Leonardo Anversi Ukita, Rodolfo Leandro de Faria Olivo, L. J. Morilhas, F. Nielsen
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Impacto das variáveis bursáteis no desempenho financeiro das corretoras
independentes
The 21st Century has seen important innovations in stock
markets, particularly the widespread adoption of automatic trading systems,
which, allied to high-speed information systems, have increased efficiency
and competition among stock brokers. In this context, we investigate the
impacts of these changes on independent Brazilian brokerage firms. Results
based on a 52-month sample period suggest a small effect of the Bovespa
index, market volatility and traded volumeon brokers firms
financial performance, indicating a still-limited impact of new technologies
of automatic trading and high-speed information on the Brazilian
market.
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