Financial constraints in the Brazilian capital market: A natural experiment of CVM Instruction 476

Financial constraints in the Brazilian capital market: A natural experiment of CVM Instruction 476

ABSTRACT The study analyzes the impacts of Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários [CVM]) Instruction n. 476, January 16th, 2009 on the financing of Brazilian companies. This regulatory change may have reduced financial constraints by lowering the costs of issui...

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Bibliographic Details
Main Authors: Wilson Tarantin, Lucas A. B. de C. Barros
Format: Article
Language:English
Published: Universidade de São Paulo 2024-12-01
Series:Revista Contabilidade & Finanças
Subjects:
financial constraints
capital market
issuance costs
legal constraints
financing
Online Access:http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1519-70772024000300508&lng=en&tlng=en
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