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Criação de valor: estudo de caso
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Abstract(s)
A avaliação da criação de valor, representa uma área relevante no atual contexto empresarial, sendo importante a correta identificação de quais os indicadores mais adequados para medir a capacidade de uma organização para criar excedentes financeiros superiores à rendibilidade exigida pelos investidores. Este trabalho iniciou-se com uma revisão de literatura sobre os conceitos de desempenho financeiro e as diferentes formas da sua avaliação, na ótica da criação de valor. No estudo empírico, analisou-se, com base na informação disponível e no método escolhido, a evolução da criação de valor no quadriénio de 2009 a 2012 de uma empresa de referência do setor nacional das rochas ornamentais. Concluiu-se, através da análise da evolução económica e financeira, bem como da aplicação de diferentes métricas de avaliação da criação de valor financeiro que, durante o período analisado, a atividade não foi capaz de gerar rendibilidade suficiente para cobrir a remuneração pretendida pelos investidores.
Value creation and financial performance evaluation, are milestones on the actual entrepreneurial context, being of the utmost importance the correct identification of which indicators are more adequate to weight an organizations capacity that render financial surplus, higher that investors required profitably. This paper started with a literature review over performance and financial performance concept as well as different approaches to evaluate financial value creation. In the empirical study, it was examined, based on available information and on the method chosen, the evolution of value creation in the 2009 to 2012 quadrennium of a company of the national sector of ornamental rocks. It was concluded through the analysis of economic and financial developments, as well as the application of different metrics for assessing the financial value creation, that during the analysis period, the activity was not able to generate sufficient returns to cover the desired compensation by investors.
Value creation and financial performance evaluation, are milestones on the actual entrepreneurial context, being of the utmost importance the correct identification of which indicators are more adequate to weight an organizations capacity that render financial surplus, higher that investors required profitably. This paper started with a literature review over performance and financial performance concept as well as different approaches to evaluate financial value creation. In the empirical study, it was examined, based on available information and on the method chosen, the evolution of value creation in the 2009 to 2012 quadrennium of a company of the national sector of ornamental rocks. It was concluded through the analysis of economic and financial developments, as well as the application of different metrics for assessing the financial value creation, that during the analysis period, the activity was not able to generate sufficient returns to cover the desired compensation by investors.
Description
Trabalho apresentado nas XXVI Jornadas Luso-Espanholas de Gestão Cientifica, 3-6 de fevereiro de 2016, Idanha-a-Nova, Portugal
Keywords
Desempenho financeiro Avaliação do desempenho financeiro Criação de valor Financial performance Financial performance evaluation Value Creation