| Variables | Description | Source |
| finn | Financial assets/Net equity: Part of the equity of the legal entity that is in the form of bonds of companies or institutions with the intention of achieving a positive return in a certain period of time. The values of the Financial Assets variable are the result of the following items in companies’ balance sheets: current assets, “financial investments,” added to non-current assets, “financial investments measured at fair value through other comprehensive income in the long term,” and “financial investments evaluated at the long-term amortized cost.” The survey comes from balance sheet data provided by the Economatica platform as well as data from the financial statements delivered to the Comissão de Valores Mobiliários—CVM according to the accounting standard defined by the autarchy, linked to the Ministry of Finance. The data correspond to 81 non-financial economic segments during the period 2010-2019. | B3 S.A./Economatica. Available at: https://economatica.com/index.php?/plataform |
| re_finn | Companies’ financial revenues. Examples of financial restatements are income from fixed income financial investments; interest received on equity; the bond or debenture redemption premium; revenues from securities linked to the open market, and monetary variations as a result of the exchange rate. The values used in the article were obtained from the annual data of the “Financial Income” account contained in the Income Statement for the year of the analyzed companies The data come from Economatica platform and correspond to 81 non-financial economic segments during the period 2010-2019. | B3 S.A./Economatica. Available at: https://economatica.com/index.php?/plataform |
| div | Short-term debt. It is the companies’ indebtedness that will mature in up to one year. The survey comes from balance sheet data provided by the Economatica platform and corresponds to 81 non-financial economic segments during the period 2010-2019. | B3 S.A./Economatica. Available at: https://economatica.com/index.php?/plataform |
| gdp | GDP-Gross Domestic Product-Market prices-var. real trim. —(%). Data from the System of National Accounts. | Instituto Brasileiro de Geografia e Estatística, Sistema de Contas Nacionais Trimestrais (IBGE/SCN Trimestral)-SCN104_PIBPMG104—Available at: https://ibge.gov.br/estatisticas/economicas/contas-nacionais |
| selic | Basic interest rate of the economy—Special System for Settlement and Custody-Selic—set by Central Bank Monetary Policy Committee-Copom—(% a.a.) | Banco Central do Brasil, Boletim, Seção mercado financeiro e de capitais (Bacen/Boletim/M. Finan.) —BM366_TJOVER366. Available at: https://www.bcb.gov.br/controleinflacao/historicotaxasjuros |
| credit | Seasonally adjusted credit—corporate | Banco Central do Brasil—Sistema Gerenciador de Séries Temporais-v2.1—Available at: https://www3.bcb.gov.br/sgspub/localizarseries/localizarSeries.do?method=prepararTelaLocalizarSeries |
| ibovespa | Bovespa Index—close. Is the main performance indicator of shares traded on B3 and brings together the most important companies in the Brazilian capital market. | B3 S.A.—GM366_IBVSP366. Available in: https://www.b3.com.br/pt_br/market-data-e-indices/indices/indices-amplos/ibovespa.htm |