Identificação e controle de riscos idiossincráticos para produtos financeiros da indústria cultural e criativa
DOI:
https://doi.org/10.32719/25506641.2021.9.1Palavras-chave:
Financiamento da indústria cultural e criativa, risco idiossincrático, identificação de risco, sinais múltiplos de qualidadeResumo
Este trabalho explora as características discretas e diversificadas da indústria cultural e criativa (ICC) para identificar e controlar o risco idiossincrático desta no mercado aberto de capital financeiro. Selecionaram-se e processaram-se dados em painel de empresas da indústria cultural e criativa registradas no Mercado de Ações de Arte e Cultura de Tianjin
entre 2011 e 2017 para identificar os fatores que influenciam o risco idiossincrático da ICC por meio de um modelo de sinais múltiplos de qualidade. Os resultados mostram que a liquidez, o risco de mercado e as características particulares da indústria têm um significativo impacto sobre o risco idiossincrático. É válido ressaltar que o impacto do risco de mercado sobre o risco idiossincrático da ICC se limita à indústria, enquanto que a compra e venda no sistema financeiro externo não tem impacto significativo sobre o risco idiossincrático da ICC e, portanto, não se observa efeito de substituição de investimento. A pesquisa concluiu que o risco idiossincrático da ICC pode ser identificado e controlado com base na liquidez, no risco de mercado e no padrão de compra e venda das empresas da ICC. Isso ajuda os empresários de tal indústria a avaliar o risco financeiro de potenciais investimentos e os responsáveis pela política pública a melhorar os mecanismos de vigilância do sistema financeiro.
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