Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira
Autor(a) principal: | |
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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 |
Resumo: | 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. |
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Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileiraAdministração - Indicadores de desempenhoDesempenho financeiroIndicadores de rentabilidadeCovid-19PandemiaAdministration - Performance indicatorsFinance performanceProfitability indicatorsPandemicCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAOOn 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.NenhumaEm 11 de março de 2020 foi declarada, oficialmente, pela OMS a pandemia causada pelo vírus da Covid-19, popularmente, conhecido como coronavírus, tendo sérios impactos na saúde, economia, transportes e outras áreas de diferentes empresas. Em decorrência das medidas de fechamento e isolamento social necessárias para evitar a contaminação pelo vírus, empresas em todo o globo têm passado por significativas dificuldades para manter a continuidade de suas atividades. Sendo assim, a pandemia de Covid-19 não representa apenas um problema de saúde pública, mas também econômico. As medidas tomadas pelas empresas e governos geraram efeitos que podem ser identificados pela análise dos relatórios das Demonstrações Financeiras das organizações. Dessa forma, este trabalho teve o intuito de verificar como a pandemia de Covid-19 afetou a rentabilidade financeira de uma amostra de 190 empresas listadas na Bolsa de Valores Brasileira durante o período de 2017 a 2021, utilizando um conjunto de regressões do modelo de mínimos quadrados com variáveis dummies para efeitos fixos e de diferenças em diferenças, tendo como variáveis dependentes os indicadores de rentabilidade ROA, ROE e ROIC. O primeiro modelo foi aplicado nas regressões com a finalidade de entender o impacto da pandemia atrelado a taxa de investimento em ativos fixos e ao volume de receitas das empresas, visando verificar as hipóteses de que quando as empresas têm investimentos em menor escala ou geram receitas em menor escala, o impacto negativo da pandemia da Covid-19 no desempenho financeiro é mais proeminente, sendo essas as hipóteses H1 e H2. Já o segundo modelo foi utilizado para verificar o impacto da Covid-19 nas empresas que compõem o grupo de alto impacto, ou seja, das companhias que sofreram sanções do Governo, devido as suas atividades estarem envolvidas com contato direto ao público ou por não serem de áreas ligadas à subsistência, sendo essa a H3. Os resultados obtidos foram inconsistentes para as hipóteses H1 e H2, sendo a primeira rejeitada paras as três variáveis dependentes e a segunda não pode ser rejeitada em apensas um caso. Já para a H3 os resultados sugeriram que ela não pode ser rejeitada. Dessa forma, conclui-se que a pandemia teve um impacto negativo na rentabilidade financeira de empresas dos setores de alto impacto, tais como: Transporte, Tecidos, Vestuário e Calçados, Telecomunicações, Viagens e Lazer.Universidade Federal da ParaíbaBrasilAdministraçãoPrograma de Pós-Graduação em AdministraçãoUFPBSilva, Magno Vamberto Batista dahttp://lattes.cnpq.br/7458064916360636Lima, Lynda Lee Batista dos Santos2023-04-10T19:18:33Z2024-03-102023-04-10T19:18:33Z2023-02-23info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesishttps://repositorio.ufpb.br/jspui/handle/123456789/26694porAttribution-NoDerivs 3.0 Brazilhttp://creativecommons.org/licenses/by-nd/3.0/br/info:eu-repo/semantics/embargoedAccessreponame:Biblioteca Digital de Teses e Dissertações da UFPBinstname:Universidade Federal da Paraíba (UFPB)instacron:UFPB2023-05-22T11:58:28Zoai:repositorio.ufpb.br:123456789/26694Biblioteca Digital de Teses e Dissertaçõeshttps://repositorio.ufpb.br/PUBhttp://tede.biblioteca.ufpb.br:8080/oai/requestdiretoria@ufpb.br|| diretoria@ufpb.bropendoar:2023-05-22T11:58:28Biblioteca Digital de Teses e Dissertações da UFPB - Universidade Federal da Paraíba (UFPB)false |
dc.title.none.fl_str_mv |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
title |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
spellingShingle |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira Lima, Lynda Lee Batista dos Santos 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 |
title_short |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
title_full |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
title_fullStr |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
title_full_unstemmed |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
title_sort |
Efeito da pandemia de Covid-19 sobre o desempenho financeiro de empresas listadas na bolsa de valores brasileira |
author |
Lima, Lynda Lee Batista dos Santos |
author_facet |
Lima, Lynda Lee Batista dos Santos |
author_role |
author |
dc.contributor.none.fl_str_mv |
Silva, Magno Vamberto Batista da http://lattes.cnpq.br/7458064916360636 |
dc.contributor.author.fl_str_mv |
Lima, Lynda Lee Batista dos Santos |
dc.subject.por.fl_str_mv |
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 |
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 |
description |
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. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-04-10T19:18:33Z 2023-04-10T19:18:33Z 2023-02-23 2024-03-10 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
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https://repositorio.ufpb.br/jspui/handle/123456789/26694 |
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https://repositorio.ufpb.br/jspui/handle/123456789/26694 |
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por |
language |
por |
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Attribution-NoDerivs 3.0 Brazil http://creativecommons.org/licenses/by-nd/3.0/br/ info:eu-repo/semantics/embargoedAccess |
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Attribution-NoDerivs 3.0 Brazil http://creativecommons.org/licenses/by-nd/3.0/br/ |
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dc.publisher.none.fl_str_mv |
Universidade Federal da Paraíba Brasil Administração Programa de Pós-Graduação em Administração UFPB |
publisher.none.fl_str_mv |
Universidade Federal da Paraíba Brasil Administração Programa de Pós-Graduação em Administração UFPB |
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reponame:Biblioteca Digital de Teses e Dissertações da UFPB instname:Universidade Federal da Paraíba (UFPB) instacron:UFPB |
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Universidade Federal da Paraíba (UFPB) |
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Biblioteca Digital de Teses e Dissertações da UFPB |
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Biblioteca Digital de Teses e Dissertações da UFPB |
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Biblioteca Digital de Teses e Dissertações da UFPB - Universidade Federal da Paraíba (UFPB) |
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diretoria@ufpb.br|| diretoria@ufpb.br |
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