Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/16817 |
Resumo: | This paper studies the operational, economic and market performance of Brazilian state-owned companies in the electricity distribution sector that were privatized from 1996 to 2000, comparing the results obtained in these three items, for these companies, before and after its privatization. Data analysis period is twenty years, taking as a basis the date of privatization of each company object of the study, backward and forward ten years from that date basis, except in the case of companies whose registration date public company with the CVM, occurred in less than ten years in relation to the dates of their privatization. This paper evaluates these privatized firms are operationally more efficient in relation to its operating performance previous to its privatization; if there was an improvement of the economic indicators of the same making it most profitable companies; and improved market indicators of these companies. Applied hypothesis tests revealed that the operational indicators, and the ratio Sales per Share showed improvement, but there was no evidence to relate these advances to the privatization process. With regard to profit margins, profitability ratios and other market indicators (LPA and VPA), there was no statistical evidence that the privatization impacted positively. |
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Silva, Marcelo Antônio Manget daEscolas::EESPRochman, Ricardo RatnerCaselani, César NazarenoMartins-da-Rocha, Victor Filipe2016-08-24T15:11:39Z2016-08-24T15:11:39Z2016-07-26SILVA, Marcelo Antônio Manget da. Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.http://hdl.handle.net/10438/16817This paper studies the operational, economic and market performance of Brazilian state-owned companies in the electricity distribution sector that were privatized from 1996 to 2000, comparing the results obtained in these three items, for these companies, before and after its privatization. Data analysis period is twenty years, taking as a basis the date of privatization of each company object of the study, backward and forward ten years from that date basis, except in the case of companies whose registration date public company with the CVM, occurred in less than ten years in relation to the dates of their privatization. This paper evaluates these privatized firms are operationally more efficient in relation to its operating performance previous to its privatization; if there was an improvement of the economic indicators of the same making it most profitable companies; and improved market indicators of these companies. Applied hypothesis tests revealed that the operational indicators, and the ratio Sales per Share showed improvement, but there was no evidence to relate these advances to the privatization process. With regard to profit margins, profitability ratios and other market indicators (LPA and VPA), there was no statistical evidence that the privatization impacted positively.O presente trabalho estuda o desempenho operacional, econômico e de mercado de companhias estatais brasileiras do setor de distribuição de energia elétrica que foram privatizadas no período de 1996 a 2000, comparando os resultados obtidos, nestes três quesitos, por essas empresas anterior e posteriormente às suas desestatizações. O período de análise dos dados é de vinte anos, tomando-se por base a data de privatização de cada empresa objeto do estudo, retrocedendo e avançando dez anos a partir desta data-base, exceto no caso das empresas, cuja data de registro de companhia aberta na CVM, tenha ocorrido em tempo inferior a dez anos em relação às datas de suas privatizações. Avaliou-se se essas estatais privatizadas são operacionalmente mais eficientes em relação ao seu desempenho operacional anterior à privatização; se houve melhoria dos indicadores econômicos das mesmas tornando-as empresas mais rentáveis; e se melhoraram os indicadores de mercado dessas companhias. Testes de hipóteses aplicados revelaram que os indicadores operacionais, e o quociente Vendas por Ação apresentaram melhoras, mas não houve comprovações que relacionassem esses avanços ao processo de privatização. Relativamente aos índices de lucratividade, rentabilidade e os demais indicadores de mercado (LPA e VPA), não houve evidências estatísticas de que a desestatização os impactou positivamente.porSetor de distribuição de energia elétrica brasileiroIndicadores operacionais e de mercadoEconomiaEnergia elétrica - DistribuiçãoPrivatização - BrasilIndicadores econômicos - BrasilDesempenho - AvaliaçãoAnálise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétricainfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXTDISSERTACAO_FUNDACAO GETULIO VARGAS_FINAL.pdf.txtDISSERTACAO_FUNDACAO GETULIO VARGAS_FINAL.pdf.txtExtracted 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|
dc.title.por.fl_str_mv |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
title |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
spellingShingle |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica Silva, Marcelo Antônio Manget da Setor de distribuição de energia elétrica brasileiro Indicadores operacionais e de mercado Economia Energia elétrica - Distribuição Privatização - Brasil Indicadores econômicos - Brasil Desempenho - Avaliação |
title_short |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
title_full |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
title_fullStr |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
title_full_unstemmed |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
title_sort |
Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica |
author |
Silva, Marcelo Antônio Manget da |
author_facet |
Silva, Marcelo Antônio Manget da |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EESP |
dc.contributor.member.none.fl_str_mv |
Rochman, Ricardo Ratner Caselani, César Nazareno |
dc.contributor.author.fl_str_mv |
Silva, Marcelo Antônio Manget da |
dc.contributor.advisor1.fl_str_mv |
Martins-da-Rocha, Victor Filipe |
contributor_str_mv |
Martins-da-Rocha, Victor Filipe |
dc.subject.por.fl_str_mv |
Setor de distribuição de energia elétrica brasileiro Indicadores operacionais e de mercado |
topic |
Setor de distribuição de energia elétrica brasileiro Indicadores operacionais e de mercado Economia Energia elétrica - Distribuição Privatização - Brasil Indicadores econômicos - Brasil Desempenho - Avaliação |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Energia elétrica - Distribuição Privatização - Brasil Indicadores econômicos - Brasil Desempenho - Avaliação |
description |
This paper studies the operational, economic and market performance of Brazilian state-owned companies in the electricity distribution sector that were privatized from 1996 to 2000, comparing the results obtained in these three items, for these companies, before and after its privatization. Data analysis period is twenty years, taking as a basis the date of privatization of each company object of the study, backward and forward ten years from that date basis, except in the case of companies whose registration date public company with the CVM, occurred in less than ten years in relation to the dates of their privatization. This paper evaluates these privatized firms are operationally more efficient in relation to its operating performance previous to its privatization; if there was an improvement of the economic indicators of the same making it most profitable companies; and improved market indicators of these companies. Applied hypothesis tests revealed that the operational indicators, and the ratio Sales per Share showed improvement, but there was no evidence to relate these advances to the privatization process. With regard to profit margins, profitability ratios and other market indicators (LPA and VPA), there was no statistical evidence that the privatization impacted positively. |
publishDate |
2016 |
dc.date.accessioned.fl_str_mv |
2016-08-24T15:11:39Z |
dc.date.available.fl_str_mv |
2016-08-24T15:11:39Z |
dc.date.issued.fl_str_mv |
2016-07-26 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
SILVA, Marcelo Antônio Manget da. Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016. |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/16817 |
identifier_str_mv |
SILVA, Marcelo Antônio Manget da. Análise comparativa do desempenho operacional, econômico e de mercado entre os períodos pré e pós-privatização das companhias brasileiras de distribuição de energia elétrica. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016. |
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http://hdl.handle.net/10438/16817 |
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