Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira

• Autor(a) principal: Lima, Lynda Lee Batista dos Santos
• Data de Publicação: 2023
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Biblioteca Digital de Teses e Dissertações da UFPB
• Texto Completo: https://repositorio.ufpb.br/jspui/handle/123456789/26694
• topic: Administração - Indicadores de desempenho; Desempenho financeiro; Indicadores de rentabilidade; Covid-19; Pandemia; Administration - Performance indicators; Finance performance; Profitability indicators; Pandemic; CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO

On March 11, 2020, was declared, officially by the World Health Organisation (WHO), the pandemic caused by the Covid-19 virus, usually known as coronavirus, having serious impacts on health, economy, transportation, and other areas of different companies. As a result of the closure and social isolation measures necessary to avoid contamination by the virus, companies around the world have gone through significant difficulties to maintain the continuity of their activities. Therefore, the Covid-19 pandemic represents not only a public health problem, but also an economic one. The measures taken by companies and governments have generated effects that can be identified by the analysis of organizations’ Financial Statements’ reports. Thus, this work aimed to verify how the Covid-19 pandemic affected the financial profitability of a 190 companies’ sample listed on the Brazilian Stock Exchange during the period from 2017 to 2021, using a set of regressions of the Ordinary Least Squares (OLS) method with dummies variables for fixed effects and differences in differences (DID), having as dependent variables the profitability indicators ROA, ROE and ROIC. The first model was applied in the regressions in order to understand the impact of the pandemic linked to the investment rate in fixed assets and to the volume of business revenues, in order to verify the hypotheses that when companies have investments on a smaller scale or generate revenues on a smaller scale, the negative impact of the Covid-19 pandemic on the financial performance is more prominent, these being the hypotheses H1 and H2. The second model was used to verify the impact of Covid-19 on the companies that make up the high-impact group, that is, companies that have suffered government sanctions, because their activities are involved with direct contact with the public or because they are not from areas linked to subsistence, this being H3. The results obtained were inconsistent for the hypotheses H1 and H2, the first being rejected for the three dependent variables and the second cannot be rejected in just one case. As for H3, the results suggested that it cannot be rejected. Therefore, it is concluded that the pandemic had a negative impact on the financial profitability of companies in high-impact sectors, such as: Transportation, Fabrics, Clothing and Shoes, Telecommunications, Travel and Leisure.