Itzhak David Simão Kaveski

RELAÇÃO ENTRE O ÍNDICE DE SUSTENTABILIDADE E OS INDICADORES ECONÔMICO-FINANCEIROS DAS EMPRESAS DE ENERGIA BRASILEIRAS

Society is increasingly demanding that organizations consider the economic, social and environmental issues into their activities. With this, the information that involve sustainability practices gain importance. This study refers to the sustainability practices of companies generating and distributing energy in Brazil that are listed on the BM&FBovespa and has as objective to verify the influence between the sustainability index and the financial and economic indicators of energy companies listed on the BM&FBovespa. The sample consists of 31 companies that sent their sustainability reports in 2010 to Aneel. The methodology used was descriptive quantitative method, using the technical documentation, and multiple linear regression using the statistical software IBM ® SPSS ® version 21. For data collection, a checklist has been prepared to highlight the environmental, social and economic disclosed by companies. But it was also used Economatica for economic-financial variables. The results show that the financial and economic indicators of size, profitability and indebtedness of generating and distributing electricity Brazilian did not influence the level of disclosure of sustainability practices of these companies.

Análise do impacto dos repasses estaduais e federais no desenvolvimento dos municípios de Santa Catarina

The objective of this research is to analyze the relationship between the transfers of state and federal resources on developing the municipalities of Santa Catarina. The research was classified as descriptive, with procedures that characterize it as a documentary, with data from the state fund transfers (ICMS) and federal (FUNDEB and FPM) received by the 293 municipalities of Santa Catarina from 2008 to 2011. As for approach, the research was characterized as quantitative, using multiple linear regression. The main results of the research demonstrate a relationship between the development of municipalities and fundraising. And, also demonstrated that the fact that a greater amount of resources implies having a greater IFDM. Several municipalities with large resource inputs had a value of IFDM (2012) lower than its position in revenue ranking, however the scenarios projected for 2013 and 2014 the ranking positions have an increased bias, which is, began to improve.

GRAU DE RELACIONAMENTO ENTRE O RANKING DE INDICADORES DE MERCADO DE CAPITAIS E O RANKING DE INDICADORES ECONÔMICO-FINANCEIROS DE EMPRESAS BRASILEIRAS – UM ESTUDO MULTICRITERIAL POR MEIO DO MÉTODO VIKOR

O estudo objetiva estabelecer o grau de relacionamento entre o ranking de indicadores de mercado de capitais e o ranking de indicadores economico-financeiros, de empresas brasileiras. Para a realizacao do estudo foram selecionadas quatro indicadores de mercado de capitais e seis economico-financeiros, em 27 empresas pertencentes ao indice IBrX-50 listadas na BM&FBovespa, com analise correspondente aos periodos de 2008 a 2012. Foram estabelecidos os rankings de indicadores economico-financeiro e de mercado de capitais, por meio do metodo multicriterio VIKOR, para cada um dos anos analisados. Calculou-se a correlacao de Kendall entre os dois rankings, que evidenciou correlacoes positivamente significativas apenas nos anos de 2010, 2011 e 2012. Conclui-se entao que, as empresas para alguns dos anos analisados, tendem a possuir similaridades nas posicoes de eficiencia no mercado de capitais e nos tradicionais indicadores economico-financeiros, mas em outros apresentaram tanto posicoes similares como distintas

PROPOSTA DE UMA ESTRUTURA DE BALANCED SCORECARD PARA UMA COOPERATIVA AGROPECUÁRIA DO NOROESTE DO RIO GRANDE DO SUL

To investigate how the Balanced Scorecard (BSC) management tool can assist managers in defining, measuring and controlling the performance indicators of an agricultural cooperative Northwest RS. We conducted a descriptive study through a field study with a qualitative approach. The findings of the study demonstrated an alignment between the practical use of the BSC and what is recommended in the literature, to which it appears that the BSC is a form of assessment of usable performance in the cooperative, and provide a broad view of strategic control company. The use of the BSC enables managers to expand the cooperative control over organizational performance, since from the annual review of the strategic restructuring plan, we can propose further strategies that can enhance the structure of BSC proposal.

ENTROPIA DA INFORMAÇÃO EM INDICADORES ECONÔMICO-FINANCEIROS E DE MERCADO DE CAPITAIS DAS EMPRESAS PERTENCENTES AO SETOR DE TECNOLOGIA DA INFORMAÇÃO DA BM&FBOVESPA

O objetivo da pesquisa e avaliar o grau da entropia da informacao em indicadores economico-financeiros de mercado de capitais das empresas brasileiras pertencentes ao setor de Tecnologia da Informacao da BM&FBovespa. Para tanto, realizou-se uma pesquisa descritiva, com abordagem quantitativa, por meio de analise documental, em um periodo anual de 2009 a 2013. Na aplicacao do metodo da entropia nos indicadores de mercado de capitais, os achados demonstraram uma menor entropia, price book value (2009 e 2012), price cash dividends (2010) e price earning ratio (2011 e 2013). E a maior entropia aos indicadores price earning ratio (2009, 2010 e 2012) e price sales ratio (2011 e 2013). Ja a menor entropia da informacao nos indicadores economico-financeiros, ficou a cargo do ROA (2009), GAT (2010, 2011 e 2012) e ROE (2013). Por fim, a maior entropia ficou a cargo do ROE (2009) e do ROA (2010, 2011, 2012 e 2013).

ANÁLISIS DE LAS OPORTUNIDADES DEL DESARROLLO FINANCIERO EN LAS EMPRESAS FAMILIARES BRASILEÑAS Y CHILENAS

The study was aimed at analysing the opportunities for financial performance in Brazilian and Chilean family businesses. Descriptive, documentary and quantitative research was conducted. The sample included 32 Brazilian and Chilean family businesses during the period 2008-2012. The results indicate that Brazilian family businesses showed no statistical significance in the analysed periods. Unlike Chile, where total variable assets and borrowing were significant. Regarding the relationship between Brazil and Chile, the lower the ROA in Brazilian and Chilean family businesses, the greater the benefit in keeping it

DETERMINANTS OF THE CAPITAL STRUCTURE COMPANIES IN INFORMATION TECHNOLOGY BRAZILIAN

Aim of this research from a set of factors, verify the determinants of capital structure of brazilian companies information technology. The study is characterized as descriptive, documental analysis on a sample of six companies and quantitative approach. The study period comprised the first quarter of 2008 to the fourth quarter of 2012. The findings show that firms with better current ratio utilize less the resources for short and long run as form of financing. Already, most profitable companies in its total assets and high levels of tangible assets are less indebted in the long term and in total, so have more internal resources available for investments. Finally, it is concluded that technology companies of brazilian documentary evidence of indebtedness are supported in the Pecking Order theory. Full Paper PDF: http://www.contecsi.fea.usp.br/envio/11contecsi-files/papers/728/submission/director/728-2451-1-DR.pdf

Economia Criativa: Aplicação nas Empresas de TI

This research addresses the creative economy, where the creative industries are among the economys most dynamic sectors and are characterized as those who value intellectual capital, investing in technology and innovation that together represent opportunities for individuals, businesses and cities to generate economic growth and development. This research sought to examine the application of the creative economy in the information technology companies and professionals and for that IT professionals and people who work in large technology companies were interviewed to identify characteristics of the creative economy in this sectors companies. It was concluded that the creative economy is daily present in technology companies, because this is a high degree dynamisms sector and in constant change, where the characteristics of the creative economy help companies to innovate and to sustain themselves in a growing market growing and with a very high degree of demand.

Evidenciação do Valor Justo de Ativos Financeiros das Empresas Listadas na BM&FBOVESPA

Esta pesquisa tem por objetivo mensurar o nivel de evidenciacao das informacoes relativas ao valor justo dos instrumentos financeiros exigidas pelo CPC 40 das empresas listadas no segmento do Novo Mercado da BM&FBovespa. O estudo caracteriza-se como descritivo e foi conduzido por meio de analise documental e abordagem quantitativa. A populacao e composta por 255 observacoes, sendo 127 empresas em 2010 e 128 em 2011. A amostra compreendeu 251 observacoes, sendo 125 empresas de 2010 e 126 de 2011. Para coleta dos dados foi elaborado um check list composto por 13 itens, com base no Pronunciamento Tecnico CPC 40. Foi utilizada a analise de conteudo das notas explicativas dos anos de 2010 e 2011 das empresas. Os resultados da pesquisa mostram que a evidenciacao media das empresas foi de 36,62% em 2010 e de 40,35% em 2011. Em ambos os anos houve empresas que atenderam por completo aos itens analisados e empresas que nao evidenciaram nenhum item. Os setores com maior e menor indice de evidenciacao nos anos de 2010 e 2011 foram, respectivamente, o setor de “Petroleo, Gas e Biocombustiveis” e “Financeiro e Outros”. Conclui-se que o nivel de evidenciacao das empresas do segmento do Novo Mercado listada na BM&FBovespa, apesar de ter apresentado uma evolucao no periodo analisado, pode ser considerado baixo.

SOLVENCY ANALYSIS OF COMPANIES IN INFORMATION TECHNOLOGY SECTOR LISTED BM&FBOVESPA

The analysis of so lvency o f companies has been used to supplement the decision making process of investors and managers. The study aims to analyze the factor of insolvency o f inform ation technology companies of the BM&FBovespa based on the model proposed by Kanitz. The study characterized as descriptive and quant itative approach, performed through docum ent analysis. The popul ation survey covers 8 companies listed on the BM&FBovespa belonging to the sector of Information Technology in the years 2009 to 2011. The results show that companies analyzed have good liquidity, substantial indebtedness oscillat ion and low profitabili ty . Regarding the factor of inso lvency, a ll presented factor greater than 0. The results also indicate that year wit h best indicators was year of 2010. We conclude that the analyzed companies are so lvent and which remained the scene of the analyzed period, the eight companies analyzed show no risk of insolvency