No dia 22 de fevereiro, às 15h30, a Profa. Dra. Maria Paula Vieira Cicogna apresentará o seminário The Correlation Effect betweenCommodity Prices and Exchange Rate for Brazilian Firms’ Balance Sheets. O evento é gratuito e não é necessária inscrição para participar.
Confira as informações:
Data: 22 de fevereiro
Horário: 15h30
Local: Sala 30, Bloco A, FEARP
Resumo: This paper shows that exchange rate depreciation has a negative effect on the balance sheet of Brazilian companies with foreign indebtedness; this effect stems mainly from the negative correlation between the exchange rate and international commodity prices. While the face value of liabilities increased in proportion to the exchange rate during the period studied, revenues from exporting companies did not increase in the same proportion, since most exporting companies in Brazil are commodity producers. Therefore, the hedge expected by exporting companies’ receivables is less effective than expected.