The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais

Detalhes bibliográficos
Autor(a) principal: Mateus, Miguel Ângelo Folgado
Data de Publicação: 2016
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/14080
Resumo: Privatization of state-owned enterprises is a much debated subject and usually triggers different opinions and points of view within the Portuguese society. In the last decades several firms were affected by this process, including REN - Redes Energéticas Nacionais. Furthermore, using official data and within the period between 2010 and 2015, a set of financial indicators was analysed in order to conclude about the impact of privatization on this firm’s financial results. The results indicate that, in the short-term, this process had only a significant impact on the increase of the Total Assets value and subsequently a significant decrease in the Asset Turnover Ratio. Concerning the remaining ratios, associated to REN’s financial performance, none of them suffered any significant effect despite some slight improvements on some indicators. These conclusions could be useful for individuals in companies’ financial departments, which were or may be privatized as well as for investors.
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spelling The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionaisGestão financeiraPrivatizaçãoEmpresa públicaIndicadores de desempenhoPerformancePerformancePrivatizationPost PrivatizationCorporate FinancePós-PrivatizaçãoPrivatization of state-owned enterprises is a much debated subject and usually triggers different opinions and points of view within the Portuguese society. In the last decades several firms were affected by this process, including REN - Redes Energéticas Nacionais. Furthermore, using official data and within the period between 2010 and 2015, a set of financial indicators was analysed in order to conclude about the impact of privatization on this firm’s financial results. The results indicate that, in the short-term, this process had only a significant impact on the increase of the Total Assets value and subsequently a significant decrease in the Asset Turnover Ratio. Concerning the remaining ratios, associated to REN’s financial performance, none of them suffered any significant effect despite some slight improvements on some indicators. These conclusions could be useful for individuals in companies’ financial departments, which were or may be privatized as well as for investors.A privatização de instituições públicas é um tema muito debatido e com capacidade de gerar um vasto leque de opiniões e críticas nos vários setores da sociedade Portuguesa. Sendo que, nas últimas décadas, várias empresas foram alvo deste tipo de processo, incluindo a REN – Redes Energéticas Nacionais. Assim, recorrendo a dados oficiais e no período compreendido entre 2010 e 2015, foi analisado um conjunto de indicadores financeiros, com o intuito de concluir sobre o impacto da privatização nos resultados financeiros desta empresa em específico. Os resultados indicam que a curto prazo este processo apenas teve como impacto significativo um aumento do valor total do Ativo e como consequência, uma diminuição significativa no Asset Turnover. Relativamente aos restantes rácios, respeitantes à performance financeira da REN, nenhum outro sofreu quaisquer efeitos significativos, apesar de ligeiras melhorias em alguns indicadores. Estas conclusões poderão ser úteis para elementos de estruturas financeiras de empresas que foram ou poderão vir a ser privatizadas, bem como a investidores.2017-07-19T11:26:11Z2016-01-01T00:00:00Z20162016-09info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/14080TID:201482282engMateus, Miguel Ângelo Folgadoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:40:09Zoai:repositorio.iscte-iul.pt:10071/14080Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:18:33.623410Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
title The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
spellingShingle The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
Mateus, Miguel Ângelo Folgado
Gestão financeira
Privatização
Empresa pública
Indicadores de desempenho
Performance
Performance
Privatization
Post Privatization
Corporate Finance
Pós-Privatização
title_short The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
title_full The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
title_fullStr The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
title_full_unstemmed The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
title_sort The impact of privatization on firms’ financial performance: an analysis to REN – redes energéticas nacionais
author Mateus, Miguel Ângelo Folgado
author_facet Mateus, Miguel Ângelo Folgado
author_role author
dc.contributor.author.fl_str_mv Mateus, Miguel Ângelo Folgado
dc.subject.por.fl_str_mv Gestão financeira
Privatização
Empresa pública
Indicadores de desempenho
Performance
Performance
Privatization
Post Privatization
Corporate Finance
Pós-Privatização
topic Gestão financeira
Privatização
Empresa pública
Indicadores de desempenho
Performance
Performance
Privatization
Post Privatization
Corporate Finance
Pós-Privatização
description Privatization of state-owned enterprises is a much debated subject and usually triggers different opinions and points of view within the Portuguese society. In the last decades several firms were affected by this process, including REN - Redes Energéticas Nacionais. Furthermore, using official data and within the period between 2010 and 2015, a set of financial indicators was analysed in order to conclude about the impact of privatization on this firm’s financial results. The results indicate that, in the short-term, this process had only a significant impact on the increase of the Total Assets value and subsequently a significant decrease in the Asset Turnover Ratio. Concerning the remaining ratios, associated to REN’s financial performance, none of them suffered any significant effect despite some slight improvements on some indicators. These conclusions could be useful for individuals in companies’ financial departments, which were or may be privatized as well as for investors.
publishDate 2016
dc.date.none.fl_str_mv 2016-01-01T00:00:00Z
2016
2016-09
2017-07-19T11:26:11Z
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dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/14080
TID:201482282
url http://hdl.handle.net/10071/14080
identifier_str_mv TID:201482282
dc.language.iso.fl_str_mv eng
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instacron:RCAAP
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repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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