Made available in DSpace on 2015-12-03T18:34:59Z (GMT). No. of bitstreams: 1 Mario_Roberto_dos_Santos.pdf: 606915 bytes, checksum: 6ecd7f1542e69fb658c7141f046f4d46 (MD5) Previous issue date: 2008-04-29 / The relation between the organizational climate and the financial performance has been studied by several researchers who have emphasized that there could be reciprocity between the organizational climate and the enterprise performance. The purpose of this study is to investigate if the Brazilian enterprises that reached the highest rates of work satisfaction, demonstrated by theirs employees and expressed by their organizational climate, have also demonstrated the best indicators of financial performance. In order to accomplish this purpose, a research was made about the financial indicators of the enterprises that have presented the highest indices of organizational climate in the years of 2004, 2005 and 2006 and were classified by the Guide VOC?? S/A - EXAME, published by EDITORA ABRIL. This research has only included the enterprises that are mentioned in that magazine list as well as in the list "Melhores e Maiores da Revista EXAME", which present the best and the biggest Brazilian enterprises, according to this magazine. In this context, forty enterprises were selected from which twenty were classified by the Guide VOC?? S/A-EXAME, being among the first ten enterprises in the years 2004, 2005 e 2006 and they were compared with twenty other enterprises which were part of that guide. An study was done to determine if the enterprise participation in that magazine list, showing a high value index would result in a better financial performance. For this purpose, the following indicators were used: Rate of Return on Total Assets, Return on Equity, Net Margin, Operating Margin, Sales Growth, Asset Turnover and the Active Sales per Employee. These index values were obtained from the database " Melhores e Maiores da FIPECAFI". The statistical tests of Shapiro Wilks were applied firstly. Afterwards, the Mann-Whitney??s or the test "t" and the multidimensional scaling were also applied. Then it was concluded that there was no strong relationship between the organizational climate and the financial performance / A rela????o entre clima organizacional e desempenho financeiro tem sido examinada por v??rios pesquisadores, enfatizando-se que poderia haver reciprocidade entre clima organizacional e desempenho empresarial. O objetivo deste estudo foi analisar se entre as empresas brasileiras que possuem os maiores ??ndices de satisfa????o no trabalho pelos empregados, expresso atrav??s do clima organizacional, tamb??m apresentaram melhores indicadores de desempenho financeiro. Foi realizada uma pesquisa dos indicadores financeiros das empresas que est??o classificadas pelo Guia VOC?? S/A-EXAME da Editora ABRIL com os maiores ??ndices de clima organizacional nos anos de 2004, 2005 e 2006. A pesquisa foi limitada ??s empresas que est??o presentes na lista da revista e que tamb??m fazem parte da rela????o das Melhores e Maiores da revista EXAME e, nesse contexto, foram selecionadas quarenta companhias, isto ??, vinte empresas classificadas entre as dez primeiras do Guia VOCE S/A-EXAME nos anos 2004, 2005 e 2006 e comparadas com outras vinte empresas e que tamb??m fazem parte do Guia. Foi verificado se a participa????o na lista da revista com um valor alto no ??ndice acarreta um melhor desempenho financeiro da empresa. Para tanto foram utilizados os indicadores: Taxa de Retorno sobre o Ativo Total, Retorno sobre o Patrim??nio L??quido, Margem l??quida, Margem Operacional, Crescimento de Vendas, Giro do Ativo e Vendas por Empregado. Os valores dos indicadores foram obtidos em pesquisa na base de dados Melhores e Maiores da FIPECAFI. Foram utilizados os testes estat??sticos de Shapiro Wilks, teste t ou Mann-Whitney e posteriormente o escalonamento multidimensional. Chegou-se a conclus??o que n??o h?? uma forte rela????o entre clima organizacional e desempenho financeiro.

Made available in DSpace on 2015-12-03T18:35:25Z (GMT). No. of bitstreams: 1 Claudineia_Boaventura_de_Sousa.pdf: 1035768 bytes, checksum: 8a5ab56ab58fb67088df2de635ac7c91 (MD5) Previous issue date: 2013-06-17 / This study examined the relationship between the market value (measured by Tobin's Q) and voluntary disclosure economic, social and environmental sustainability reports of companies listed on the BM&FBovespa. We analyzed the Standardized Financial Statements (SFS), Annual Reports (AR) and Sustainability Reports (SR) in the period from 2007 to 2011. The results indicate the existence of significant and positive relationship between voluntary disclosure economic and market value of companies, the same is not true with regard to voluntary disclosure environment that has a significant relationship, but negative in relation to Tobin's Q, demonstrating a trade vision-off between the investor and the manager, as such disclosure is strategically important from the viewpoint of business management. No evidence of a significant relationship between social voluntary disclosure and market value of companies. The study could help to encourage companies to voluntarily disclose information of an economic, social and environmental both quantitative and qualitative, as a strategic, yet aligned their mission and values as a way to communicate with their stakeholders and through that channel as to obtain benefits efficiency in management and business continuity expectations, given the enforcement of regulatory bodies, society and other agents that interfere in business and have direct legitimate. This incentive represents compensatory and contingency measures can reduce risks and transmit corporate responsibility and follow a global trend, which considers factors involving actions of a social and environmental function as extensions of social enterprises / Este estudo analisou a rela????o existente entre o valor de mercado (mensurado pelo Q de Tobin) e a divulga????o volunt??ria de informa????es econ??micas, sociais e ambientais, em relat??rios de sustentabilidade das companhias listadas na BM&FBovespa. Foram analisados, as Demonstra????es Financeiras Padronizadas (DFPs), os Relat??rios Anuais (RA) e os Relat??rios de Sustentabilidade Empresarial (RSE), no per??odo de 2007 a 2011. Os resultados apontam a exist??ncia de rela????o significante e positiva entre a divulga????o volunt??ria econ??mica e o valor de mercado das empresas; o mesmo n??o se d?? em rela????o ?? divulga????o volunt??ria ambiental que possui rela????o significante, por??m negativa em rela????o ao Q de Tobin, demonstrando um trade-off entre a vis??o do investidor e do gestor, pois tal divulga????o ?? estrategicamente relevante do ponto de vista da gest??o dos neg??cios. N??o h?? evid??ncia de rela????o significante entre a divulga????o social volunt??ria e valor de mercado das companhias. O estudo poder?? contribuir para incentivar as companhias a divulgar informa????o volunt??ria de natureza econ??mica, social e ambiental tanto quantitativa como qualitativa, como medida estrat??gica, por??m alinhada ?? sua miss??o e valores como forma de se comunicar com seus stakeholders e atrav??s desse canal obter vantagens quanto ?? efici??ncia na gest??o e nas expectativas de continuidade dos neg??cios, atendendo ao enforcement de ??rg??os reguladores, da sociedade e de demais agentes que interferem nos neg??cios e possuem direitos leg??timos. Tal incentivo representa medidas contingenciais e compensat??rias capazes de reduzir riscos e transmitir responsabilidade corporativa e acompanham uma tend??ncia global, a qual entende os fatores que envolvem a????es de car??ter ambiental e social como extens??es da fun????o social das empresas