIS economies is through a sharp reduction in remittances from migrant workers in Russia and lower export earnings. The adjustment to this external shock will involve a reduction in imports, private consumption, domestic output and government revenue. Fiscal policy, constrained by very limited macroeconomic and fiscal space, faces acute challenges. Maintaining budget targets for fiscal deficits and domestic borrowing in the face of revenue shortfalls will lead to a tightening of the fiscal stance, exacerbating recessionary pressures and making it very difficult to protect priority social expenditures from cuts. To avoid these outcomes...

Using Pseudo-panels to Measure Income Mobility in Latin America

Cuesta, Jose; Nopo, Hugo; Pizzolitto, Georgina
Fonte: Banco Mundial Publicador: Banco Mundial
Tipo: Artigo de Revista Científica
EN
Relevância na Pesquisa
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This paper presents a comparative overview of mobility patterns in 14 Latin American countries between 1992 and 2003. Using three alternative econometric techniques on constructed pseudo-panels, the paper provides a set of estimators for the traditional notion of income mobility as well as for mobility around extreme and moderate poverty lines. The estimates suggest very high levels of time-dependent unconditional immobility for the region. However, the introduction of socioeconomic and personal factors reduces the estimate of income immobility by around 30 percent. There are also large variations in country-specific income mobility (estimated to explain some additional 10 percent of inter-temporal income variation). Analyzing the determinants of changes in poverty incidence within cohorts revealed statistically significant roles for age, gender, and education of the household head, the latter subject to distinctive effects across levels of attainment and transition in and out of poverty.

Patterns of Rainfall Insurance Participation in Rural India

Gine, Xavier; Townsend, Robert; Vickery, James
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
36.03%
This paper describes the contract design and institutional features of an innovative rainfall insurance policy offered to smallholder farmers in rural India, and presents preliminary evidence on the determinants of insurance participation. Insurance takeup is found to be decreasing in basis risk between insurance payouts and income fluctuations, increasing in household wealth and decreasing in the extent to which credit constraints bind. These results match with predictions of a simple neoclassical model appended with borrowing constraints. Other patterns are less consistent with the "benchmark" model; namely, participation in village networks and measures of familiarity with the insurance vendor are strongly correlated with insurance takeup decisions, and risk-averse households are found to be less, not more, likely to purchase insurance. We suggest that these results reflect household uncertainty about the product itself, given their limited experience with it.

The Financial Crisis and Mandatory Pension Systems in Developing Countries : Short-and Medium-Term Responses for Retirement Income Systems

Dorfman, Mark; Hinz, Richard; Robalino, David
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
36.03%
The international financial crisis has severely affected the value of pension fund assets worldwide. The unfolding global recession will also impose pressures on public pension schemes financed on a pay-as-you-go basis, while limiting the capacity of governments to mitigate both of theses effects. Governments are reacting to these events in different ways. Some are asking whether the balance between funded defined-contribution and unfunded pension schemes should be reconsidered. A few have already taken actions to reverse prior reforms. This note discusses the potential impacts of the financial crisis on fully funded and pay-as-you-go retirement-income systems in World Bank client countries, and identifies key short-and medium-term policy responses.

Turkey - Country Economic Memorandum (CEM) : Sustaining High Growth - The Role of Domestic savings : Synthesis Report

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
36.2%
Domestic savings in Turkey declined significantly in the 2000s. The domestic savings rate declined from an average of 23.5 percent of gross national income in the 1990s to an average of 17 percent over the 2000-2008 period, and further to 12.7 percent in 2010. This decline was driven by the sharp fall in private saving, while public saving increased through most of the period. A strong fiscal adjustment underpinned the improvement in public savings in the post-2001 period. The adjustment was pursued to correct the fiscal expansion of the previous decade, and it led to a sharp reduction in the public debt to gross domestic product (GDP) ratio. This improved the public saving-investment balance and helped reduce the vulnerability of the economy to external shocks. With an expected increase in future investment needs, continued fiscal discipline will be vital for sustainable growth. The fall in private savings after 2001 was mostly a result of the decline in macroeconomic vulnerabilities. While the economy was growing fast...

Closing Rural-Urban MDG Gaps in Low-Income Countries : A General Equilibrium Perspective

Lofgren, Hans
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.14%
This paper addresses policies aimed at closing the rural-urban gap for one of the Millennium Development Goals (MDGs), the under-five mortality rate (U5MR). The paper relies on the Maquette for MDG Simulations (MAMS), a computable general equilibrium model, applied to the database of an archetypical low-income country. The scenarios, which focus on the period 2013-2030, include a "business-as-usual" base scenario and policy scenarios that analyze efforts to raise the rural population up to the urban level in terms of health services or the under-five mortality rate. The policy scenarios are implemented with alternative sources of fiscal space. The results indicate that, if current trends continue, considerable progress for MDGs should be expected by 2030. If the government raises rural health services, then the decline in the rural U5MR would accelerate. If most additional resources come from foreign grants or government efficiency gains, then the repercussions for other development indicators, including poverty reduction...

Middle-Income Traps : A Conceptual and Empirical Survey

Im, Fernando Gabriel; Rosenblatt, David
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
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In recent years, the term "middle-income trap" has entered common parlance in the development policy community. The term itself often has not been precisely defined in the incipient literature. This paper discusses in more detail definitional issues on the so-called middle-income trap. The paper presents evidence in terms of both absolute and relative thresholds. To get a better understanding of whether the performance of the middle-income trap has been different from other income categories, the paper examines historical transition phases in the inter-country distribution of income based on previous work in the literature. Transition matrix analysis provides little support for the idea of a middle-income trap. Analysis of cross-country patterns of growth provides additional support for the conclusions in the paper, which closes with a general discussion of potential policy implications.

Three Essays on the Taxonometrics of Labor Income; Drei Beiträge zur ökonometrischen Untersuchung der Folgen der Besteuerung von Arbeitseinkommen

Weiss, Martin
Fonte: Universidade de Tubinga Publicador: Universidade de Tubinga
Tipo: Dissertação
DE_DE
Relevância na Pesquisa
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Diese Dissertation umfasst drei Beiträge zur ökonometrischen Untersuchung der Wirkungen der Besteuerung von Arbeitseinkommen (Taxonometrics). Der erste Beitrag versucht die Frage zu klären, wie die Besteuerung von Arbeits- und Kapitaleinkommen miteinander kompatibel gemacht werden können. Dazu wird eine Mincer Gleichung geschätzt, die den Verlauf von Alters-Einkommens-Profilen für deutsche Universitätsabgänger liefert. Der Schätzer von Hausman und Taylor (1981) wird benutzt, um mit der offensichtlichen Endogenität der Ausbildungsdauer umzugehen. Diese Ergebnisse werden auf das Modell von Nielsen und Soerensen (1997) angewandt. Schließlich wird eine Sensitivitätsanalyse durchgeführt, die zeigt, wie stark der Steuersatz auf Arbeitseinkommen erhöht werden muss, um ihn mit dem -als exogen angenommenen- Kapitaleinkommensteuersatz kompatibel zu machen. Dabei wird der Zinssatz jeweils variiert. Der zweite Beitrag untersucht die Humankapitalinvestitionen, die Arbeiter unternehmen, nachdem sie die Universität verlassen haben und im Arbeitsmarkt aktiv sind. Die Erträge aus Schulungsmaßnahmen, die zwischen 2001 und 2003 in Deutschland unternommen wurden, werden mit einem "treatment effects model" geschätzt. Die Ergebnisse zeigen...

Impact of cost of medicines for chronic conditions on low income households in Australia

Kemp, A.; Preen, D.; Glover, J.; Semmens, J.; Roughead, E.
Fonte: Royal Society of Medicine Press Ltd. Publicador: Royal Society of Medicine Press Ltd.
Tipo: Artigo de Revista Científica
Publicado em //2013 EN
Relevância na Pesquisa
36.06%
OBJECTIVES: To determine the cost of medicines for selected chronic illnesses and the proportion of discretionary income this would potentially displace for households with different pharmaceutical subsidy entitlements and incomes. METHODS: We analysed household income and expenditure data for 9,774 households participating in two Australian surveys in 2009-10. The amount of 'discretionary' income available to households after basic living and health care expenditure was modelled for households with high pharmaceutical subsidies: pensioner and non-pensioner concessional (social security entitlements); and households with general pharmaceutical subsidies and low, middle or high incomes. We calculated the proportion of discretionary income that would be needed for medicines if one household member had diabetes or acute coronary syndrome, or if one member also had two co-existing illnesses (gastro-oesophageal reflux disease and depression, or asthma and osteoarthritis). RESULTS: Pensioner and low income households had little discretionary income after basic living and health care expenditure (AUD$92 and $164/week, respectively). Medicines for the specified illnesses ranged from $11-$42/month for high subsidy households and $34-$186/month for low subsidy households. Costs reduced substantially once patients reached the annual pharmaceutical cap (safety net)...

Second Ethiopia Economic Update : Laying the Foundation for Achieving Middle Income Status

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Economic Updates and Modeling; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.02%
Over the past decade, Ethiopia has achieved high economic growth, averaging 10.7 percent per year. In 2012, Ethiopia was the 12th fastest growing economy in the World. If the country can continue its historically impressive growth performance, it could potentially reach middle income status by 2025. This, in turn, may require an adjustment in economic policy to phase in the private sector as an additional engine of growth. Moreover, Ethiopia needs to make progress on two related important fronts: enhancing domestic savings, and, resolving the bottlenecks of the trade logistics system. This Second Ethiopia economic update, prepared in collaboration with the Government of Ethiopia, offers policy guidance on how to move forward. Chapter one discusses Ethiopia's growth strategy, which emphasizes a strong expansion of public investment. This model has delivered impressive results, although the underlying macro policy mix highlights important challenges going forward suggesting that an adjustment to strategy may be warranted. One policy challenge relates to raising sufficient domestic savings to finance one of the highest public investment rates in the world...

Avoiding Middle-Income Growth Traps

Agénor, Pierre-Richard; Canuto, Otaviano; Jelenic, Michael
Fonte: Banco Mundial Publicador: Banco Mundial
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.07%
Since the 1950s, rapid growth has allowed a significant number of countries to reach middle-income status; yet, very few have made the additional leap needed to become high-income economies. Rather, many developing countries have become caught in what has been called a middle-income trap, characterized by a sharp deceleration in growth and in the pace of productivity increases. Drawing on the findings of a recently released working paper (Agenor and Canuto 2012), as well as a growing body of research on growth slowdowns, this note provides an analytical characterization of 'middle-income traps' as stable, low-growth economic equilibrium where talent is misallocated and innovation stagnates. To counteract middle-income traps, there are a number of public policies that governments can pursue, such as improving access to advanced infrastructure, enhancing the protection of property rights, and reforming labor markets to reduce rigidities all implemented within a context where technological learning and research and development (R&D) are central to enhancing innovation. Such policies not only explain why some economies particularly in East Asia were able to avoid the middle-income trap...

Uruguay : Income Transfer Policies in Uruguay, Closing the Gaps to Increase Welfare

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Social Protection Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.18%
Uruguay's Government is currently analyzing several reform strategies for the social sectors. These include a health reform, the introduction of a new poverty alleviation program, possible changes in pensions and unemployment insurance, and also a tax reform, that impacts the income transfer policies in several aspects. The purpose of this report is to contribute to the debate around the design of the income transfer policies for the medium and long term. The report is divided in five sections. Section two presents the conceptual discussion; section three describes the current policies, including an assessment of coverage, impacts, and fiscal effects. The fourth section presents a simulation to assess the potential impacts of the new Plan de Equidad, and the fifth section discusses conclusions and the central challenges for the future.

Diferenças de escolaridade e rendimento do trabalho nas regiões nordeste e sudeste do Brasil.; Differences of schooling and labor income in the northeast and southeast of Brazil.

Pereira, Dilson José de Sena
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Dissertação de Mestrado Formato: application/pdf
Publicado em 04/05/2001 PT
Relevância na Pesquisa
36.07%
O objetivo deste estudo é identificar e estimar a influência da escolaridade e outros fatores socioeconômicos no rendimento do trabalho no nordeste e sudeste do Brasil. Retornos a escolaridade, sexo, cor da pele e nível educacional dos pais foram estimados com ajustamento de quatros diferentes modelos econométricos: três regressões lineares múltiplas e um modelo de variável instrumental. Neste estudo foi utilizada amostra de 3.169 observações, selecionada da Pesquisa sobre Padrões de Vida 1996-1997 – PPV do IBGE. A seleção da amostra se deu através da imposição de algumas restrições aos microdados da PPV, sendo as principais: i) observações com rendimento do trabalho positivo; ii) de pessoas com 15 anos ou mais de idade que conheciam o nível educacional dos pais. O referencial teórico deste estudo é baseado na teoria do capital humano, com ênfase especial as contribuições de T. W. Schultz e Jacob Mincer. Os resultados encontrados são consistentes com os princípios propostos por Mincer. Em todas formulações o conjunto de variáveis mostrou-se relevante e o coeficiente de determinação satisfatório. A pesquisa aponta para a existência de uma relação positiva entre educação e rendimento do trabalho. As taxas de retornos estimadas para escolaridade variam de 12% a 19% e parecem plausíveis para o caso brasileiro. Como relação de causa e efeito...

Distribuição da renda e diferenças regionais no estado de São Paulo; Income distribution and regional differences in the state of São Paulo, Brazil

Rosycler Cristina Santos Simão
Fonte: Biblioteca Digital da Unicamp Publicador: Biblioteca Digital da Unicamp
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 13/02/2009 PT
Relevância na Pesquisa
36.01%
A partir da década de 1970, ocorreu um processo de desconcentração da industria no estado de São Paulo que beneficiou as regiões do interior do Estado, especialmente as regiões administrativas de Campinas, Sorocaba, São Jose dos Campos e Baixada Santista, que e denominado pela literatura regional de "interiorização do desenvolvimento". Dentro deste contexto regional, essa pesquisa analisa a distribuição de renda no Estado de São Paulo a partir da década de 1990, considerando dois aspectos: a desigualdade inter-regional e intra-regional. Outro objetivo do presente trabalho e estimar os efeitos dos fatores determinantes do rendimento no mercado de trabalho paulista, entre 1991 e 2000. De acordo com os Censos Demográficos de 1991 e 2000, os resultados da decomposição dos índices de T e L de Theil por regiões revelam que a desigualdade de renda entre regiões sofreu um declínio e, em grande parte, essa redução e uma consequencia da desconcentração produtiva sobre o mercado de trabalho do Estado. Entretanto, o principal componente da desigualdade paulista e o intra-regional. Os resultados da decomposição do índice de Gini mostram que dentro das regiões paulistas o rendimento gerado pelo setor terciário e o principal responsável pela desigualdade total. Usando dados da PNAD no período 1990-2007 e constatada uma tendência de queda da desigualdade paulista e também se observa uma tendência de redução da desigualdade inter-regional. Quanto aos fatores que determinam o rendimento entre os ocupados...

Actividade vitivinícola e rendimento na Ilha do Fogo em Cabo Verde

Fortes, Arlindo Rodrigues
Fonte: Instituto Superior de Economia e Gestão Publicador: Instituto Superior de Economia e Gestão
Tipo: Dissertação de Mestrado
Publicado em //2011 POR
Relevância na Pesquisa
36.01%
Mestrado em Desenvolvimento e Cooperação Internacional; A pobreza em Cabo Verde localiza-se sobretudo no meio rural, onde a agricultura assume a principal actividade económica, proporcionando ganhos reduzidos em virtude da utilização dos sistemas de produção tradicionais. As medidas da política levada a cabo pelo Ministério do Ambiente, do Desenvolvimento Rural, e dos Recursos Marinhos, sublinham a necessidade da criação e diversificação das actividades em meio rural e que possam proporcionar rendimentos aos agricultores. A presente dissertação tem como objectivo principal analisar de que forma o impacto da actividade vitivinícola teve como fonte geradora de rendimento adicional, bem como teve influência na condição de bem-estar dos produtores na ilha do Fogo. Trata-se de um "estudo de caso" cuja problemática assentou na discussão teórica da definição dos conceitos de pobreza, bem-estar, rendimento, cooperativismo e importância da agricultura no desenvolvimento. O trabalho centra a sua atenção nos agricultores das localidades de Chã das Caldeiras, da Achada Grande, Corvo e Relva. Na pesquisa empírica, para além da observação directa, a aplicação de um inquérito por questionário e a realização de entrevistas aos agricultores e outros agentes promotores do desenvolvimento importantes para a análise do tema...

Cardiovascular Inflammation in Healthy Women: Multilevel Associations with State-Level Prosperity, Productivity and Income Inequality

Ommerborn, Mark J; Huisingh, Carrie E; Clark, Cheryl; Ridker, Paul M.; Coull, Brent Andrew; Buring, Julie Elizabeth; Berkman, Lisa Faye
Fonte: BioMed Central Publicador: BioMed Central
Tipo: Artigo de Revista Científica
EN_US
Relevância na Pesquisa
36.02%
Background: Cardiovascular inflammation is a key contributor to the development of atherosclerosis and the prediction of cardiovascular events among healthy women. An emerging literature suggests biomarkers of inflammation vary by geography of residence at the state-level, and are associated with individual-level socioeconomic status. Associations between cardiovascular inflammation and state-level socioeconomic conditions have not been evaluated. The study objective is to estimate whether there are independent associations between state-level socioeconomic conditions and individual-level biomarkers of inflammation, in excess of individual-level income and clinical covariates among healthy women. Methods: The authors examined cross-sectional multilevel associations among state-level socioeconomic conditions, individual-level income, and biomarkers of inflammation among women (n = 26,029) in the Women's Health Study, a nation-wide cohort of healthy women free of cardiovascular diseases at enrollment. High sensitivity C-reactive protein (hsCRP), soluble intercellular adhesion molecule-1 (sICAM-1) and fibrinogen were measured between 1993 and 1996. Biomarker levels were examined among women within quartiles of state-level socioeconomic conditions and within categories of individual-level income. Results: The authors found that favorable state-level socioeconomic conditions were correlated with lower hsCRP...

Incentivizing Responsible Small-Dollar Lending in Low-Income Communities

Bansal, Megha
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Masters' project
Publicado em 20/04/2012 EN_US
Relevância na Pesquisa
36.01%
POLICY QUESTION: “Based on results of pilot programs and policies implemented in other parts of the country, how can New York City/State best support and incentivize responsible small-dollar lending in low-income communities?” RECOMMENDATION: Design a borrower’s card system to collect information about consumers’ borrowing and repayment behaviors, to encourage lenders to extend loans to low-income individuals in need, and to incentivize consumers to take ownership of their own financial behavior. PROBLEM STATEMENT: In many states, the payday lending market has operated to meet the strong consumer demand for short-term small-dollar loans. In the realm of small-dollar lending, the payday lending market provides access for low-income individuals who might be classified as higher risk consumers, likely due to blemished credit histories. Lenders compensate for this higher risk by charging a higher interest rate, which would allow for the possibility that the borrower does not repay the loan. However, though the payday lending market is competitive, significant information asymmetries exist for both the lender and the borrower, which leave lenders unable to discern between high-risk and low-risk consumers, and leave borrowers with an unclear understanding of the terms of the loans and often...

ANALYSIS OF THE RESIDUAL INCOME VALUATION AND ABNORMAL EARNINGS GROWTH MODELS: A PRACTICAL APPROACH USING ANALYSTS’ FORECASTS; ANÁLISE DOS MODELOS DE AVALIAÇÃO PELO LUCRO RESIDUAL E CRESCIMENTO ANORMAL DOS LUCROS: UMA ABORDAGEM PRÁTICA UTILIZANDO PROJEÇÕES DOS ANALISTAS

Almeida, José Elias Feres; Universidade Federal do Espírito Santo (UFES); Lima, Gerlando Augusto Sampaio Franco de; Universidade de São Paulo; Lima, Iran Siqueira; Universidade de São Paulo; Securato, José Roberto; Universidade de São Paulo
Fonte: UNIVERSIDADE FEDERAL DO PARANÁ - ACCOUNTING DEPARTMENT Publicador: UNIVERSIDADE FEDERAL DO PARANÁ - ACCOUNTING DEPARTMENT
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; Formato: application/pdf
Publicado em 10/05/2012 POR
Relevância na Pesquisa
36%
; This paper revisits two valuation models based on accounting figures: the Residual Income Valuation (RIV) and Abnormal Earnings Growth (AEG). Our research design has two approaches: i) we demonstrate theoretical integration of both models; and ii) we show in a practical manner that models converge to the same results based on real data of analysts forecast consensus. We apply statistical tests on empirical data from analyst’s forecasts available on Thomson One Analytics database. We use information of 45 firms listed on the IBovespa segment from BMF&BOVESPA in 2008 with historical data from 2003 to 2007 and analysts’ projections from 2003 to 2010. Our results do not show a significant mean difference of the valuations, but those from the RIV model are more dispersed than those produced by the AEG model. Furthermore, our results are consistent with international evidences and present additional evidences of application of valuation models based on accounting information in Brazil. Our findings support the use of valuation models based on accounting figures by analysts, investors, rating agencies and regulators to provide additional analyses of firm’s future prospects.