{"id":"https://openalex.org/W2109054201","doi":"https://doi.org/10.5380/rcc.v3i1.21489","title":"THE FINANCIAL LEVERAGE AND THE EFFECTS ON BETA: A STUDY OF THE STEEL\u2019S AND METALLURGY\u2019S COMPANIES LISTED ON BM&FBOVESPA","display_name":"THE FINANCIAL LEVERAGE AND THE EFFECTS ON BETA: A STUDY OF THE STEEL\u2019S AND METALLURGY\u2019S COMPANIES LISTED ON BM&FBOVESPA","publication_year":2011,"publication_date":"2011-05-09","ids":{"openalex":"https://openalex.org/W2109054201","doi":"https://doi.org/10.5380/rcc.v3i1.21489","mag":"2109054201"},"language":"pt","primary_location":{"id":"doi:10.5380/rcc.v3i1.21489","doi":"https://doi.org/10.5380/rcc.v3i1.21489","is_oa":true,"landing_page_url":"https://doi.org/10.5380/rcc.v3i1.21489","pdf_url":"https://revistas.ufpr.br/rcc/article/download/21489/14139","source":{"id":"https://openalex.org/S4210222395","display_name":"RC&C Revista de Contabilidade e Controladoria","issn_l":"1984-6266","issn":["1984-6266"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-4"],"host_organization":"https://openalex.org/P4310312455","host_organization_name":"Universidade Federal do Paran\u00e1","host_organization_lineage":["https://openalex.org/P4310312455"],"host_organization_lineage_names":["Universidade Federal do Paran\u00e1"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Revista Contabilidade e Controladoria","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://revistas.ufpr.br/rcc/article/download/21489/14139","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5030470192","display_name":"L\u00e9o Raifur","orcid":"https://orcid.org/0000-0001-8859-7427","observed_orcids":["https://orcid.org/0000-0001-8859-7427"]},"institutions":[{"id":"https://openalex.org/I17974374","display_name":"Universidade de S\u00e3o Paulo","ror":"https://ror.org/036rp1748","country_code":"BR","type":"education","lineage":["https://openalex.org/I17974374"]}],"countries":["BR"],"is_corresponding":false,"raw_author_name":"L\u00e9o Raifur","raw_affiliation_strings":["Universidade de S\u00e3o Paulo","Universidade de Sao Paulo#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universidade de S\u00e3o Paulo","institution_ids":["https://openalex.org/I17974374"]},{"raw_affiliation_string":"Universidade de Sao Paulo#TAB#","institution_ids":["https://openalex.org/I17974374"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5035085675","display_name":"Almir Ferreira de Souza","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I17974374","display_name":"Universidade de S\u00e3o Paulo","ror":"https://ror.org/036rp1748","country_code":"BR","type":"education","lineage":["https://openalex.org/I17974374"]}],"countries":["BR"],"is_corresponding":false,"raw_author_name":"Almir Ferreira de Souza","raw_affiliation_strings":["Universidade de S\u00e3o Paulo","Universidade de Sao Paulo#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universidade de S\u00e3o Paulo","institution_ids":["https://openalex.org/I17974374"]},{"raw_affiliation_string":"Universidade de Sao Paulo#TAB#","institution_ids":["https://openalex.org/I17974374"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I17974374"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":"3","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.48730000853538513,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.48730000853538513,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.3621000051498413,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.09690000116825104,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.9980000257492065},{"id":"https://openalex.org/keywords/beta","display_name":"beta","score":0.7110000252723694},{"id":"https://openalex.org/keywords/systematic-risk","display_name":"systematic risk","score":0.7570000290870667},{"id":"https://openalex.org/keywords/total-risk","display_name":"total risk","score":0.7910000085830688},{"id":"https://openalex.org/keywords/bm-fbovespa","display_name":"BM&FBOVESPA","score":0.8529999852180481},{"id":"https://openalex.org/keywords/ibovespa","display_name":"Bovespa","score":0.7269999980926514},{"id":"https://openalex.org/keywords/s-p-500","display_name":"S&P 500","score":0.9670000076293945},{"id":"https://openalex.org/keywords/firm-specific-risk","display_name":"firm-specific risk","score":0.4320000112056732},{"id":"https://openalex.org/keywords/brazilian-listed-firms","display_name":"Brazilian listed companies","score":0.5360000133514404}],"concepts":[{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.4626513421535492},{"id":"https://openalex.org/C2776174256","wikidata":"https://www.wikidata.org/wiki/Q830842","display_name":"BETA (programming language)","level":2,"score":0.43540000915527344},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3742085099220276},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3601887822151184},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.33074283599853516},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.22316455841064453},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.13047128915786743},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.5380/rcc.v3i1.21489","doi":"https://doi.org/10.5380/rcc.v3i1.21489","is_oa":true,"landing_page_url":"https://doi.org/10.5380/rcc.v3i1.21489","pdf_url":"https://revistas.ufpr.br/rcc/article/download/21489/14139","source":{"id":"https://openalex.org/S4210222395","display_name":"RC&C Revista de Contabilidade e Controladoria","issn_l":"1984-6266","issn":["1984-6266"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-4"],"host_organization":"https://openalex.org/P4310312455","host_organization_name":"Universidade Federal do Paran\u00e1","host_organization_lineage":["https://openalex.org/P4310312455"],"host_organization_lineage_names":["Universidade Federal do Paran\u00e1"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Revista Contabilidade e Controladoria","raw_type":"journal-article"},{"id":"mag:2332165956","doi":null,"is_oa":false,"landing_page_url":"https://revistas.ufpr.br/rcc/article/download/21489/14139","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"doi:10.5380/rcc.v3i1.21489","doi":"https://doi.org/10.5380/rcc.v3i1.21489","is_oa":true,"landing_page_url":"https://doi.org/10.5380/rcc.v3i1.21489","pdf_url":"https://revistas.ufpr.br/rcc/article/download/21489/14139","source":{"id":"https://openalex.org/S4210222395","display_name":"RC&C Revista de Contabilidade e Controladoria","issn_l":"1984-6266","issn":["1984-6266"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["poland-20","russia-white-list-4"],"host_organization":"https://openalex.org/P4310312455","host_organization_name":"Universidade Federal do Paran\u00e1","host_organization_lineage":["https://openalex.org/P4310312455"],"host_organization_lineage_names":["Universidade Federal do Paran\u00e1"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Revista Contabilidade e Controladoria","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2109054201.pdf","grobid_xml":"https://content.openalex.org/works/W2109054201.grobid-xml"},"referenced_works_count":41,"referenced_works":["https://openalex.org/W6735799","https://openalex.org/W1535278562","https://openalex.org/W1589346870","https://openalex.org/W1967364653","https://openalex.org/W1971432209","https://openalex.org/W1976471070","https://openalex.org/W1981612042","https://openalex.org/W1992700566","https://openalex.org/W1995494632","https://openalex.org/W1998674331","https://openalex.org/W2000585652","https://openalex.org/W2006808353","https://openalex.org/W2010681793","https://openalex.org/W2011043606","https://openalex.org/W2029056003","https://openalex.org/W2050180207","https://openalex.org/W2068016300","https://openalex.org/W2074928461","https://openalex.org/W2079735544","https://openalex.org/W2083148578","https://openalex.org/W2084050624","https://openalex.org/W2124224757","https://openalex.org/W2124597406","https://openalex.org/W2125898654","https://openalex.org/W2135155788","https://openalex.org/W2148709680","https://openalex.org/W2166215547","https://openalex.org/W2167953453","https://openalex.org/W2170415678","https://openalex.org/W2170790204","https://openalex.org/W2372953966","https://openalex.org/W2933735766","https://openalex.org/W3121377489","https://openalex.org/W3121968018","https://openalex.org/W3123957507","https://openalex.org/W3124126674","https://openalex.org/W3125717248","https://openalex.org/W4232474910","https://openalex.org/W4306249465","https://openalex.org/W6684189915","https://openalex.org/W7082500398"],"related_works":["https://openalex.org/W2332165956","https://openalex.org/W1976471070","https://openalex.org/W7219280917","https://openalex.org/W1500576953","https://openalex.org/W2949633230","https://openalex.org/W6989299822","https://openalex.org/W7119265254","https://openalex.org/W7112403183","https://openalex.org/W2949906583","https://openalex.org/W7120545194"],"abstract_inverted_index":{"A":[0,127,180],"pesquisa":[1],"procurou":[2],"testar":[3,82],"os":[4,83,116],"efeitos":[5,84],"da":[6,45,85,129],"alavancagem":[7,46,86,211,254],"financeira":[8,47,87,212,255],"sobre":[9,88],"o":[10,15,43,89,97,106,109,132,234],"beta":[11,16,61,155,218,226],"de":[12,20,32,51,70,72,76,99,103,135,156,160,169,178,192,201,219,230,236,265],"mercado":[13,157,220],"e":[14,22,96,108,162,194,221,244,267],"total":[17,182],"do":[18,60,158,185,217,225,247,263],"setor":[19,159,186,264],"siderurgia":[21,161,266],"metalurgia":[23,163,268],"das":[24,34,39,119,215,223,261],"empresas":[25,41,54,120,237,262],"listadas":[26,269],"na":[27,114,270],"BM&F":[28,271],"Bovespa.":[29,272],"Por":[30],"quest\u00f5es":[31,50],"adequa\u00e7\u00f5es":[33],"informa\u00e7\u00f5es,":[35],"foram":[36,91,105],"consideradas":[37],"23":[38],"26":[40],"para":[42,58,149],"estudo":[44],"e,":[48],"por":[49],"liquidez,":[52],"11":[53],"compuseram":[55],"a":[56,74,93,125,146,210,253],"carteira":[57,130],"c\u00e1lculo":[59],"em":[62,66,164,172,187,195],"per\u00edodos":[63],"cross-sections,":[64],"classificados":[65],"trimestres,":[67],"no":[68],"per\u00edodo":[69],"janeiro":[71],"2005":[73],"junho":[75],"2008,":[77],"com":[78,131],"dados":[79],"di\u00e1rios.":[80],"Para":[81],"beta,":[90],"utilizados":[92],"regress\u00e3o":[94],"linear":[95],"teste":[98,229],"m\u00e9dias.":[100],"Os":[101],"\u00edndices":[102],"refer\u00eancia":[104],"Ibovespa":[107,133,167,190],"S&P":[110,144,175,198],"500.":[111],"Como":[112,203],"previsto":[113],"literatura,":[115],"betas":[117,241],"espec\u00edficos":[118],"apresentaram-se":[121],"mais":[122,238,242],"inst\u00e1veis":[123],"que":[124,206,233,252],"carteira.":[126],"correla\u00e7\u00e3o":[128,147],"foi":[134,168,177,191,200],"0,739":[136],"(p-value":[137,151],"=":[138,152],"0,000).":[139,153],"Em":[140],"rela\u00e7\u00e3o":[141,165,173,188,196],"ao":[142,166,174,183,189,197,259],"\u00edndice":[143],"500,":[145],"diminui":[148],"0,464":[150],"O":[154],"0,93,":[170],"enquanto":[171],"500":[176,199],"1,08.":[179],"exposi\u00e7\u00e3o":[181],"risco":[184,260],"1,25":[193],"2,33.":[202],"resultado":[204],"tem-se":[205],"pelo":[207],"modelo":[208],"regressor,":[209],"explica":[213],"11,4%":[214],"varia\u00e7\u00f5es":[216,224],"27,2%":[222],"total.":[227],"No":[228],"m\u00e9dias":[231],"identificou-se":[232],"grupo":[235,248],"alavancado":[239],"apresentou":[240],"elevados":[243],"significativamente":[245],"diferentes":[246],"menos":[249],"alavancado.":[250],"Conclui-se":[251],"est\u00e1":[256],"positivamente":[257],"associada":[258]},"counts_by_year":[{"year":2023,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
