http://repositorio.ufc.br/handle/riufc/25136 Mon, 06 Apr 2026 14:18:54 GMT 2026-04-06T14:18:54Z http://repositorio.ufc.br/handle/riufc/83661 Título: Ferrovias brasileiras concedidas: estudo da estrutura de capital sob a perspectiva das Teorias PECKING ORDER e TRADE-OFF Autor(es): Santos, Andressa Pessoa Abstract: This study aimed to analyze the capital structure of Brazilian railways granted concessions after the end of Rede Ferroviaria Federal S.A (RFFSA) in light of two main theories: the Pecking Order Theory and the Trade-off Theory. The first one suggests that companies tend to use internal funds to finance their investments. The second explains that there is an optimal equilibrium between equity and third-party capital that maximizes the firm's value, takingadvantage of tax benefits from acquiring external debt. The methodology involved studying the two theories and analyzing three econometric models with variables considered determinants of leverage (size, tangibility, profitability, and growth) of 12 railways over a period of 12 years. Given the complexity of the analyzed market, the results revealed a combination of boththeories, depending on the variables present in the model. Tipo: TCC Wed, 01 Jan 2025 00:00:00 GMT http://repositorio.ufc.br/handle/riufc/83661 2025-01-01T00:00:00Z http://repositorio.ufc.br/handle/riufc/80109 Título: Teoria dos jogos e a manipulação da bolsa de valores: uma análise para o caso brasileiro Autor(es): Soares, Antônio César Renan Aguiar Abstract: One of the fundamental roles of the stock exchange is to finance the national economy, therefore it is extremely important that the State takes measures to support and encourage investments in financial markets. The Securities and Exchange Commission (CVM) is the body responsible for regulating Brazilian markets, acting through proactive measures that ensure market transparency and equity. The present work uses Game Theory as an analytical tool to develop a static game of complete information between the Securities and Exchange Commission and an investor trying to manipulate the stock market. The model presents an investor who chooses between two strategies: manipulating the market or not manipulating the market; and the regulatory body chooses between: investigating market abuse or not investigating market abuse. When analyzing the sensitivity of the model, it is concluded that when the fine set by the CVM is very high in relation to the informational income that the investor should receive when manipulating the market, the CVM is therefore not interested in investigating market abuse. On the other hand, if the informational income comes close to the fine charged by the CVM for manipulating the market, the CVM is interested in investigating market abuse. Therefore, the informational income must always be lower than the fine imposed by the CVM in order to have a mixed strategy game. Tipo: TCC Mon, 01 Jan 2024 00:00:00 GMT http://repositorio.ufc.br/handle/riufc/80109 2024-01-01T00:00:00Z http://repositorio.ufc.br/handle/riufc/80078 Título: Ensaio sobre a criminalidade e o desenvolvimento econômico a luz da teoria econômica do crime de gary becker: o caso de Fortaleza Autor(es): Martins, Wellen Davila Barbosa Abstract: This work aims to analyze crime in Fortaleza from the perspective of Gary Becker's Economic Theory of Crime, which considers crime as the result of a rational decision made by individuals who weigh the costs and benefits of their actions. The research seeks to understand how crime in the city is influenced by economic incentives and individuals' perception of the risk and reward when committing crimes. Using this theory, the study explores the relationship between factors such as social inequality, poverty, unemployment and lack of opportunities with the increase in crime in Fortaleza. According to Becker's theory, individuals commit crimes when the expected benefits (such as financial gains or satisfaction of personal needs) exceed the costs, which are represented by the risks of punishment, such as imprisonment or fines. To understand this dynamic, the work uses statistical data on crime in the city so that these are correlated with economic indicators such as GDP, GVA, HDI-Income, and also evaluating data on how the scarcity of resources, the lack of study opportunities and economic inequalities influence the decision to resort to crime as an alternative to improving living conditions. The correlation between these indicators and crime rates was examined in order to verify whether, as the economic theory of crime suggests, factors such as low income levels and high unemployment rates can increase the "rationality" of committing crimes, given that individuals, when facing economic difficulties, perceive the benefits of crime as a way of achieving resources or status. Furthermore, the work suggests that more effective public policies should increase the perception of risk of punishment and at the same time offer more economic and social opportunities for the population, reducing the attractiveness of crime as an alternative for survival. The research also points to the need for preventive measures that reduce social inequalities and provide access to better living conditions, thus reducing the "rationality" of crime as a viable option for individuals in vulnerable situations. Tipo: TCC Wed, 01 Jan 2025 00:00:00 GMT http://repositorio.ufc.br/handle/riufc/80078 2025-01-01T00:00:00Z http://repositorio.ufc.br/handle/riufc/80071 Título: Método de valuation aplicado à Magazine Luiza S.A.: empresa brasileira do setor de varejo listada no novo mercado da B3 Autor(es): Bezerra, Davi de Araújo Abstract: This study aimed to determine the value of Magazine Luiza S.A., a company listed in the Novo Mercado segment of B3, using the discounted cash flow method, which is widely recognized by analysts and investors. Organizational and financial aspects of the company from 2018 to 2023 were analyzed, along with projections for the period from 2024 to 2028, based on historical financial data. The study concluded that the company’s total value was R$ 10.65 billion, with a fair share price of R$ 10.33, higher than the market price of R$ 9.00 on the study’s base date. The analysis demonstrated that the discounted cash flow method is effective, provided it is based on representative data and consistent assumptions, with the weighted average cost of capital (WACC) being the most sensitive variable. Lastly, the study reinforces the importance of a rigorous valuation process as a strategic tool for investments. Tipo: TCC Mon, 01 Jan 2024 00:00:00 GMT http://repositorio.ufc.br/handle/riufc/80071 2024-01-01T00:00:00Z