The Impact of Privatization in Economic Performance: A Study in Brazilian Companies Large

Authors

  • Vanessa Ingrid da Costa Cardoso Universidade Federal do Ceará
  • Anna Beatriz Grangeiro Ribeiro Maia Universidade Federal do Ceará
  • Sandra Maria dos Santos Universidade Federal do Ceará
  • Francisco de Assis Soares Universidade Federal do Ceará

DOI:

https://doi.org/10.5585/ijsm.v12i3.1904

Keywords:

Privatization, Economic Performance, Neoclassical Current.

Abstract

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.

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Author Biographies

Vanessa Ingrid da Costa Cardoso, Universidade Federal do Ceará

Mestranda em Administração e Controladoria pela Universidade Federal do Ceará. Graduada em Ciências Contábeis pela Universidade Federal do Ceará

Anna Beatriz Grangeiro Ribeiro Maia, Universidade Federal do Ceará

Mestranda em Administração e Controladoria pela Universidade Federal do Ceará. Graduada em Ciências Contábeis pela Universidade Federal do Ceará

Sandra Maria dos Santos, Universidade Federal do Ceará

Professora associada da Universidade Federal do Ceará. Possui graduação em Ciências Econômicas pela Universidade Federal do Ceará, mestrado em Economia pela Universidade Federal do Ceará e doutorado em Economia pela Universidade Federal de Pernambuco.

Francisco de Assis Soares, Universidade Federal do Ceará

Professor da Universidade Federal do Ceará. Mestre em Economia pela Universidade Federal do Ceará.

Published

01.09.2013

How to Cite

Cardoso, V. I. da C., Ribeiro Maia, A. B. G., Santos, S. M. dos, & Soares, F. de A. (2013). The Impact of Privatization in Economic Performance: A Study in Brazilian Companies Large. Revista Ibero-Americana De Estratégia, 12(3), 183–211. https://doi.org/10.5585/ijsm.v12i3.1904