Market Value and Performance of Brazilian Companies Valor de Mercado y Desempeño de las Empresas Brasileñas

David F.L. Santos, Santiago V. Rodrigues and Danielle R.R. Damião

Regional and Sectoral Economic Studies, 2015, vol. 15, issue 2, 75-90

Abstract: The research analyzes relation between measures of economic, financial and debt performance and market value of Brazilian companies from 2001 to 2012. The sample consisted of 57 non-financial companies listed on the São Paulo stock exchange (BM&FBOVESPA) which were analyzed using panel data regression. The research design included the analysis of all companies and of five subsamples created according to size (larger and smaller) and period (before and after 2008). Results show MVA® as the main explanatory variable of Brazilian companies’ market value. The other performance measures alternated in explaining the market value depending on the size and period of analysis.

Keywords: Market Value; Performance; Brazilian Companies; Market Value Added. (search for similar items in EconPapers)
Date: 2015
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