Análisis de la relación entre el valor económico agregado (EVA) y los indicadores del mercado de empresas brasileñas

Pletsch, Caroline Sulzbach; Reif, Estelamaris; Silva, Tarcisio Pedro da

doi:10.18359/rfce.613

Cited by 3 publications

(3 citation statements)

References 39 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Despite gaining popularity in the 1990s, EVA® remains one of the most widely used measures to assess value creation, used in much of the research on companies' shareholders' value creation [1]. Stancu, ObrejaBraşoveanu, Ciobanu and Stancu [22] claim that EVA® is the most used measure by companies in the business performance assessment.…”

Section: Value Creation Measured By Economic Value Added (Eva®)mentioning

confidence: 99%

“…The accounting information provided by financial accounting, summarized in the balance sheet and income statement, is the basis for the calculation of many indicators to perform different analyses, such as economic and financial or value creation. Value creation has gained prominence both in the academic community, by the number of surveys conducted [1], and in the business environment, where managers are pressured to maximize the company's value in a context shareholders' value creation [2]. Thus, the study reveals its importance by analyzing factors that may maximize or condition value creation.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Operating Risk (Cost-Volume-Profit) and Economic Value Added (EVA®)

Teixeira¹,

Galvão²,

Nunes³

2020

IJAFRM

View full text Add to dashboard Cite

Today, it is unquestionable the importance that organizational management is supported by indicators. Also, knowledge of value creation and operating risk are information that differentiates this management support. This study aimed to verify the relationship between the value creation generated by companies included in the sample and the indicators used in operating risk (cost-volume-profit analysis). In the literature review the concept of value creation and the indicators usually used to measure operating risk, break-even point, margin of safety, and degree of operating leverage, were presented and characterized, as well as the Economic Value Added (EVA®), which was the value-based performance measure used in the study. The sample consists of 27 non-financial companies listed in Euronext Lisbon and the period analyzed was the one between 2014 and 2018. The data were obtained through the consolidated annual accounts of the sample companies, and its analysis was performed using the multivariate statistical analysis technique, linear regression. The results showed that the estimated multiple linear regression model allowed, with a very reasonable quality, to estimate the impact that the break-even point and the margin of safety variables have on the variation of the value of EVA®. This study gives significant information showing how operating risk indicators affect value creation, which is considered one the main objectives of companies.

show abstract

Section: Value Creation Measured By Economic Value Added (Eva®)mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Operating Risk (Cost-Volume-Profit) and Economic Value Added (EVA®)

Teixeira¹,

Galvão²,

Nunes³

2020

IJAFRM

View full text Add to dashboard Cite

show abstract

“…O EVA® é utilizado para verificar se a empresa está agregando ou destruindo valor. Com essa metodologia se consegue avaliar quanto de riqueza foi gerada para determinado capital, dessa forma, se tem maior entendimento do que realmente está sendo gerado de riqueza pelas empresas, contribuindo bastante para acionistas e gestores (Pletsch et al, 2015;Almeida et al, 2016). Curadi et al (2017) e Cruz et al (2009) salientam que o lucro contábil tradicional é uma medida limitada da competitividade e capacidade de uma empresa, já que o resultado mesmo que positivo não garante uma remuneração do capital aplicado pelos acionistas.…”

Section: Indicadores Utilizados Na Análise Dos Dadosunclassified

Análise De Risco Das Empresas Listadas No Ise 2018 Da B3

Tiozo

Leismann

2019

REVISTA REUNIR

View full text Add to dashboard Cite

Este estudo tem por objetivo analisar se as empresas listadas no Índice de Sustentabilidade Empresarial (ISE) 2018 da B3 apresentam risco diferente em relação ao seu tamanho. Para realização desta pesquisa quantitativa, foram analisados 120 demonstrativos financeiros, referentes aos períodos de 2013 a 2017, das 24 empresas listadas no índice, excluídas as instituições financeiras. A pesquisa se classifica como descritiva e exploratória quanto aos seus objetivos e quanto aos procedimentos é uma pesquisa documental. Os indicadores utilizados foram o saldo de tesouraria de Fleuriet, liquidez corrente, endividamento geral, fator de insolvência de Kanitz e Valor Econômico Agregado. Os resultados obtidos por meio da análise dos dados com os indicadores financeiros, indicam que as empresas do ISE, em sua maior parte, apresentam baixo risco, e que ao dividir as empresas em dois grupos, um com os maiores ativos e outro com os menores do índice, consegue se verificar que os que tem menores ativos se sobressaem em relação ao outro, em relação ao saldo de tesouraria, liquidez corrente e no fator de solvência, que indicam que essas empresas apresentam risco menor. Como sugestão para novas pesquisa, seria importante comparar o risco das empresas do ISE com os demais índices, também se tem a possibilidade de utilizar outros indicadores para análise de risco.

show abstract

Financial Analysis and Value Creation

Galvão

2021

Handbook of Research on Reinventing Economies and Organizations Following a Global Health Crisis

View full text Add to dashboard Cite

The business environment is increasingly complex and demanding, and companies now face a pandemic situation with severe repercussions for the global economy. With this in mind, it is clear that the information provided by financial analysis is more than ever an essential instrument for management control, for decision making. Value creation is considered one of management's primary objectives; however, there is still no consensus on the superiority of value-based measures over traditional measures based on profit. The study intends to highlight the importance of complementing the financial analysis, based on traditional valuation measures, using value creation as an essential management control instrument. Thus, using the case study methodology, an analysis of historical performance will be performed using data from a company listed on Euronext Lisbon from 2014 to 2018. Economic Value Added (EVA®) was used to measure value creation.

show abstract

Análisis de la relación entre el valor económico agregado (EVA) y los indicadores del mercado de empresas brasileñas

Cited by 3 publications

References 39 publications

Operating Risk (Cost-Volume-Profit) and Economic Value Added (EVA®)

Operating Risk (Cost-Volume-Profit) and Economic Value Added (EVA®)

Análise De Risco Das Empresas Listadas No Ise 2018 Da B3

Financial Analysis and Value Creation

Contact Info

Product

Resources

About