Search

Copyright of Revista de Contabilidade e Organizações is the property of Revista de Contabilidade e Organizacoes and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In order to identify the effects of the 2008 financial crisis on the level of market risk, the present study aimed to analyze the existence of differences between the means of the CAPM beta coefficients before and after the crisis. The sample consisted of 31 companies participating in the Index of the Stock Exchange of São Paulo (Bovespa Index). After performing parametric tests it was found that the sample had normal feature. Therefore, we adopted the test non-parametric Kruskal-Wallis test for the following research hypothesis: H0: the 2008 financial crisis did not affect the risk of Brazilian companies that constitute the Bovespa Index. Statistical tests indicated that the companies demonstrated a reduced level of risk after the crisis, a fact that contradicts the results of some studies of the area. Regarding the analysis of sectors, it was noted that among the 14 sectors with representation in research highlights the sectors of water and sewage, electricity, steel and metallurgy, transportation and services vehicles and parts that showed significant differences between the medium risk between the pre and post crisis. [ABSTRACT FROM AUTHOR]