Mercado de renda variável na era do Home Broker: requisitos e desafios

AUTOR(ES)
DATA DE PUBLICAÇÃO

2004

RESUMO

The participation of individuals in Brazilian capital markets has been growing to a significant extent over the past few years and already corresponds to practically 30% of the BOVESPA. Reasons for this are diverse, but certainly ease of access and economic stability have had a decisive influence. The application of TI in the banking sector has created a culture in which the user assumes an active role in banking transactions. As could not have been otherwise, given the strict relationship with the movement of money, institutions that operate in capital markets perceived the possibility and necessity of offering self-service in operations such as the buying, selling and custodianship of stocks and bonds. In fact, the advances of TI and the Internet have enabled the implementation of a modern and agile access channel and selfservice in the buying and selling of stock, which was called Home Broker (HB). However, it is important to point out that these advances have neither changed nor diminished the need to be prepared to make decisions and adequately realize transactions that result from business that is made. On the contrary, the achieved autonomy established the need to master procedures that had previously been performed by stockbrokers. In this sense, the present study raised evidences regarding the situation of preparing people who are regularly working in this type of market. The research involved traders who work in the cities of Blumenau, Florianópolis, Porto Alegre and Curitiba, and who regularly use an environment called a stock r oom. The study evaluated the interviewees in relation to the ideal profile of a speculator, it means, it considered the mental attitude in light of risk, the tools to take decisions and the operational preparedness in performing competently the function; all in regard to buying and selling transactions in the cash trade market. The results reveal that the minority of traders presents a typical speculator profile, since in decision-making few use the principal tools of Technical analysis, few adopt adequate criteria of achievement to profit-making, many evince conservative attitudes of gamblers in relation to risk and uncertainty. Curitiba is the city in which the highest index of those fitting the profile of speculator was found and Porto Alegre where the lowest index was found. In relation to operational preparedness for making transactions, less than 20% of those interviewed were found to have an adequate level of preparedness. In this sense, evidence indicates that despite of advances in TI and the increased level of autonomy that traders employ in making buying and selling stock transactions, it is low in proportion to the traders that present attributes of speculators. In this sense, it may be inferred that the majority of those interviewed can be placed in the investor or gambler categories, i.e. with long -term interests and in the eventual sale of stock, without the support of technical analysis tools and technical decision making.

ASSUNTO(S)

mercado de renda variável self-service administracao financeira mercado de capitais; bolsa de valores; ações (finanças) floating rate market capital markets - traders autoatendimento mercado de capitais

ACESSO AO ARTIGO

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