Open AccessO Impacto da Privatização no Desempenho Econômico: Um Estudo em Empresas Brasileiras de Grande Porte
Author(s) -
Vanessa Ingrid da Costa Cardoso,
Anna Beatriz Grangeiro Ribeiro Maia,
Sandra Maria dos Santos,
Francisco de Assis Soares
Publication year - 2013
Publication title -
revista ibero-americana de estratégia
Language(s) - English
Resource type - Journals
ISSN - 2176-0756
DOI - 10.5585/riae.v12i3.1904
Subject(s) - return on equity , return on assets , equity (law) , business , sample (material) , exploratory research , descriptive research , value (mathematics) , accounting , business administration , finance , profitability index , political science , sociology , social science , chemistry , chromatography , machine learning , anthropology , computer science , law
Privatizations have an important role in the Brazilian media, representing opportunities and challenges on the financial market and the target of many investors and other stakeholders. This study includes the privatization’s concept from the neoclassical current, that the primary goals of companies is get and improve benefits and returns to their owners. Therefore, this study aims to analyze the behavior of the economic performance of Brazilian companies before and after the privatization. Then, was done a documentary and bibliographical research, beyondan exploratory and descriptive research, with quantitative analysis. The sample consisted of eight Brazilian companies privatized in the period from 1990 to 2005, outside the financial sector. Four performance indicators were analyzed two years before and two years after the privatization of companies: Economic Value Added (EVA), Market Value Added (MVA), Return On Assets (ROA) and Return On Equity (ROE). From the results it was found that the companies had higher economic performance after the privatization. This results corroborated with other studies