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[en] THE IMPACT OF FINANCIAL STRATEGIES IN FIRM PERFORMANCE: A STUDY ABOUT THE PERFORMANCE IN ELECTRIC ENERGY, TELECOM, METAL AND TEXTILE INDUSTRIES / [pt] O IMPACTO DAS ESTRATÉGIAS FINANCEIRAS NO DESEMPENHO DAS EMPRESAS: UMA ANÁLISE DO DESEMPENHO DOS SETORES DE ENERGIA ELÉTRICA, SIDERURGIA E METALURGIA, TÊXTIL E TELECOMUNICAÇÕESMAURO ARDUINO DAMO 30 November 2006 (has links)
[pt] A pesquisa avalia qual é o impacto das estratégias
financeiras no
desempenho das empresas dos setores de energia elétrica,
siderurgia e
metalurgia, têxtil e telecomunicações. Esses são os
principais setores das
empresas listadas na Bolsa de Valores de São Paulo. Os
dados obtidos foram os
demonstrativos de resultado de cada uma das empresas do
ano de 2004. Após
analisar as tipologias de Mintzberg (1988) e Miles and
Snow (1978) e Porter
(1980), utilizamos a tipologia de Porter (1980) para
definir os grupos estratégicos
de cada setor pesquisado. Os resultados obtidos foram a
caracterização do
grupo estratégico liderança em baixo custo como o de
melhor desempenho em
três setores pesquisados e encontrou-se relação relevante
entre o
posicionamento da empresa dentro do seu grupo estratégico
e o seu
desempenho. / [en] This research measures the impact of the financial
strategies in the firm´s
performance using a wide range of multivariate statistics
techniques. The electric
energy, metals, textile and telecommunications are the
main industries in the São
Paulo Stock Exchange (Bovespa). Those industries are the
chief subject of the
research and represent 37,8% of all the revenue of the
companies in Bovespa.
The data used in such research is obtained from the 2004
financial statement of
those companies in the studied industries. My literature
research was made using
a wide range of typologies like Mintzberg (1988), Miles
and Snow (1993) and
Porter (1980). Porter´s typology (1980) was used for the
classification of the
strategic cluster of each of the industries, because it
could offer a good
explanatory power with small number of the variables. The
empirical result
discovered is that the strategic group low cost leadership
has better performance
than all other strategic groups. I have also found out a
relationship between the
position of the firm inside the strategic group and it´s
performance. This linear
relationship is negative therefore I conclude the
strategic financial positioning of
the firm results an improvement in it´s performance. In my
research, I discuss
about how we could use financial data to measure
companies´ financial strategies
and how we could apply such research in other countries.
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