Asset divestments, economic crisis, and the future performance of companies
Autor(a) principal: | |
---|---|
Data de Publicação: | 2022 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng por |
Título da fonte: | Contextus (Fortaleza. Online) |
Texto Completo: | http://periodicos.ufc.br/contextus/article/view/78644 |
Resumo: | This paper investigated the impact of asset divestments made by financially constrained companies on their future performance, as well as their potential for reversing past losses. After applying the pairing of the companies listed, the estimation of the relationships of the variables took place through GMM and LOGIT. The research findings indicate that there is evidence that the sale of assets by companies with financial constraints contributes to future performance. A contribution of this research is for managers who have empirical results that have not yet been discussed in the Brazilian literature and that can serve as support in decision-making on the policy of selling or maintaining assets. |
id |
UFC-12_265680e69cbcd6a2e36974a93f11ec07 |
---|---|
oai_identifier_str |
oai:periodicos.ufc:article/78644 |
network_acronym_str |
UFC-12 |
network_name_str |
Contextus (Fortaleza. Online) |
repository_id_str |
|
spelling |
Asset divestments, economic crisis, and the future performance of companiesDesinversión de activos, crisis económica y rendimiento futuro de las empresasDesinvestimentos de ativos, crise econômica e o desempenho futuro das empresaseconomic crisisfinancial restrictionsperformanceinvestmentsdivestmentscrisis económicalimitaciones financierasrendimientoinversionesdesinversionescrise econômicarestrições financeirasdesempenhoinvestimentosdesinvestimentosThis paper investigated the impact of asset divestments made by financially constrained companies on their future performance, as well as their potential for reversing past losses. After applying the pairing of the companies listed, the estimation of the relationships of the variables took place through GMM and LOGIT. The research findings indicate that there is evidence that the sale of assets by companies with financial constraints contributes to future performance. A contribution of this research is for managers who have empirical results that have not yet been discussed in the Brazilian literature and that can serve as support in decision-making on the policy of selling or maintaining assets.La investigación analizó el impacto de las desinversiones de activos realizadas por empresas con limitaciones financieras en el rendimiento futuro, así como su potencial para revertir pérdidas pasadas. Luego de aplicar el emparejamiento de las empresas, se realizó la estimación de las relaciones de las variables a través de GMM y LOGIT. De esta investigación indican que existe evidencia de que la venta de activos por parte de empresas con restricciones financieras contribuye al desempeño futuro. Una contribución de esta investigación es para los administradores que tienen resultados empíricos que aún no han sido discutidos en la literatura brasileña y que pueden servir de apoyo en la toma de decisiones sobre la política de venta o mantenimiento de activos.A pesquisa investigou o impacto dos desinvestimentos de ativos realizados por empresas comrestriçõesfinanceiras sobre o desempenho futuro, bem como seu potencial de reversão de prejuízos passados. Após aplicação de pareamento das empresas listadas na B3, as estimações das relações das variáveis deram-se por meio de GMM e LOGIT. Os achados da pesquisa indicam aumento da probabilidade de reversão prejuízos passados por empresas jovens em função da venda de ativos. Uma contribuição desta pesquisa é para os gestores que têm resultados empíricos ainda não discutidos na literatura brasileira e que podem servir de suporte na tomada de decisão sobre a política de venda ou de manutenção de ativos.FEAAC/UFC2022-09-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfapplication/ziphttp://periodicos.ufc.br/contextus/article/view/7864410.19094/contextus.2022.78644Contextus - Contemporary Journal of Economics and Management; Vol 20: jan/dec 2022; 266-279Contextus – Revista Contemporánea de Economía y Gestión; Vol. 20: jan/dez 2022; 266-279Contextus – Revista Contemporânea de Economia e Gestão; v. 20: jan/dez 2022; 266-2792178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCengporhttp://periodicos.ufc.br/contextus/article/view/78644/226488http://periodicos.ufc.br/contextus/article/view/78644/226489http://periodicos.ufc.br/contextus/article/view/78644/226490http://periodicos.ufc.br/contextus/article/view/78644/226491http://periodicos.ufc.br/contextus/article/view/78644/226492http://periodicos.ufc.br/contextus/article/view/78644/226493Copyright (c) 2022 Revista: apenas para a 1a. publicaçãohttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessDias de Moraes, Simone Neris Nossa, SilvaniaCardoso Moreira, Nádia Vianna Brugni , Talles 2022-09-20T11:17:58Zoai:periodicos.ufc:article/78644Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2022-09-20T11:17:58Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false |
dc.title.none.fl_str_mv |
Asset divestments, economic crisis, and the future performance of companies Desinversión de activos, crisis económica y rendimiento futuro de las empresas Desinvestimentos de ativos, crise econômica e o desempenho futuro das empresas |
title |
Asset divestments, economic crisis, and the future performance of companies |
spellingShingle |
Asset divestments, economic crisis, and the future performance of companies Dias de Moraes, Simone economic crisis financial restrictions performance investments divestments crisis económica limitaciones financieras rendimiento inversiones desinversiones crise econômica restrições financeiras desempenho investimentos desinvestimentos |
title_short |
Asset divestments, economic crisis, and the future performance of companies |
title_full |
Asset divestments, economic crisis, and the future performance of companies |
title_fullStr |
Asset divestments, economic crisis, and the future performance of companies |
title_full_unstemmed |
Asset divestments, economic crisis, and the future performance of companies |
title_sort |
Asset divestments, economic crisis, and the future performance of companies |
author |
Dias de Moraes, Simone |
author_facet |
Dias de Moraes, Simone Neris Nossa, Silvania Cardoso Moreira, Nádia Vianna Brugni , Talles |
author_role |
author |
author2 |
Neris Nossa, Silvania Cardoso Moreira, Nádia Vianna Brugni , Talles |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Dias de Moraes, Simone Neris Nossa, Silvania Cardoso Moreira, Nádia Vianna Brugni , Talles |
dc.subject.por.fl_str_mv |
economic crisis financial restrictions performance investments divestments crisis económica limitaciones financieras rendimiento inversiones desinversiones crise econômica restrições financeiras desempenho investimentos desinvestimentos |
topic |
economic crisis financial restrictions performance investments divestments crisis económica limitaciones financieras rendimiento inversiones desinversiones crise econômica restrições financeiras desempenho investimentos desinvestimentos |
description |
This paper investigated the impact of asset divestments made by financially constrained companies on their future performance, as well as their potential for reversing past losses. After applying the pairing of the companies listed, the estimation of the relationships of the variables took place through GMM and LOGIT. The research findings indicate that there is evidence that the sale of assets by companies with financial constraints contributes to future performance. A contribution of this research is for managers who have empirical results that have not yet been discussed in the Brazilian literature and that can serve as support in decision-making on the policy of selling or maintaining assets. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-09-20 |
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 |
http://periodicos.ufc.br/contextus/article/view/78644 10.19094/contextus.2022.78644 |
url |
http://periodicos.ufc.br/contextus/article/view/78644 |
identifier_str_mv |
10.19094/contextus.2022.78644 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
http://periodicos.ufc.br/contextus/article/view/78644/226488 http://periodicos.ufc.br/contextus/article/view/78644/226489 http://periodicos.ufc.br/contextus/article/view/78644/226490 http://periodicos.ufc.br/contextus/article/view/78644/226491 http://periodicos.ufc.br/contextus/article/view/78644/226492 http://periodicos.ufc.br/contextus/article/view/78644/226493 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2022 Revista: apenas para a 1a. publicação http://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2022 Revista: apenas para a 1a. publicação http://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf application/zip |
dc.publisher.none.fl_str_mv |
FEAAC/UFC |
publisher.none.fl_str_mv |
FEAAC/UFC |
dc.source.none.fl_str_mv |
Contextus - Contemporary Journal of Economics and Management; Vol 20: jan/dec 2022; 266-279 Contextus – Revista Contemporánea de Economía y Gestión; Vol. 20: jan/dez 2022; 266-279 Contextus – Revista Contemporânea de Economia e Gestão; v. 20: jan/dez 2022; 266-279 2178-9258 1678-2089 reponame:Contextus (Fortaleza. Online) instname:Universidade Federal do Ceará (UFC) instacron:UFC |
instname_str |
Universidade Federal do Ceará (UFC) |
instacron_str |
UFC |
institution |
UFC |
reponame_str |
Contextus (Fortaleza. Online) |
collection |
Contextus (Fortaleza. Online) |
repository.name.fl_str_mv |
Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC) |
repository.mail.fl_str_mv |
revistacontextus@ufc.br |
_version_ |
1798045753626591232 |