The Brazilian equity market is characterized by relatively low liquidity, high cost of capital (low firm valuation), and limited new capital raising. Ownership concentration of corporations is high, with large wedges between control and cash flow rights, leading to large differences in pricing of non-voting and voting shares, reflecting the risks of expropriation by insiders. In recent years, much of the trading and new issuance activity has also...
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INFORMATION
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2000/01/01
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Document de travail
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27056
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1
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1
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2010/07/01
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Corporate governance reform issues in the Brazilian equity markets
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equity market
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