Modelagem multiatributos aplicada à avaliação do desempenho econômico-financeiro de empresas

• Autor(a) principal: Gartner,Ivan Ricardo
• Data de Publicação: 2010
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Pesquisa operacional (Online)
• Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-74382010000300007
• topic: performance and corporate risk; multi-attribute methods; maximum entropy principle

This paper aims to present a methodology for modeling the corporate economic and financial performance. The methodology is based on multi-attribute methods that are applied in the aggregation of economic and financial indicators. The weights of these indicators are obtained by the principle of maximum entropy, with the intention of making an objective and non-biased analysis. The methodology is applied to a sample of Brazilian companies of electric power in the period from 2003 to 2007 and the results are analyzed using a scale of ten categories of risk. The results show that, in the last two years, more than 85% of the sample firms are in a range of low-risk in that industry. The methodology proves to be valid as an alternative to correlation studies and to support the formulation of industry performance restrictions for problems of portfolio optimization, resource allocation and credit analysis.