Please use this identifier to cite or link to this item: http://repositorio.ufla.br/jspui/handle/1/35522
Title: Impactos da oferta pública inicial de ações no desempenho econômico-financeiro de empresas brasileiras na B3
Other Titles: Impacts of the initial public offer of shares in economic and financial performance of brazilian companies in B3
Keywords: Decisões de financiamento
Mercado de capitais
IPO
Desempenho de empresas
Financing decisions
Capital market
Performance of companies
Initial Public Offering (IPO)
Issue Date: Apr-2018
Publisher: Editora Unoesc
Citation: KALIL, J. P. A.; BENEDICTO, G. C. de. Impactos da oferta pública inicial de ações no desempenho econômico-financeiro de empresas brasileiras na B3. RACE, Joaçaba, v. 17, n. 1, p. 197-224, jan./abr. 2018. DOI: 10.18593/race.v17i1.1631.
Abstract: The article aimed to discuss the impacts of the IPO on the economic-financial performance of Brazilian companies listed in B3. These impacts were analyzed in terms of: sales growth; profitability of assets; return on shareholders' equity; and profitability of sales. In order to reach the objectives, the database of the companies that carried out the IPO between 2008 and 2013 was used. The research presented theoretical foundations and information from researches and institutions, including literature review, financing decisions, initial public offering of stock and economic-financial performance of companies through indicators. The methodology, in general, was an explicative and quantitative research. The financial statements were collected through the financial reports available on each company's website and also on the B3 website. The final sample included 28 companies of different sizes and sectors. More specifically, a multivariate statistical methodology was used with multiple linear regression econometric models in panel data. Based on this discussion, the results suggest that the IPO generated a positive impact on the growth of net sales revenues. On the other hand, the IPO resulted in a negative impact on the performance of companies in terms of the profitability of assets and shareholders' equity. Finally, the IPO variable was not significant in the sales profitability model measured by the net margin.
URI: http://repositorio.ufla.br/jspui/handle/1/35522
Appears in Collections:DAE - Artigos publicados em periódicos



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