NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL

Detalhes bibliográficos
Autor(a) principal: Attílio, Luccas Assis
Data de Publicação: 2019
Outros Autores: Cavalcante, Anderson
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059
Resumo: This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation.
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spelling NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZILEMPRESAS NÃO FINANCEIRAS E O IMPACTO DA ESTRATÉGIA MAXIMIZING SHAREHOLDER VALUE SOBRE O EMPREGO NO BRASILFinanceirizaçãoMaximizing Shareholder ValueEmpresas não-FinanceirasEmpregoG00G30E02J60FinancializationMaximizing shareholder valueNon-financial companiesEmploymentG00G30E02J60This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation.Esse artigo avalia a estratégia de maximizing shareholder value para uma amostra de empresas não financeiras de capital aberto entre 1997 e 2013 e estima seu impacto sobre o emprego em respectivos setores de atividade econômica. Para se estimar tais efeitos, utiliza-se o método de mínimos quadrados em dois estágios, com base na teoria da reação em cadeia. Os resultados indicam que o aumento da distribuição de dividendos, via maximizing shareholder value, tem efeitos negativos sobre o investimento produtivo, que, por sua vez, desacelera a criação de empregos.UFRGS2019-08-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/7405910.22456/2176-5456.74059Análise Econômica; Vol. 37 No. 73 (2019): Junho/2019Análise Econômica; v. 37 n. 73 (2019): Junho/20192176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059/53570Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessAttílio, Luccas AssisCavalcante, Anderson2020-06-29T21:35:38Zoai:seer.ufrgs.br:article/74059Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2020-06-29T21:35:38Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
EMPRESAS NÃO FINANCEIRAS E O IMPACTO DA ESTRATÉGIA MAXIMIZING SHAREHOLDER VALUE SOBRE O EMPREGO NO BRASIL
title NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
spellingShingle NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
Attílio, Luccas Assis
Financeirização
Maximizing Shareholder Value
Empresas não-Financeiras
Emprego
G00
G30
E02
J60
Financialization
Maximizing shareholder value
Non-financial companies
Employment
G00
G30
E02
J60
title_short NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
title_full NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
title_fullStr NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
title_full_unstemmed NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
title_sort NON-FINANCIAL FIRMS AND THE MAXIMIZING SHAREHOLDER VALUE STRATEGY IMPACTS OVER EMPLOYMENT IN BRAZIL
author Attílio, Luccas Assis
author_facet Attílio, Luccas Assis
Cavalcante, Anderson
author_role author
author2 Cavalcante, Anderson
author2_role author
dc.contributor.author.fl_str_mv Attílio, Luccas Assis
Cavalcante, Anderson
dc.subject.por.fl_str_mv Financeirização
Maximizing Shareholder Value
Empresas não-Financeiras
Emprego
G00
G30
E02
J60
Financialization
Maximizing shareholder value
Non-financial companies
Employment
G00
G30
E02
J60
topic Financeirização
Maximizing Shareholder Value
Empresas não-Financeiras
Emprego
G00
G30
E02
J60
Financialization
Maximizing shareholder value
Non-financial companies
Employment
G00
G30
E02
J60
description This article investigates the maximizing shareholder value strategy for a sampleof non-financial publicly held companies between 1997 and 2013. It also estimates the latterimpact over employment on firms’ respective sectors of activity. In order to estimate sucheffects the Two-Stage Least Squares method was used, with support the Chain ReactionTheory. Results indicate that increases in shared dividends, via maximizing shareholdervalue strategy, have negative effects over the productive investment in which, by its turn,slow down the employment creation.
publishDate 2019
dc.date.none.fl_str_mv 2019-08-05
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 https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059
10.22456/2176-5456.74059
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059
identifier_str_mv 10.22456/2176-5456.74059
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/74059/53570
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 37 No. 73 (2019): Junho/2019
Análise Econômica; v. 37 n. 73 (2019): Junho/2019
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
_version_ 1799766268074524672

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