Banca de QUALIFICAÇÃO: MATHEUS SOUZA SILVA

Uma banca de QUALIFICAÇÃO de MESTRADO foi cadastrada pelo programa.
STUDENT : MATHEUS SOUZA SILVA
DATE: 02/12/2024
TIME: 14:30
LOCAL: VIDEOCONFERÊNCIA
TITLE:

Value Dynamics: The Effect of Capital Structure and Dividend Policy on the Utilities Sector in Emerging Markets

KEY WORDS:

Capital Structure, Dividend Policy, Market Value, Financial Leverage, Macroeconomic Variables

PAGES: 87
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:

This study explores the influence of capital structure and dividend policy on the market value of Utilities sector companies in emerging markets, focusing on the BRICS from 2018 to 2023. The research seeks to address gaps in financial literature, which typically concentrates on developed, more stable, and predictable markets. In contrast, emerging markets face challenges such as high volatility, weak governance, and dependence on external capital, factors that may impact the effectiveness of traditional financial strategies. The sample comprises 266 companies, with data sourced from the Eikon Refinitiv platform, supplemented by annual reports and stock exchange filings. The methodology includes a quantitative, descriptive, and explanatory approach, with econometric modeling to analyze the relationship between financial leverage, dividend policy, and market value. The study also considers the impact of regional macroeconomic variables, such as inflation and GDP, and follows a hypothetical-deductive approach. Capital structure and dividend policy are viewed as critical factors for market value, especially in the riskier contexts typical of emerging markets. The analyzed period includes significant economic events, allowing an assessment of companies' resilience in these contexts against external shocks. The study's findings are expected to be relevant both for academia, by providing insights into the application of traditional financial theories in emerging environments, and for managers and policymakers, by offering guidelines to adapt financial practices to the specific characteristics of these markets.

COMMITTEE MEMBERS:
Presidente - 1561014 - ADILSON DE LIMA TAVARES
Interno - 3220688 - ALEXANDRO BARBOSA
Externo à Instituição - LAURO VINÍCIO DE ALMEIDA LIMA - UFPB