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

Vanessa Ingrid da Costa Cardoso; Anna Beatriz Grangeiro Ribeiro Maia; Sandra Maria dos Santos; Francisco de Assis Soares

doi:10.5585/ijsm.v12i3.1904

Autores/as

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

Palabras clave:

Privatization, Economic Performance, Neoclassical Current.

Resumen

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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Biografía del autor/a

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.