THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET
Autor(a) principal: | |
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Data de Publicação: | 2024 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Universo Contábil |
Texto Completo: | https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/8822 |
Resumo: | The objective of this research was to analyze the influence of State-Owned on the performance of firms. It was based on the theories of Property rights, Transaction Cost, and Agency, which combined provided a more precise view of this dynamic topic. The analysis was carried out through hypothesis testing of the relation between State-Owned and the performance of the companies as represented by the Net Added Value. We analyzed the statistical relation by Pooled Ordinary Least-Squared regression, and as an empirical complement, we used quantile regression. The Pooled OLS and Quantile results converged and supported each other, evidencing that State property holds a positive and significant relation with the performance of the companies analyzed, thus contributing to the improvement of the Net added value produced by those entities up to a certain point. The study's main contribution was to demonstrate empirically the influence of State-Owned on the performance of companies and to bring State property into the theoretical debate. |
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THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKETLA INFLUENCIA DE LA PROPRIEDAD ESTATAL EN EL RENDIMIENTO DE LAS EMPRESAS EN EL MERCADO DE CAPITALES BRASILEÑOA INFLUÊNCIA DA PROPRIEDADE ESTATAL NO DESEMPENHO DAS EMPRESAS NO MERCADO DE CAPITAIS BRASILEIROEstrutura de PropriedadeEmpresas EstataisTeoria dos Direitos de PropriedadeTeoria dos Custos de TransaçãoTeoria da Agência.Ownership StructureState-OwnedProperty Rights TheoryTransaction Costs TheoryAgency TheoryEstructura de PropriedadEmpresas EstatalesTeoria de los Derechos de PropriedadTeoria de los Costes de TransacciónTeoria de la AgenciaThe objective of this research was to analyze the influence of State-Owned on the performance of firms. It was based on the theories of Property rights, Transaction Cost, and Agency, which combined provided a more precise view of this dynamic topic. The analysis was carried out through hypothesis testing of the relation between State-Owned and the performance of the companies as represented by the Net Added Value. We analyzed the statistical relation by Pooled Ordinary Least-Squared regression, and as an empirical complement, we used quantile regression. The Pooled OLS and Quantile results converged and supported each other, evidencing that State property holds a positive and significant relation with the performance of the companies analyzed, thus contributing to the improvement of the Net added value produced by those entities up to a certain point. The study's main contribution was to demonstrate empirically the influence of State-Owned on the performance of companies and to bring State property into the theoretical debate.Esta investigación tuvo como objetivo analizar la influencia de la propriedad estatal en el rendimiento de las empresas y fue desarrollada basada en las teorias de Derechos de Propriedad, Coste de Transacción y Agencia, que en armonización, proporcionaron un panorama más preciso sobre este tema dinámico. El análisis fue conducido a través de una prueba de hipótesis de la relación entre la Propriedad Estatal (PE) y el rendimiento de las empresas representado por el Valor Agregado Líquido. La relación estadística fue realizada a través de la regresión en panel Pooled MQO y, como complemento empírico, se hizo uso también de la Regresión Quantílica. Los resultados de las regresiones Pooled MQO y Quantílica convergieron y se complementaron, dando evidencias de que la Propriedad Estatal (PE) tiene una relación positiva y significante con el rendimiento de las empresas analizadas, contribuyendo, de esa forma, para la mejoría de la generación de valor agregado en estas organizaciones, hasta un cierto límite. La principal contribución de esta investigación fue la de demostrar empíricamente la influencia de la propriedad estatal en el rendimiento de las empresas y traer para un debate teórico el lado empresarial del Estado.Esta pesquisa objetivou analisar a influência da propriedade estatal no desempenho das firmas e foi desenvolvida com base nas teorias de Direitos de Propriedade, Custo de Transação e Agência, que em alinhamento, proporcionaram um panorama mais preciso sobre este tema dinâmico. O exame foi conduzido através de teste de hipótese da relação entre a Propriedade Estatal (PE) e o desempenho das empresas representado pelo Valor Adicionado Líquido. A relação estatística foi realizada através da regressão em painel Pooled MQO, e, como complemento empírico, utilizou-se também a Regressão Quantílica. Os resultados das regressões pooled MQO e Quantílica convergiram e se complementaram, evidenciando que a Propriedade Estatal (PE) detém relação positiva e significante com o desempenho das empresas analisadas, contribuindo assim para a melhoria da geração de valor adicionado nestas entidades, até um certo limite. A principal contribuição do estudo foi a de demonstrar empiricamente a influência da propriedade estatal no desempenho das empresas e trazer para dentro do debate teórico o Estado em sua forma empresarial.Universidade Regional de Blumenau2024-04-17info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/882210.4270/ruc.2023112Revista Universo Contábil; v. 19 n. 1 (2023): Revista Universo Contábil 1809-33371809-3337reponame:Revista Universo Contábilinstname:Universidade Regional de Blumenau (FURB)instacron:FURBporhttps://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/8822/6114Copyright (c) 2024 Revista Universo Contábilinfo:eu-repo/semantics/openAccessSantos, Leandro da CostaMachado, Márcia Reis2024-04-17T20:53:24Zoai:ojs.bu.furb.br:article/8822Revistahttps://proxy.furb.br/ojs/index.php/universocontabil/PUBhttps://proxy.furb.br/ojs/index.php/universocontabil/oai||universocontabil@furb.br1809-33371809-3337opendoar:2024-04-17T20:53:24Revista Universo Contábil - Universidade Regional de Blumenau (FURB)false |
dc.title.none.fl_str_mv |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET LA INFLUENCIA DE LA PROPRIEDAD ESTATAL EN EL RENDIMIENTO DE LAS EMPRESAS EN EL MERCADO DE CAPITALES BRASILEÑO A INFLUÊNCIA DA PROPRIEDADE ESTATAL NO DESEMPENHO DAS EMPRESAS NO MERCADO DE CAPITAIS BRASILEIRO |
title |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
spellingShingle |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET Santos, Leandro da Costa Estrutura de Propriedade Empresas Estatais Teoria dos Direitos de Propriedade Teoria dos Custos de Transação Teoria da Agência. Ownership Structure State-Owned Property Rights Theory Transaction Costs Theory Agency Theory Estructura de Propriedad Empresas Estatales Teoria de los Derechos de Propriedad Teoria de los Costes de Transacción Teoria de la Agencia |
title_short |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
title_full |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
title_fullStr |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
title_full_unstemmed |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
title_sort |
THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET |
author |
Santos, Leandro da Costa |
author_facet |
Santos, Leandro da Costa Machado, Márcia Reis |
author_role |
author |
author2 |
Machado, Márcia Reis |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Santos, Leandro da Costa Machado, Márcia Reis |
dc.subject.por.fl_str_mv |
Estrutura de Propriedade Empresas Estatais Teoria dos Direitos de Propriedade Teoria dos Custos de Transação Teoria da Agência. Ownership Structure State-Owned Property Rights Theory Transaction Costs Theory Agency Theory Estructura de Propriedad Empresas Estatales Teoria de los Derechos de Propriedad Teoria de los Costes de Transacción Teoria de la Agencia |
topic |
Estrutura de Propriedade Empresas Estatais Teoria dos Direitos de Propriedade Teoria dos Custos de Transação Teoria da Agência. Ownership Structure State-Owned Property Rights Theory Transaction Costs Theory Agency Theory Estructura de Propriedad Empresas Estatales Teoria de los Derechos de Propriedad Teoria de los Costes de Transacción Teoria de la Agencia |
description |
The objective of this research was to analyze the influence of State-Owned on the performance of firms. It was based on the theories of Property rights, Transaction Cost, and Agency, which combined provided a more precise view of this dynamic topic. The analysis was carried out through hypothesis testing of the relation between State-Owned and the performance of the companies as represented by the Net Added Value. We analyzed the statistical relation by Pooled Ordinary Least-Squared regression, and as an empirical complement, we used quantile regression. The Pooled OLS and Quantile results converged and supported each other, evidencing that State property holds a positive and significant relation with the performance of the companies analyzed, thus contributing to the improvement of the Net added value produced by those entities up to a certain point. The study's main contribution was to demonstrate empirically the influence of State-Owned on the performance of companies and to bring State property into the theoretical debate. |
publishDate |
2024 |
dc.date.none.fl_str_mv |
2024-04-17 |
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://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/8822 10.4270/ruc.2023112 |
url |
https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/8822 |
identifier_str_mv |
10.4270/ruc.2023112 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/8822/6114 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2024 Revista Universo Contábil info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2024 Revista Universo Contábil |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Regional de Blumenau |
publisher.none.fl_str_mv |
Universidade Regional de Blumenau |
dc.source.none.fl_str_mv |
Revista Universo Contábil; v. 19 n. 1 (2023): Revista Universo Contábil 1809-3337 1809-3337 reponame:Revista Universo Contábil instname:Universidade Regional de Blumenau (FURB) instacron:FURB |
instname_str |
Universidade Regional de Blumenau (FURB) |
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FURB |
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FURB |
reponame_str |
Revista Universo Contábil |
collection |
Revista Universo Contábil |
repository.name.fl_str_mv |
Revista Universo Contábil - Universidade Regional de Blumenau (FURB) |
repository.mail.fl_str_mv |
||universocontabil@furb.br |
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1798945117777690624 |