Banca de DEFESA: Tássio Araújo Vieira

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : Tássio Araújo Vieira
DATE: 09/03/2023
TIME: 09:00
LOCAL: Ambiente Virtual Teams
TITLE:

THE BRAZILIAN PRIVATE EQUITY INDUSTRY: MARKET TIMING FOR POST-IPO DIVESTMENT

KEY WORDS:

Private Equity; Venture Capital; Market Timing; Investment Funds.

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

This study aimed to analyze the companies invested by Private Equity and Venture Capital Investment Funds (PE/VC) that held IPO in Brazil between 2000 and 2020, specifically the period for total disinvestment (Market Timing), the behavior of stock prices and return delivered to investors. This is a descriptive, quantitative research that used as a database the information of Investment Funds and, mainly, of the 49 companies supported by PE/VC that progressed to the IPO and that it was possible to verify possible realization of total disinvestment. The results show that the companies Market Timing was approximately 2.7 years, in addition to the total disposal of shares held by the PE/VC Funds, the prices of the securities were above the prices in the IPO, and, finally, that the total divestments made by the PE/VC Funds after IPO resulted in positive abnormal returns to investors. Therefore, this study brings contributions to society and accounting science because it is innovative in terms of measuring the Market Timing of disinvestment of the PE/VC industry in Brazil, for trying to fill a gap in the internal literature and perhaps assisting researchers interested in delving into comparative studies conducted in other markets.

BANKING MEMBERS:
Externo à Instituição - ALEX MUSSOI RIBEIRO - UFSC
Presidente - 1451168 - DUCINELI REGIS BOTELHO
Interno - 1999345 - JOSE ALVES DANTAS