Banca de DEFESA: ALEF AUGUSTO ALVES DE ALMEIDA

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : ALEF AUGUSTO ALVES DE ALMEIDA
DATE: 30/10/2023
TIME: 09:00
LOCAL: Google Meet
TITLE:

Influence of ownership structure and executive compensation on the performance of Brazilian Real Estate Investment Funds

KEY WORDS:

Real Estate Investment Funds, Corporate Governance Mechanisms; Performance.

PAGES: 43
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUBÁREA: Ciências Contábeis
SUMMARY:

The current study had the purpose of investigating the effects of the ownership and compensation structures on the performance of Brazilian real estate investment funds. The data concerning both structures was obtained from periodic forms made available in the
Portal de Dados Abertos da Comissão de Valores Mobiliários (Portal of Open Data from the Brazilian Securities and Exchange Commission); the performance data was obtained in the periodic forms and the database from Economatica®, where 51 real estate investments funds that were continuously listed in the Brazilian Stock Exchange (B3) from 2017 to 2022 were analyzed. To accomplish these analyses and estimations, panel data regression models were used with the following variables: Market-to-book ratio, annual effective returns, and Jensen’s Alpha. Among the studies’ main results, one observes that there is a statistically significant relation between both structures with the funds’ performance, in contrast, when adjusting this relation by the investment risk, the ownership structure lost its statistical significance. Lastly, concerning the control variables, it was verified that the Net Operating Revenue and the Asset Size were positively associated with the funds’ performance.

COMMITTEE MEMBERS:
Presidente - 4966048 - RAIMUNDO MARCIANO DE FREITAS NETO
Externo ao Programa - 1802347 - VINICIO DE SOUZA E ALMEIDA - UFRNExterno à Instituição - DANIEL KNEBEL BAGGIO - UNIJUI