Desempenho econômico-financeiro de concessionárias de rodovias federais listadas na BOVESPA

Abstract

This assignment aims to present a comparison of listed companies of Sao Paulo's stock exchange BM & FBovespa on the sector of construction and Transportation dealing as concessions of Federal Highways. The objective of this assignment is to identify through financial demonstration if the financial- economic of the companies that adhere the corporate governance segment called New Market are best than the companies listed on the traditional market. The companies listed as New Market needs to join the stringent corporate governance rules, these rules are to manage the conflict of interests between counselor admins and shareholders, which are important factors to the performance of the company. To try to minimize the impact of the circumstances that could cause on the financial results of a company, the financial demonstration control and managers conduct are restrictedly controlled. This case study managed to achieve its objectives to what it was aimed for. Showing the companies listed on the New Market and the ones that adhere the default most high requirement to governance corporative are also the ones that best managed financially. This conclusion shows the trends of solid economies that trusts their investments to go on companies that rather assume publicly their adopt default most rigorous to finish the agency conflict. Therefore, the agency theory are present, in a way that the concessions really considered successful are not the ones that shows benefits to companies or regulators or society, but the ones that could be efficient in relation to satisfy all tree interests, best managing the conflict of agency regulation.