ABSTRACT Context: adoption of International Financial Reporting Standards (IFRS) in Brazil has improved corporate governance practices and information available to investors, providing greater transpa
We assume a model in which a firm's indebtedness is strongly influenced by a fund's supply side because creditors and investors (users of CAPM and market multiples) assess their exposure and risk leve
ABSTRACT Purpose: To study the Brazilian bond and stock markets for testing the stock market development theory of Demirgüc-Kunt and Maksimovic (1996). Originality/gap/relevance/implications: This pap