DEBT AND PROFIT: A STUDY IN FAMILY BUSINESSES AND NON-FAMILY THAT COMPOSE THE INDEX OF IBRX-100 BOVESPA.

• Autor(a) principal: Scarpin, Jorge Eduardo
• Data de Publicação: 2012
• Outros Autores: Almeida, Dalci Mendes, Machado, Débora Gomes
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Ambiente Contábil
• Texto Completo: https://periodicos.ufrn.br/ambiente/article/view/2141
• topic: Endividamento. Lucratividade. Gestão familiar.; Empresas Familiares

The aim of this study was to examine whether there is a difference between debt and profitability in familiar and unfamiliar companies in Brazil, listed on the BM&FBovespa, Brazil that make up the index-100. Several factors influence the capital structure of enterprises, among which are reported in the literature: the forms of management, cultural characteristics, stage of development where the company is. The premise assumed by this study is that family businesses have characteristics adhering to conservative management and are therefore less prone to risk. This assumption emerged two hypotheses tested in the study. The survey was developed by deductive reasoning and is characterized as descriptive, document and quantitative. The sample consists of 74 companies and data analysis included the period of three years, from 2007 to 2009. Data collection was based on the content analysis of financial statements, and data analysis was performed using logistic regression in an attempt to verify the association of variables. After analyzing the results based on 219 observations, 58 companies under family management and 161 non-family, one can infer that a family-run does not influence the debt and the company's profitability.Keywords: Debt. Profitability. Family management.