Revista Brasileira de Economia de Empresas

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Optimal Proportional Reinsurance and Dividend Pay-Out for Insurance Companies with Switching Reserves

This paper presents a model for an insurance company that controls its risk and dividend payout. The financial reserve of this company is modeled as an Ito process with positive drift. While the diffusion coefficient can be interpreted as the risk exposure, the drift can be understood as the potential profit. The new feature of this paper is to consider that the potential profit and risk exposure of this company depends on the dynamic state of the economy. Thus, in order to take into account ...

Optimal Investment Allocation Under Embodiment in a Two Sector Model

In this paper the impact of investment specific technological progress on investment allocation is studied by using a two sector model that takes into account investment specific technological progress. The aim of the paper is to analyze the optimal allocation of capital goods and to revisit the recent controversy on the structural change played by the Information and Communication Technology-growth enhancing role.

Potencial Anticompetitivo Da Fusã£O Oi-Brt: Uma Anã¡Lise Usando Retornos Anormais E Estudo de Eventos

This paper tries to investigate the likely effect s of one of the most discussed telecom mergers in Brazil: the BrT-Oi operation. This analysis was carried out in accordance to the event study methodology in Eckbo (1983) and Hosken and Simpson (1998) and the results indicate the merger implied greater competition with the maverick competitors in fixed line operations - especially GVT-and lower competition with the established competitors in mobile market (TIM and VIVO).

Regulação E Desempenho Do Setor Aéreo Comercial Brasileiro1

Several Brazilian airlines closed their activities in this decade. This study raises some doubts about the positive role of (de) regulation in the aviation sector. Then, it investigates the relationship between some phases of regulation during 1975 to 2005 and the performance of the aviation sector, taking into account the return on assets (ROA) of companies such as VARIG, TAM e GOL. The results show evidences that the ROA is negatively related to the regulation in the nineties and also to th...

How Does Corruption Drive Illegal Deforestation in Amazon Forest?

The resent policy imposes heavier penalties and closer surveillance to individuals engaged in illegal deforestation. This paper disputes the alleged effects of this policy. A new variable is added to the problem, the corrupt behavior. An analysis is made of how information asymmetry between the government and the official in charge of inspection may affect deforestation. By using Agency Theory, a simultaneous static game of complete/perfect information between the landowner and the official i...