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Relacao da Estrutura de Capital e do Valor Economico Agregado no Desempenho Economico em Empresas Industriais Brasileiras e Chilenas

Author

Listed:
  • Maurício Leite
  • Tarcísio Pedro da Silva

Abstract

O estudo analisou a relacao da Estrutura de Capital e do valor economico agregado no desempenho economico em empresas industriais brasileiras e chilenas. Realizou-se uma pesquisa descritiva, documental e quantitativa. A populacao compreendeu as empresas de Capital aberto do setor industrial ativas no sítio da Thomson One BankerTM no período de 2009 a 2013. A amostra foi composta por 127 empresas, sendo 82 empresas brasileiras e 45 chilenas. Os resultados encontrados evidenciam que a maior participacao de Capital de terceiros na Estrutura de Capital das empresas brasileiras e chilenas possui alta relacao negativa com o desempenho economico das organizacoes analisadas. O valor economico agregado apresentou baixa relacao negativa com o des- empenho economico das empresas brasileiras e baixa relacao positiva com o desempenho economico das empresas chilenas. ****** El estudio analizó la relación de la estructura de Capital y del valor económico agregado en el desempeno económico en empresas industriales brasilenas y chilenas. Se realizó una investigación descriptiva, documental y cuantitativa. La población abarcó las empresas de Capital abierto del sector industrial activas en el lugar de Thomson One Banker TM durante el período de 2009 a 2013. La muestra fue compuesta por 127 empresas, siendo 82 empresas brasilenas y 45 chilenas. Los resultados encontrados evidencian que la mayor participación de Capital de terceros en la estructura de Capital de las empresas brasilenas y chilenas posee una alta relación negativa con el desempeno económico de las organizaciones analizadas. El valor económico agregado presentó baja relación negativa con el desempeno económico de las empresas brasilenas y de baja relación positiva con el desempeno económico de las empresas chilenas. ****** This study assesses the relationship between capital structure and economic value added in the economic performance of Brazilian and Chilean industrial companies. For these purposes, a descriptive, documentary, and quantitative research study was conducted, wherein the population included active public companies operating within the industrial sector listed on the Thomson One Banker TM website during the period from 2009 to 2013. The sample was composed of 127 companies–82 Brazilian and 45 Chilean companies. The results indicate that the increasing participation of third party capital in the capital structure of Brazilian and Chilean companies has exerted a high neg- ative relation on the economic performance of the organizations assessed. However, the economic value added displayed a low negative relation with the economic performance of Brazilian companies and a low positive relation with the economic performance of Chilean companies.

Suggested Citation

  • Maurício Leite & Tarcísio Pedro da Silva, 2019. "Relacao da Estrutura de Capital e do Valor Economico Agregado no Desempenho Economico em Empresas Industriais Brasileiras e Chilenas," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, vol. 27(1), pages 11-42, February.
  • Handle: RePEc:col:000180:017721
    DOI: 10.18359/rfce.3129
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    More about this item

    Keywords

    Estrutura de Capital; Valor econômico agregado; Desempenho econômico;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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