Return to search

Financiamento do BNDES e desempenho de empresas brasileiras no per??odo de 2008-2012

Made available in DSpace on 2015-12-03T18:33:10Z (GMT). No. of bitstreams: 1
Leandro_Araujo.pdf: 2644348 bytes, checksum: deb630f7c75e53425ea8d96bb840a31f (MD5)
Previous issue date: 2014-09-01 / The scarcity and high cost of long term financing, especially in developing countries, are limiting factors of a greater investment and economic growth. In Brazil, the majority of long-term loans are granted by BNDES. The main objective of this study is to empirically investigate the possible influence of BNDES loans on firm performance. Through analytical data for the period 2008-2012, provided by the BNDES and a large Financial Institution, I estimate models using two methods: pooled ordinary least squares and fixed effects. Firm performance was measured using financial ratios that capture productivity, efficiency and profitability. The results indicated that the funding did not improve the performance of recipient firms in the year following the loan / The scarcity and high cost of long term financing, especially in developing countries, are limiting factors of a greater investment and economic growth. In Brazil, the majority of long-term loans are granted by BNDES. The main objective of this study is to empirically investigate the possible influence of BNDES loans on firm performance. Through analytical data for the period 2008-2012, provided by the BNDES and a large Financial Institution, I estimate models using two methods: pooled ordinary least squares and fixed effects. Firm performance was measured using financial ratios that capture productivity, efficiency and profitability. The results indicated that the funding did not improve the performance of recipient firms in the year following the loan

Identiferoai:union.ndltd.org:IBICT/oai:132.0.0.61:tede/376
Date01 September 2014
CreatorsAra??jo, Leandro
ContributorsOliveira, Raquel de Freitas, Nakamura, Wilson Toshiro, Silveira, Alexandre Di Miceli da
PublisherFECAP - Faculdade Escola de Com??rcio ??lvares Penteado, Mestrado em Administra????o de Empresas, FECAP, BR, Administra????o estrat??gica
Source SetsIBICT Brazilian ETDs
LanguagePortuguese
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis
Formatapplication/pdf
Sourcereponame:Biblioteca Digital de Teses e Dissertações do FECAP, instname:Fundação Aramando Álvares Penteado, instacron:FAAP
Rightsinfo:eu-repo/semantics/openAccess

Page generated in 0.0024 seconds