Contribuição dos fatores internos e externos para o desempenho das empresas brasileiras e sua evolução na última década.

AUTOR(ES)
DATA DE PUBLICAÇÃO

2005

RESUMO

This study partitions the variance in rate of return of companies in the Brazilian market between factors associated with the companies business unit (strategy), market, corporation and time effects for the period between 1996 and 2003. The model is further calculated in four year windows in order to evaluate the trends of these factors. Finally, another variable, connected to the capital structure of the companies is used to forecast the variance in sensibility to different performance measures. The results show that the main contribution is due to the business unit (strategy) effects. The variance due to this effect is actually increasing during the period studied. Quite surprisingly, the time effects are very small, although similar to the American market results. Also unexpected are the results for the market structure model. In this case the business unit contribution is not only the major effect but is actually bigger then for the rate of return model, with a small contribution from the market effects.

ASSUNTO(S)

estratégia estudo empírico resource-based view strategy modelo matemático corporate management variance components mathematical model profitability administracao variância de componentes performance gerência corporativa desempenho lucratividade visão baseada em recursos empirical study

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