Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA

Detalhes bibliográficos
Autor(a) principal: Moura, Geovanne Dias de
Data de Publicação: 2016
Outros Autores: Macêdo, Francisca Francivânia Rodrigues Ribeiro, Mazzioni, Sady, Kruger, Silvana Dalmutt
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Catarinense da Ciência Contábil (Online)
Texto Completo: https://revista.crcsc.org.br/index.php/CRCSC/article/view/2152
Resumo: The study aimed at analyzing the relationship between results-based management and the company's cost of equity and its third party in Brazilian companies listed in BM&FBovespa. To this end, a descriptive research was conducted through documentary analysis and quantitative analysis of the data from 2010 to 2013 from a sample of 217 companies. The results revealed that the cost of equity rose in the period of 2010 to 2013. With respect to the cost of third party, when analyzed by Kd variable, it was found out a slight decrease from 31,81% to 28,37%. When analyzing the cost of third party by Ki variable, it was noticed an increase from 23,94% to 30,13% between 2010 and 2013. As for management, the results showed significance for the low proportion managements, especially since 2011. The results also showed that, among the analyzed companies, those with lower results-based management did not have lower cost of equity and third party.
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spelling Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPAAnálise da relação entre gerenciamento de resultados e custo de capital em empresas brasileiras listadas na BM&FBOVESPAResults-based managementCost of equityCost of third partyBrazilian companiesBM&FBovespa.Gerenciamento de resultadosCusto de capital próprioCusto de capital de terceirosEmpresas brasileirasBM&FBovespa.The study aimed at analyzing the relationship between results-based management and the company's cost of equity and its third party in Brazilian companies listed in BM&FBovespa. To this end, a descriptive research was conducted through documentary analysis and quantitative analysis of the data from 2010 to 2013 from a sample of 217 companies. The results revealed that the cost of equity rose in the period of 2010 to 2013. With respect to the cost of third party, when analyzed by Kd variable, it was found out a slight decrease from 31,81% to 28,37%. When analyzing the cost of third party by Ki variable, it was noticed an increase from 23,94% to 30,13% between 2010 and 2013. As for management, the results showed significance for the low proportion managements, especially since 2011. The results also showed that, among the analyzed companies, those with lower results-based management did not have lower cost of equity and third party.O estudo objetivou analisar a relação entre o gerenciamento de resultados contábeis e o custo de capital próprio e de terceiros em empresas brasileiras listadas na BM&FBovespa. Para tal, realizou-se pesquisa descritiva, conduzida por meio de análise documental e abordagem quantitativa dos dados referentes ao período de 2010 a 2013 de uma amostra composta de 217 empresas. Os resultados evidenciaram que houve elevação do custo de capital próprio. No que tange ao custo de capital de terceiros, quando analisado por meio da variável Kd, constatou-se que ocorreu uma pequena redução de 31,81% para 28,37%. Ao analisar o custo de capital de terceiros, por meio da variável Ki, constatou-se que houve aumento de 23,94% para 30,13%. Os resultados evidenciaram destaque para os gerenciamentos de baixas proporções, principalmente a partir do ano de 2011. Também entre as empresas analisadas aquelas com menor gerenciamento de resultados não apresentavam menor custo de capital próprio e de terceiros.Conselho Regional de Contabilidade de Santa Catarina2016-04-06info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revista.crcsc.org.br/index.php/CRCSC/article/view/215210.16930/2237-7662/rccc.v15n44p9-23Revista Catarinense da Ciência Contábil; Vol. 15 No. 44 (2016): Janeiro-Abril; p. 09-23Revista Catarinense da Ciência Contábil; v. 15 n. 44 (2016): Janeiro-Abril; p. 09-232237-76621808-3781reponame:Revista Catarinense da Ciência Contábil (Online)instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC)instacron:CRCSCporhttps://revista.crcsc.org.br/index.php/CRCSC/article/view/2152/1878Copyright (c) 2016 Revista Catarinense da Ciência Contábilhttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessMoura, Geovanne Dias deMacêdo, Francisca Francivânia Rodrigues RibeiroMazzioni, SadyKruger, Silvana Dalmutt2024-03-08T18:58:44Zoai:ojs.pkp.sfu.ca:article/2152Revistahttp://www.atena.org.br/revista/ojs-2.2.3-06/index.php/crcscPRIhttp://revista.crcsc.org.br/revista/ojs-2.2.3-06/index.php/CRCSC/oai||revista@crcsc.org.br2237-76621808-3781opendoar:2024-03-08T18:58:44Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC)false
dc.title.none.fl_str_mv Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
Análise da relação entre gerenciamento de resultados e custo de capital em empresas brasileiras listadas na BM&FBOVESPA
title Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
spellingShingle Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
Moura, Geovanne Dias de
Results-based management
Cost of equity
Cost of third party
Brazilian companies
BM&FBovespa.
Gerenciamento de resultados
Custo de capital próprio
Custo de capital de terceiros
Empresas brasileiras
BM&FBovespa.
title_short Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
title_full Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
title_fullStr Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
title_full_unstemmed Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
title_sort Analysis of the relationship between results-based management and cost of equity in Brazilian companies listed in BM&FBOVESPA
author Moura, Geovanne Dias de
author_facet Moura, Geovanne Dias de
Macêdo, Francisca Francivânia Rodrigues Ribeiro
Mazzioni, Sady
Kruger, Silvana Dalmutt
author_role author
author2 Macêdo, Francisca Francivânia Rodrigues Ribeiro
Mazzioni, Sady
Kruger, Silvana Dalmutt
author2_role author
author
author
dc.contributor.author.fl_str_mv Moura, Geovanne Dias de
Macêdo, Francisca Francivânia Rodrigues Ribeiro
Mazzioni, Sady
Kruger, Silvana Dalmutt
dc.subject.por.fl_str_mv Results-based management
Cost of equity
Cost of third party
Brazilian companies
BM&FBovespa.
Gerenciamento de resultados
Custo de capital próprio
Custo de capital de terceiros
Empresas brasileiras
BM&FBovespa.
topic Results-based management
Cost of equity
Cost of third party
Brazilian companies
BM&FBovespa.
Gerenciamento de resultados
Custo de capital próprio
Custo de capital de terceiros
Empresas brasileiras
BM&FBovespa.
description The study aimed at analyzing the relationship between results-based management and the company's cost of equity and its third party in Brazilian companies listed in BM&FBovespa. To this end, a descriptive research was conducted through documentary analysis and quantitative analysis of the data from 2010 to 2013 from a sample of 217 companies. The results revealed that the cost of equity rose in the period of 2010 to 2013. With respect to the cost of third party, when analyzed by Kd variable, it was found out a slight decrease from 31,81% to 28,37%. When analyzing the cost of third party by Ki variable, it was noticed an increase from 23,94% to 30,13% between 2010 and 2013. As for management, the results showed significance for the low proportion managements, especially since 2011. The results also showed that, among the analyzed companies, those with lower results-based management did not have lower cost of equity and third party.
publishDate 2016
dc.date.none.fl_str_mv 2016-04-06
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://revista.crcsc.org.br/index.php/CRCSC/article/view/2152
10.16930/2237-7662/rccc.v15n44p9-23
url https://revista.crcsc.org.br/index.php/CRCSC/article/view/2152
identifier_str_mv 10.16930/2237-7662/rccc.v15n44p9-23
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://revista.crcsc.org.br/index.php/CRCSC/article/view/2152/1878
dc.rights.driver.fl_str_mv Copyright (c) 2016 Revista Catarinense da Ciência Contábil
https://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2016 Revista Catarinense da Ciência Contábil
https://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Conselho Regional de Contabilidade de Santa Catarina
publisher.none.fl_str_mv Conselho Regional de Contabilidade de Santa Catarina
dc.source.none.fl_str_mv Revista Catarinense da Ciência Contábil; Vol. 15 No. 44 (2016): Janeiro-Abril; p. 09-23
Revista Catarinense da Ciência Contábil; v. 15 n. 44 (2016): Janeiro-Abril; p. 09-23
2237-7662
1808-3781
reponame:Revista Catarinense da Ciência Contábil (Online)
instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC)
instacron:CRCSC
instname_str Conselho Regional de Contabilidade de Santa Catarina (CRCSC)
instacron_str CRCSC
institution CRCSC
reponame_str Revista Catarinense da Ciência Contábil (Online)
collection Revista Catarinense da Ciência Contábil (Online)
repository.name.fl_str_mv Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC)
repository.mail.fl_str_mv ||revista@crcsc.org.br
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