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Master's Dissertation
DOI
10.11606/D.96.2016.tde-11082016-103300
Document
Author
Full name
Igor Silva Bueno
E-mail
Institute/School/College
Knowledge Area
Date of Defense
Published
Ribeirão Preto, 2016
Supervisor
Committee
Pazello, Elaine Toldo (President)
Ambrozini, Marcelo Augusto
Barbosa, Klênio de Souza
Scorzafave, Luiz Guilherme Dacar da Silva
Title in Portuguese
Investimento do governo no mercado de ações como compensação do financiamento de campanhas eleitorais
Keywords in Portuguese
Diferenças em Diferenças
Doações Eleitorais
Eleições
Financiamento Eleitoral
Abstract in Portuguese
Este trabalho visa contribuir para a compreensão dos incentivos que permeiam os agentes envolvidos no financiamento de campanhas eleitorais. Por meio de evidências empíricas reunidas a partir do contexto do financiamento de campanhas brasileiras, a compra de ações de empresas de capital aberto por parte do governo é analisada como possível mecanismo de compensação do financiamento de campanhas eleitorais. A análise é feita comparando a participação do governo no capital de sociedades anônimas doadoras e não doadoras de recursos para financiamento de campanhas usando o método de Diferenças em Diferenças. Por meio dessa metodologia, identificou-se, particularmente na eleição de 2010, um efeito positivo do financiamento eleitoral sobre o investimento do governo em ações de empresas financiadoras.
Title in English
Government investment in the stock market as compensation for campaign financing
Keywords in English
Differences in Differences
Election Finance
Elections
Electoral Donations
Abstract in English
This study aims to contribute to the literature by investigating the incentives that pervade agents involved in electoral campaign funding. By means of empirical evidence gathered from the Brazilian electoral financing context, government investment in stocks is analyzed as a possible compensation mechanism for electoral campaign financing. The study investigates government investments in stocks comparing corporations that have supported electoral campaigns and those that have not, by applying the Differences-in-Differences method. By this method, a positive effect of electoral financing on government investment in companies stocks was identified in the 2010 electoral cycle. However, the empirical tests suggest no effect in 2002 and 2006 elections.
 
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IgorSBueno_Corrigida.pdf (740.71 Kbytes)
Publishing Date
2016-09-01
 
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