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Publication
A associação entre produtividade e valor: uma aplicação aos bancos portugueses com acções admitidas à cotação em bolsa
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 4.86 MB | Adobe PDF |
Abstract(s)
Os rácios de produtividade e de rendibilidade são utilizados pelos gestores como
auxiliares para medir a eficiência das empresas. A relação entre preços e variáveis de
rendimento tem sido largamente analisada, enquanto que a relação entre preços e variáveis de produtividade não foi encontrada na revisão da literatura.
O objectivo deste trabalho é analisar a relação entre produtividade e preços e compreender os factores que influenciam esta relação. A amostra seleccionada cobre O
período entre 1996 e 2000 e inclui todos os bancos portugueses admitidos à cotação na
BVLP que respeitam os critérios de selecção, designadamente cotação e FR2 superior a
90% ao longo de todo o período. Os dados anuais e semestrais foram retirados da base
de dados DATI-IIS e dos relatórios e contas das empresas.
O estudo baseia-se na análise de correlação processada em SPSS. Os resultados
indicam que existe uma relação de associação entre as variáveis preço e produtividade.
A relação é positiva e moderada.
Productivity and profitability ratios are used by managers as proxies to measure the effiency of a company. The relationship between prices and return or income variables has widely analysed while the relationship between prices and productivity can scarcely be found in the literature review. The purpose of this research is to analyse the relationship between productivity and prices and to understand the factors underlying it. The sample covers the period between 1996 and 2000 and includes all banks listed in the Portuguese stock exchange that respect two criteria, namely being listed during the period and have an FR2 index bigger than 90%. Uses armual and semi-amiual data collected fiom DATHIS - Portuguese stock exchange databases - and reports of companies. The analysis is based upon correlation analysis and data is processed with SPSS. The results indicate that there is linear relation between prices and productivity variables. The relation is moderate and positive.
Productivity and profitability ratios are used by managers as proxies to measure the effiency of a company. The relationship between prices and return or income variables has widely analysed while the relationship between prices and productivity can scarcely be found in the literature review. The purpose of this research is to analyse the relationship between productivity and prices and to understand the factors underlying it. The sample covers the period between 1996 and 2000 and includes all banks listed in the Portuguese stock exchange that respect two criteria, namely being listed during the period and have an FR2 index bigger than 90%. Uses armual and semi-amiual data collected fiom DATHIS - Portuguese stock exchange databases - and reports of companies. The analysis is based upon correlation analysis and data is processed with SPSS. The results indicate that there is linear relation between prices and productivity variables. The relation is moderate and positive.
Description
Keywords
Produtividade Cotação Banca BVLP Trabalho Capital