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The price of stock of companies active in Bovespa foodstuff.

Ano de publicação: 2.006 Publicação: Nova Lima:  Fundação Dom Cabral,  2006.  (Caderno de Ideias ; CI0618) Paginação: 24 p. Autores: SOUZA NETO, José Antônio;  MELO, Pedro Bernardes de. Tipo de Publicação: Caderno de Ideias Autor Principal: Souza Neto, José Antônio Outros Autores: SOUZA NETO, José Antônio;  MELO, Pedro Bernardes de. Resumo: Corporate governance practices are designed to enhance the value of the corporation, facilitate its access to capital and contribute for their perenity. Such practices may lead to reductions in the cost of equity and of interest rates of financing, which may increase the value of the company in the
capital market. In this work, a formula was obtained to represent the possible gain of value that corporate governance adds to the price of the stock of the companies, as a result of reduction in the cost of equity and of financing interest rates. The study has covered companies active in the Foodstuff –
Meats and Byproducts sector, divided into two distinct groups: companies enrolled and companies not enrolled in Bovespa’s Corporate Governance Level 1, in the period from June/2001 (beginning of the Governance segment, the GC – Corporate Governance Index from Bovespa) to December, 2004. The
variables assumed for obtaining the gain in stock price are the Unleveraged beta, the liquidity of the companies being analyzed and a probable bonus on the financing interest rate. The formulas achieved for this gain are based on statistical and mathematical procedures, combining formulas from the
Goden Model and from the CAPM Model. Idioma: Inglês Número de Referência: 658 S719t 2006