ANALYSIS OF RELEVANCE OF FINANCIAL AND NON FINANCIAL RATIOS WHEN EVALUATING ORGANIZATIONAL PERFORMANCE: A STUDY IN THE BRAZILIAN ELECTRICITY DISTRIBUTION SECTOR

• Autor(a) principal: Ribeiro, Maitê Garcia Cruz
• Data de Publicação: 2012
• Outros Autores: Macedo, Marcelo Alvaro da Silva, Marques, José Augusto Veiga da Costa
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista de contabilidade e organizações
• Texto Completo: https://www.revistas.usp.br/rco/article/view/52657
• topic: Desempenho Organizacional; Indicadores Financeiros; Indicadores Não Financeiros.; Organizational Performance; Financial Ratios; Non Financial Ratios.

This article aims to analyze the relevance of financial and nonfinancial ratios in the evaluation of organizational performance of companies in the Brazilian electricity distribution sector. In this regard, an exploratory study was conducted, using Delphi and Analytic Hierarchy Process (AHP) techniques. The results show that, in relation to the financial perspective, the most important indicator is the Interest Coverage, followed by Return on Equity and Debt Profile. Those three major ratios represent approximately 60% of the total importance of the financial perspective. In the operational perspective, a balance between the ratios is observed, with a slight advantage for the EBITDA margin, FEC e DEC ratios. Finally, the analysis of socioenvironmental perspective shows that the Environmental Commitment Rate and the Aggregate Profitability of Investments are, respectively, the two most important ratios, which, together represent approximately 62% of all social and environmental perspective importance.