ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR

Detalhes bibliográficos
Autor(a) principal: Miranda, Rômulo José Soares
Data de Publicação: 2015
Outros Autores: Procópio, Diego Pierotti, Cassuce, Francisco Carlos da Cunha, Cirino, Jader Fernandes
Tipo de documento: Artigo
Idioma: por
Título da fonte: Estudos do CEPE
Texto Completo: https://online.unisc.br/seer/index.php/cepe/article/view/5056
Resumo: The objective of the present study was to evaluate the effect of financial, economic and legal variables on the market value of companies operating in the electricity sector of the brazilian economy. To perform this study, we used the methodology Ordinary Least Squares (OLS). The Electricity Sector Index (ESI) was used as a proxy to evaluate the performance of these companies that make up the sector. The results pointed that the market value of these companies is influenced by the rates charged for the services, by the consumption of electricity in the country and also by the interest rate. In addition, it is verified also that institutional and regulatory changes are important determinants of the market value of these companies. Keywords: Electricity Sector. Electricity Sector Index (ESI). Brazil.
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spelling ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTORDETERMINANTES ECONÔMICOS DO VALOR DE MERCADO DAS EMPRESAS DO SETOR DE ENERGIA ELÉTRICASetor ElétricoÍndice Setorial de Energia Elétrica (ISS)BrasilThe objective of the present study was to evaluate the effect of financial, economic and legal variables on the market value of companies operating in the electricity sector of the brazilian economy. To perform this study, we used the methodology Ordinary Least Squares (OLS). The Electricity Sector Index (ESI) was used as a proxy to evaluate the performance of these companies that make up the sector. The results pointed that the market value of these companies is influenced by the rates charged for the services, by the consumption of electricity in the country and also by the interest rate. In addition, it is verified also that institutional and regulatory changes are important determinants of the market value of these companies. Keywords: Electricity Sector. Electricity Sector Index (ESI). Brazil.Objetivou-se neste estudo avaliar o efeito das variáveis financeiras, econômicas e legais sobre o valor de mercado das empresas que atuam no setor de energia elétrica da economia brasileira. Para a realização do estudo foi utilizada a metodologia de Mínimos Quadrados Ordinários (MQO). O Índice Setorial de Energia Elétrica (IEE) foi utilizado como uma proxy para avaliar o desempenho destas empresas que compõe o setor. Os resultados encontrados apontaram que o valor de mercado destas empresas é influenciado pelas tarifas cobradas pela prestação dos serviços, pelo consumo de eletricidade no país e também pela taxa de juros. Além disso, verifica-se também que as mudanças institucionais e regulatórias são importantes determinantes do valor de mercado destas empresas.Universidade de Santa Cruz do Sul2015-06-15info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://online.unisc.br/seer/index.php/cepe/article/view/505610.17058/cepe.v0i41.5056Estudos do CEPE; Nº 41 - Janeiro/Junho 2015; 28-451982-6729reponame:Estudos do CEPEinstname:Universidade de Santa Cruz do Sul (UNISC)instacron:UNISCporhttps://online.unisc.br/seer/index.php/cepe/article/view/5056/4325Miranda, Rômulo José SoaresProcópio, Diego PierottiCassuce, Francisco Carlos da CunhaCirino, Jader Fernandesinfo:eu-repo/semantics/openAccess2024-05-27T15:01:26Zoai:ojs.online.unisc.br:article/5056Revistahttp://online.unisc.br/seer/index.php/cepePUBhttp://online.unisc.br/seer/index.php/cepe/oaianadapper@mx2.unisc.br||ralievi@unisc.br|| carolina_haas@hotmail.com1982-67291413-4128opendoar:2024-05-27T15:01:26Estudos do CEPE - Universidade de Santa Cruz do Sul (UNISC)false
dc.title.none.fl_str_mv ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
DETERMINANTES ECONÔMICOS DO VALOR DE MERCADO DAS EMPRESAS DO SETOR DE ENERGIA ELÉTRICA
title ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
spellingShingle ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
Miranda, Rômulo José Soares
Setor Elétrico
Índice Setorial de Energia Elétrica (ISS)
Brasil
title_short ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
title_full ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
title_fullStr ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
title_full_unstemmed ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
title_sort ECONOMIC DETERMINANTS IN THE MARKET VALUE OF COMPANIES THE ELECTRIC ENERGY SECTOR
author Miranda, Rômulo José Soares
author_facet Miranda, Rômulo José Soares
Procópio, Diego Pierotti
Cassuce, Francisco Carlos da Cunha
Cirino, Jader Fernandes
author_role author
author2 Procópio, Diego Pierotti
Cassuce, Francisco Carlos da Cunha
Cirino, Jader Fernandes
author2_role author
author
author
dc.contributor.author.fl_str_mv Miranda, Rômulo José Soares
Procópio, Diego Pierotti
Cassuce, Francisco Carlos da Cunha
Cirino, Jader Fernandes
dc.subject.por.fl_str_mv Setor Elétrico
Índice Setorial de Energia Elétrica (ISS)
Brasil
topic Setor Elétrico
Índice Setorial de Energia Elétrica (ISS)
Brasil
description The objective of the present study was to evaluate the effect of financial, economic and legal variables on the market value of companies operating in the electricity sector of the brazilian economy. To perform this study, we used the methodology Ordinary Least Squares (OLS). The Electricity Sector Index (ESI) was used as a proxy to evaluate the performance of these companies that make up the sector. The results pointed that the market value of these companies is influenced by the rates charged for the services, by the consumption of electricity in the country and also by the interest rate. In addition, it is verified also that institutional and regulatory changes are important determinants of the market value of these companies. Keywords: Electricity Sector. Electricity Sector Index (ESI). Brazil.
publishDate 2015
dc.date.none.fl_str_mv 2015-06-15
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://online.unisc.br/seer/index.php/cepe/article/view/5056
10.17058/cepe.v0i41.5056
url https://online.unisc.br/seer/index.php/cepe/article/view/5056
identifier_str_mv 10.17058/cepe.v0i41.5056
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://online.unisc.br/seer/index.php/cepe/article/view/5056/4325
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de Santa Cruz do Sul
publisher.none.fl_str_mv Universidade de Santa Cruz do Sul
dc.source.none.fl_str_mv Estudos do CEPE; Nº 41 - Janeiro/Junho 2015; 28-45
1982-6729
reponame:Estudos do CEPE
instname:Universidade de Santa Cruz do Sul (UNISC)
instacron:UNISC
instname_str Universidade de Santa Cruz do Sul (UNISC)
instacron_str UNISC
institution UNISC
reponame_str Estudos do CEPE
collection Estudos do CEPE
repository.name.fl_str_mv Estudos do CEPE - Universidade de Santa Cruz do Sul (UNISC)
repository.mail.fl_str_mv anadapper@mx2.unisc.br||ralievi@unisc.br|| carolina_haas@hotmail.com
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