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Modelos de análise de sobrevivência aplicados ao estudo do comportamento de retorno do doador de sangue; Survival Analysis Models applied to the Study of Blood Donor Return Behavior.

Lourençon, Adriana de Fatima
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 20/09/2007 Português
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Notícias de escassez no mundo inteiro, dada a crescente demanda e o rigor na triagem clínica, levaram a necessidade de investigar métodos que mensurem o comportamento de retorno do doador de sangue, sobretudo o indivíduo que manifesta a intenção voluntária em doar. Curvas de Sobrevivência entre outros métodos estatísticos são amplamente estudados na literatura com o intuito de obter uma estimativa da chance de um doador vir a realizar uma subseqüente doação, associado ao seu perfil. O objetivo do presente estudo é identificar modelos estatísticos capazes de descrever esse comportamento utilizan do os registros do Centro Regional de Hemoterapia de Ribeirão Preto. A cons trução de modelos de longa-duração, por exemplo, pode ser um meio de evidenciar possíveis subgrupos mais propensos a retornar, além de estimar a proporção de doadores que jamais retornarão. Entre os resultados, obser vamos que apenas 40% dos doadores voluntários retornaram após um ano decorrido da primeira doação, e 20% destes jamais retornarão. O ajuste do modelo longaduração possibilitou ainda indicar alguns subgrupos de doadores prováveis e improváveis de retornar, porém tais resultados reforçam as evidências de que a motivação intrínseca é o que leva o individuo a retornar.; Reports of worldwide shortages due the increased demand and rigor of clinical screening have led to the necessity to investigate methods that measure blood donor return behavior...

Do transnational links matter after return? Labour market participation among Ghanaian return migrants

Setrana, Mary Boatemaa; Tonah, Steve
Fonte: Centro de Estudos Internacionais do Instituto Universitário de Lisboa (ISCTE-IUL) Publicador: Centro de Estudos Internacionais do Instituto Universitário de Lisboa (ISCTE-IUL)
Tipo: Parte de Livro
Publicado em //2014 Português
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Previous studies on transnationalism have looked at ‘remittances’ and ‘short-term visits’ to the home community and its transformational impact. However, little attention has been given to how transnational links enable return migrants to economically reintegrate into the home community. Although transnationalism describes return migration as a circular movement, there is still evidence of permanent return. Using Ghana as an example, this paper examines the conditions, strategies, assets and labour participation of return migrants. The study employed both qualitative and quantitative methods in investigating its set objectives. The study found that for wage employed returnees, maintaining professional contacts abroad is a key factor in ensuring their sustenance in the local and global job market. On the other hand, having investments abroad is important for self-employed returnees to sustain their return. The paper suggests that in order to promote national development and enhance national competitiveness in a globalizing world, Ghana needs to strengthen both its educational and business sectors. With this goal in mind, Ghana needs to encourage collaboration amongst its residents abroad and encourage opportunities for the sharing of knowledge and expertise.

Return Migration, Self-Selection and Entrepreneurship in Mozambique

Batista, Catia; McIndoe-Calder, Tara; Vicente, Pedro
Fonte: Nova SBE Publicador: Nova SBE
Tipo: Outros
Publicado em /05/2014 Português
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Does return migration affect entrepreneurship? This question has important implications for the debate on the economic development effects of migration for origin countries. The existing literature has, however, not addressed how the estimation of the impact of return migration on entrepreneurship is affected by double unobservable migrant self-selection, both at the initial outward migration and at the final inward return migration stages. This paper uses a representative household survey conducted in Mozambique in order to address this research question. We exploit variation provided by displacement caused by civil war in Mozambique, as well as social unrest and other shocks in migrant destination countries. The results lend support to negative unobservable self-selection at both and each of the initial and return stages of migration, which results in an under-estimation of the effects of return migration on entrepreneurial outcomes when using a ‘naïve’ estimator not controlling for self-selection. Indeed, ‘naïve’ estimates point to a 13 pp increase in the probability of owning a business when there is a return migrant in the household relative to non-migrants only, whereas excluding the double effect of unobservable self-selection...

Productivity gains from migration: An analysis of Cape Verdean return migrants

Rodrigues, Guilherme
Fonte: Universidade Nova de Lisboa Publicador: Universidade Nova de Lisboa
Tipo: Dissertação de Mestrado
Publicado em /01/2015 Português
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Are return migrants more productive than non-migrants? If so, is it a causal effect or simply self-selection? Existing literature has not reached a consensus on the role of return migration for origin countries. To answer these research questions, an empirical analysis was performed based on household data collected in Cape Verde. One of the most common identification problems in the migration literature is the presence of migrant self-selection. In order to disentangle potential selection bias, we use instrumental variable estimation using variation provided by unemployment rates in migrant destination countries, which is compared with OLS and Nearest Neighbor Matching (NNM) methods. The results using the instrumental variable approach provide evidence of labour income gains due to return migration, while OLS underestimates the coefficient of interest. This bias points towards negative self-selection of return migrants on unobserved characteristics, although the different estimates cannot be distinguished statistically. Interestingly, migration duration and occupational changes after migration do not seem to influence post-migration income. There is weak evidence that return migrants from the United States have higher income gains caused by migration than the ones who returned from Portugal.

Is Formal Lifelong Learning a Profitable Investment for All of Life? How Age, Education Level, and Flexibility of Provision Affect Rates of Return to Adult Education in Colombia

Sohnesen, Thomas Pave; Blom, Andreas
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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Lifelong learning is increasingly being recognized as a primary factor for knowledge diffusion and productivity growth. However, little economic evidence exists on the economic value of lifelong learning for the individual, especially in developing countries. This paper contributes to remedy this shortfall. It investigates one aspect of lifelong learning: returns to formal education across ages. In the absence of long-term longitudinal data, the paper estimates rates of return for simulated re-entry into the education system. The estimations use the method of internal rate of return and are based on observed education-age-earnings profiles from the Colombian national household survey. It finds that rates of return to all levels of education are only slightly smaller for 35 year olds than for young people, thus confirming the profitability of investment in adult education. Tertiary education continues to attract a positive return until late in life, 45-50 years, whereas the economic value of re-entering primary and secondary education is positive up till the age of 40-45. So, formal lifelong learning seems to remain a profitable investment for at least half of life. But lack of part-time work, high tuition fees, and prolonged study time reduce the return. The findings suggest that adult formal education initiatives should focus on the 20 to 40 year olds and be designed flexibly to allow learners to work part time.

The Social Rate of Return on Infrastructure Investments

Canning, David; Bennathan, Esra
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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The authors estimate social rates of return to electricity-generating capacity and paved roads, relative to the return on general capital, by examining the effect on aggregate output and comparing that effect with the costs of construction. They find that both types of infrastructure capital are highly complementary with other physical capital and human capital, but have rapidly diminishing returns if increased in isolation. The complementarities on the one hand, and diminishing returns on the other, point to the existence of an optimal mix of capital inputs, making it very easy for a country to have too much - or too little - infrastructure. For policy purposes, the authors compare the rate of return for investing in infrastructure with the estimated rate of return to capital. The strong complementarity between physical and human capital, and the lower prices of investment goods in industrial economies, means that the rate of return to capital as a whole is just as high in rich countries as in the poorest countries but is highest in the middle-income (per capita) countries. In most countries the rates of return to both electricity-generating capacity and paved roads are on a par with...

Intentions to Return : Evidence from Romanian Migrants

Hinks, Tim; Davies, Simon
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Português
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Romania faces an acute population crisis with an aging workforce and an increased number of emigrants particularly from the young, highly educated/skilled population. This paper uses a new cross-sectional data set of Romanian emigrants to find which factors are related to plans to return home permanently. The analysis pays particular attention to differences in expected earnings and skills and training acquired as a migrant. The study finds that higher expected earnings in Romania and investment in Romanian firms are positively correlated with plans to return migrate. Policies that boost productivity and therefore wages as well as policies that improve the business climate could therefore encourage Romanian migrants to return to Romania, moderating the negative consequences of the declining and aging population, and increasing the skill stock of the Romanian labor force.

The estimation of the rate of return to education in China: an empirical analysis using instrument variable estimation with months of birth and its Issues

Cowling, Michael Leith
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Thesis (Honours)
Português
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Any attempt to estimate the rate of return to education using ordinary least squares (OLS) models suffers from omitted variable bias due to unobservable factors that are correlated with both the education variable and the return dependent variable. Instrument Variables, such as the birth months of students, provide an alternative estimation method that can create less biased estimates. The validity of the birth months as instrument variables depends on being uncorrelated with individual personal attributes while having an effect on the education outcome of the individual. However, the exogenous criterion is violated if unobservable factors influences the month of birth and education outcome creating the omitted variable bias problem. We investigate if the birth month is a good instrument for use in estimating the rate of return to education using empirical evidence from the 2000 Chinese Population Census and the 2009 Chinese Urban Household Income and Expenditure Survey. We split the sample into two groups, individuals with rural education and individuals with urban education due to an urban/rural education gap that the literature captures. A Two Stage Least Squares Model (TSLS) is run to estimate the rate of return to education and to determine if the instrument birth month variables are strong instruments. We also run an OLS model to compare the OLS rate of return to education with the TSLS estimates. We use the parent’s education level as a proxy for socioeconomic status and investigate if there is a violation of the exclusion restriction for the birth month instruments. We find students born after August typically achieving a higher education level on average than students born in the August and months before August. In addition...

A Comparative Study of Return Migration Policies Targeting the Highly Skilled in Four Major Sending Countries

JONKERS, Koen
Fonte: Instituto Universitário Europeu Publicador: Instituto Universitário Europeu
Tipo: Relatório Formato: application/pdf; digital
Português
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This report is an attempt to provide a provisional comparative analysis of policies implemented in China, India, Argentina, and Mexico to facilitate the return of highly skilled expatriates and their professional reintegration. These countries differ in terms of the outbound and return flows of highly skilled professionals, as well as in the timing and intensity of the programs they have implemented. In general, career or business opportunities, and hence the offer of a conducive professional and socio-economic environment are central to attracting returnees. Migrant networks, temporary and permanent return migration programs exist in various forms and, apart from having their own merits, can complement each other in facilitating the return migration process. A long term, pluralistic and systemic approach, which in parallel to offering incentives involves the removal of administrative barriers, is considered to be important in bringing back and successfully reintegrating large numbers of highly skilled expatriates.; Collective Action to Support the Reintegration of Return Migrants in their Country of Origin (MIREM)

Mapping the Return Migration Research Field

Cairns, David; Sardinha, João; Tiesler, Nina Clara
Fonte: CIES-IUL Publicador: CIES-IUL
Tipo: Trabalho em Andamento
Publicado em //2014 Português
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This working paper presents an overview of recent literature on the theme of return migration, with particularly emphasis on works of relevance to our understanding of this topic in a contemporary Portuguese migration context. The discussion integrates insights and perspectives from empirically-informed studies with more long-standing theoretical ideas relating to return migration utilizing the idea of ‘generation’. Added to this is emphasis upon the role of social ties in understanding return migration, in particular family relationships, as well as an appreciation of the mythological dimension of the drivers behind return population flows. Also highlighted is a lack of consideration of structural factors in studies, most prominently socio-economic change, a factor which has special significance for present day return migrants in the Portuguese context.

Institutions and Firms' Return to Innovation : Evidence from the World Bank Enterprise Survey

Nguyen, Ha; Jaramillo, Patricio A.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
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This paper poses a question: do firms in developing countries not innovate because they are unwilling to? The question moves away from the conventional focus on the obstacles (such as the lack of access to finance) that hinder firms' innovation ability. The World Bank's Enterprise Survey is used first to estimate the return to firms' innovation across many developing countries, in terms of sales and sales per worker. Then the return to innovation is compared across countries with different levels of institutional quality. In countries with lower institutional quality (specifically, rule of law, regulatory quality, property and patent right protection), the return to firms' innovation is lower. This suggests that poor institutional environment lowers firms' return to innovation and hence discourages them from investing in researching and adopting new products.

Evaluating outcomes of a return-to-work rehabilitation program for patients with work-related low back pain

Mngoma, Nomusa F.
Fonte: Quens University Publicador: Quens University
Tipo: Tese de Doutorado Formato: 1970553 bytes; application/pdf
Português
Relevância na Pesquisa
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Purpose: The overall aim of this thesis is to contribute new knowledge by examining psychosocial factors and return-to-work profiles of occupational low back pain patients in a rehabilitation clinic. Outcome measures for injured workers with subacute low back pain included: change in measures, program utilization, pain profiles and return-to-work. Methods: A total of 147 patients who met the eligibility criteria and consented, participated in a clinic-based, individualized, exercise-based treatment that included patient education and reassurance. A before-and-after design was used, with data collection on admission to and discharge from the program. Results: Pre-to-post analyses revealed that statistically significant improvements had occurred. However, subgroup analyses revealed differences in responses to treatment among the subgroups. Specifically, two sets of cluster analyses were conducted; each yielded two distinct subgroups of patients, one set with different lengths of time in the program, and another showing two pain intensity profiles. Furthermore, return-to-work rates varied between the groups although the overall return-to-work rate appeared high. Conclusion: Significant improvement was achieved following participation in the return-to-work rehabilitation program. However...

Materia em movimento : a ilusão do tempo e o eterno retorno; Moving matter : the illusion of time and the eternal return

Regina Helena Sarpa Schopke
Fonte: Biblioteca Digital da Unicamp Publicador: Biblioteca Digital da Unicamp
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 10/08/2007 Português
Relevância na Pesquisa
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O mundo do eterno retorno é o mundo do devir, o mundo da diferença. Nesse sentido, estamos plenamente de acordo com a perspectiva deleuziana do eterno retorno de Nietzsche como retorno de um ser pensado como diferença pura. No entanto, para nós, devir quer dizer 'matéria em movimento' e não tempo, o que, de certa forma, descentra completamente a questão. Se o tempo é mesmo um enigma, seja no interior do eterno retorno, seja em qualquer outra concepção, é porque sua própria natureza é paradoxal (isto é, num certo sentido ele existe, embora não exista como algo em si). Nosso trabalho, portanto, tem um duplo objetivo: o primeiro, é refletir sobre o próprio tempo (e, para tal, mergulhamos no pensamento de vários filósofos, e também um pouco na física, para saber de que modo ele tem sido pensado); o segundo, diz respeito ao tempo no interior do eterno retorno, pois é aqui que ele atinge o seu ponto máximo de obscuridade. De fato, é inegável que Cronos sempre despertou nos homens um misto de fascínio e horror - e isso porque, independente de como ele seja entendido, é impossível desligá-lo de sua relação profunda com a existência: eis o seu caráter verdadeiramente trágico.; The eternal return world is the world of the becoming...

Preventing Return of Fear in an Animal Model of Anxiety: Additive Effects of Massive Extinction and Extinction in Multiple Contexts

Miller, Ralph R.; Laborda Rojas, Mario Arturo
Fonte: Behavior Therapy 44 (2013) 249–261 Publicador: Behavior Therapy 44 (2013) 249–261
Tipo: Artículo de revista
Português
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Artículo de publicación ISI; Fear conditioning and experimental extinction have been presented as models of anxiety disorders and exposure therapy, respectively. Moreover, the return of fear serves as a model of relapse after exposure therapy. Here we present two experiments, with rats as subjects in a lick suppression preparation, in which we assessed the additive effects of two different treatments to attenuate the return of fear. First, we evaluated whether two phenomena known to generate return of fear (i.e., spontaneous recovery and renewal) summate to produce a stronger reappearance of extinguished fear. At test, rats evaluated outside the extinction context following a long delay after extinction (i.e., a delayed context shift) exhibited greater return of extinguished fear than rats evaluated outside the extinction context alone, but return of extinguished fear following a delayed context shift did not significantly differ from the return of fear elicited in rats tested following a long delay after extinction alone. Additionally, extinction in multiple contexts and a massive extinction treatment each attenuated the strong return of fear produced by a delayed context shift. Moreover, the conjoint action of these treatments was significantly more successful in preventing the reappearance of extinguished fear...

The effectiveness of cognitive work hardening in preparing people with depression to return to work

Wisenthal, ADEENA
Fonte: Quens University Publicador: Quens University
Tipo: Tese de Doutorado
Português
Relevância na Pesquisa
36.61%
RATIONALE: Work absences due to depression are prevalent, suggesting the need for interventions addressing the challenges facing people returning to work following depression. Few such interventions have been developed and evaluated. Cognitive work hardening is a return-to-work intervention for people on mental health disability leaves. Anecdotal evidence supports its use for individuals returning to work following a depressive episode; however, it has not been systematically evaluated. OBJECTIVES: This research aimed to: 1) examine the theoretical underpinnings of cognitive work hardening; 2) test the effectiveness of cognitive work hardening in preparing people to return to work following a depressive episode; and 3) identify key elements of cognitive work hardening based on participants’ experiences. METHODS: Intervention mapping was used to analyze cognitive work hardening by deconstructing it into fundamental elements and theoretical underpinnings including occupational therapy models. Intervention effectiveness was assessed with a single group (n = 21) pre-post study design. Participants reported their return to work readiness using work ability, fatigue, and depression measures. Participants shared their experience at intervention completion and at 3-month follow-up. Work status and sense of well-being were also reported at follow-up. RESULTS: The Person-Environment-Occupation (PEO) Model...

Obstacles to Return-to-Work Questionnaire : adaptação cultural e avaliação das qualidades psicométricas no contexto brasileiro; "Obstacles to Return-to-Work Questionnaire" : cross-cultural adaptation and psychometric properties evaluation in a Brazilian context

Daniela Milani
Fonte: Biblioteca Digital da Unicamp Publicador: Biblioteca Digital da Unicamp
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 31/07/2015 Português
Relevância na Pesquisa
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Introdução: Distúrbios osteomusculares estão entre os principais responsáveis pela incapacidade para o trabalho, pelo absenteísmo e pelos altos custos com o pagamento de indenizações. Muitos trabalhadores, quando são afastados do trabalho, apresentam dificuldades para retornar às atividades laborais. Desta forma, entender e avaliar os obstáculos para retorno ao trabalho é importante no sentido de auxiliar esses trabalhadores a encontrar estratégias de enfrentamento para que possam se adaptar novamente ao trabalho. Os raros questionários sobre retorno ao trabalho são puramente físicos e/ou psicológicos e dificilmente abrangem questões relativas ao ambiente laboral. O Obstacles to Return-to-Work Questionnaire (ORTWQ) foi desenvolvido na Suécia, é multidimensional, inclui fatores biopsicossociais, ambientais e tem se mostrado um bom preditor de afastamento ao trabalho devido a doenças. Objetivos: adaptar culturalmente o ORTWQ para o contexto brasileiro e avaliar as suas propriedades psicométricas em trabalhadores afastados do trabalho devido a distúrbios osteomusculares. Métodos: O processo de adaptação cultural seguiu cinco etapas: tradução, síntese, retrotradução, avaliação por comitê de especialistas...

Mobilities and embodied transnational practices : an ethnography of return(s) and other intersections between China and Spain

Masdeu, Irene
Fonte: [Barcelona] : Universitat Autònoma de Barcelona, Publicador: [Barcelona] : Universitat Autònoma de Barcelona,
Tipo: Tesis i dissertacions electròniques; info:eu-repo/semantics/doctoralThesis; info:eu-repo/semantics/publishedVersion Formato: application/pdf
Publicado em //2015 Português
Relevância na Pesquisa
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Aquesta investigació té com a objectiu analitzar els vincles transnacionals i les pràctiques de retorn de les persones xineses que viuen a l'Estat espanyol des d'una perspectiva intergeneracional. L'estudi consisteix en una etnografia centrada a Qingtian, a la provincial de Zhejiang, que és el lloc de procedència de bona part dels xinesos que resideixen a l'Estat Espanyol. Aquesta tesis analitza els moviments de retorn tenint en compte la diversitat de pràctiques transnacionals entre Xina i l'estat Espanyol que perfilen la vida diària dels migrants procedents de Qingtian. Aquesta investigació no conceptualitza el retorn com una realitat aïllada i desvinculada d'altres pràctiques socials, sinó que s'aproxima a aquest fenomen a través de l'estudi d'altres formes de mobilitat i pràctiques transnacionals. Per això, l'etnografia no es centra únicament en els moviments, les trajectòries i experiències dels retornats, sinó que adopta una perspectiva relacional per tal d'explorar el rol de diferents actors social, de diferents espais i moviments en els actuals processos de migració. Per tal de d'assolir aquest objectiu s'ha desenvolupat un model analític que inclou les diferents pràctiques transnacionals en funció del seu grau de materialització física: des dels moviments de persones (visites...

A relação entre o retorno das ações e as métricas de desempenho: evidências empíricas para as companhias abertas no brasil; La relación entre el retorno de las acciones y las métricas de desempeño: evidencias empíricas para las compañías abiertas en brasil; The relationship between stock return and metrics of performance: empirical evidences for companies in brazil

Bastos, Douglas Dias; Nakamura, Wilson Toshiro; David, Marcelino; Rotta, Uriel Antonio Superti
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; ; ; ; ; ; Formato: application/pdf
Publicado em 01/09/2009 Português
Relevância na Pesquisa
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Busca-se, neste estudo, verificar a relação entre o retorno das ações, mensurado pelo retorno ajustado ao mercado da ação, e quatro métricas de desempenho - Lucro por Ação, Retorno sobre o Investimento, Valor Econômico Adicionado (EVA®) e Fluxo de Caixa Operacional - amplamente utilizadas pelas empresas e pelo mercado. Em uma amostra de 93 companhias abertas não financeiras que atuam no Brasil, analisada no período entre 2001 e 2007, utilizaram-se três técnicas econométricas: Regressão Linear Cross-Section, Dados em Painel (Pooled) com heterocedasticidade corrigida e Dados em Painel com Efeitos Aleatórios. O estudo procura testar as hipóteses sobre a importância dos indicadores de desempenho na criação de valor para o acionista e a relevância do EVA® comparativamente a outras métricas. De forma geral, os resultados indicam um baixo poder de explicação das variáveis independentes sobre o retorno ajustado ao mercado. O indicador de desempenho que obteve os melhores resultados foi o Fluxo de Caixa Operacional, seguido do Retorno sobre o Investimento e do Lucro por ação. O EVA® apresentou o pior resultado, rejeitando a hipótese sobre a superioridade desta medida de desempenho que considera o custo de capital na análise de criação de valor.; Se busca...

GOOD CORPORATE GOVERNANCE PRACTICES IN BRAZILIAN COMPANIES AND THE RISK-RETURN DILEMMA; BOAS PRÁTICAS DE GOVERNANÇA CORPORATIVA NAS EMPRESAS BRASILEIRAS E O DILEMA RISCO-RETORNO

Holanda, Allan Pinheiro; Ponte, Vera Maria Rodrigues; Professora da Universidade Federal do Ceará - UFC
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 21/10/2011 Português
Relevância na Pesquisa
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 Ao aderir às boas práticas de governança corporativa, as empresas conseguem usufruir de um conjunto de benefícios, dentre os quais se destaca a diminuição do risco. Desse modo, com base no dilema risco-retorno, os investidores exigiriam menores retornos das empresas com menores riscos. A pesquisa que deu origem ao presente artigo teve como objetivo investigar a relação existente entre a adesão às boas práticas de governança corporativa, o risco e o retorno. Parte-se da hipótese de que as empresas com maior adesão às boas práticas de governança corporativa apresentam menor risco e menor retorno. Trata-se de pesquisa exploratória e descritiva, que adotou procedimentos bibliográficos e documentais e de natureza quantitativa, reunindo uma amostra de 266 empresas brasileiras listadas na BM&FBovespa no ano 2009. As variáveis risco e retorno foram mensuradas, respectivamente, pelo desvio-padrão do Lucro Antes dos Juros e Impostos (EBIT) sobre o Ativo Total e pelo retorno sobre o Patrimônio Líquido inicial, ambos obtidos na base de dados do software Economática®. Já quanto à variável governança corporativa...

Revisiting the relationship between different financial risk measures and the market return on ordinary shares in South Africa

du Toit,Elda
Fonte: South African Journal of Economic and Management Sciences Publicador: South African Journal of Economic and Management Sciences
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/01/2015 Português
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The main aim of this study was to test whether there is a positive relationship between different financial risk measures and the expected return of a share. This study was performed in 1995 by Brummer and Wolmarans, who obtained results contrary to those of a similar study in the United States of America in 1988. The reasons for the difference were not established. This study follows up the one by Brummer and Wolmarans to determine whether the passing of 19 years could have brought about any difference in the results. This process was initiated by testing a set of variables from a sample size of 107 JSE-listed companies from 2002 to 2012 for linearity. As there was no such linear relationship between any of the variables, no assumptions can be made about any relationship between share return and the risk measures tested here. If investors were risk averse, one would expect a positive relationship between different financial risk measures and the expected return of a share. This is not the case in the South African market.