THE INFLUENCE OF STATE-OWNED ON THE PERFORMANCE OF FIRMS IN THE BRAZILIAN CAPITAL MARKET

Detalhes bibliográficos
Autor(a) principal: Santos, Leandro da Costa
Data de Publicação: 2024
Outros Autores: Machado, Márcia Reis
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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spelling 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)
instacron_str FURB
institution 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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