Análise do desempenho econômico-financeiro de empresas mineiras de capital fechado

Abstract

THIS PAPER PRESENTS A RESEARCH THAT AIMED AT ANALYZING THE FINANCIAL PERFORMANCE OF PRIVATE COMPANIES LOCATED IN MINAS GERAIS STATE. THIS DESCRIPTIVE AND QUANTITATIVE STUDY WAS CONDUCTED WITH DATA FROM 127 PRIVATE COMPANIES (WHICH BELONG TOO 17 DIFFERENT ACTIVITIES SECTORS) FROM 2010 TO 2014. THE FOLLOWING TECHNIQUES WERE EMPLOYED IN ANALYZING DATA: DESCRIPTIVE STATISTICS, CHI-SQUARED TEST AND KRUSKAL-WALLIS’ TEST. THE ANALYSIS OF LIQUIDITY RATIOS INDICATED VALUES HIGHER THAN 1.0 CONSIDERING ALL TIME HORIZONS. ON THE OTHER HAND, THE CAPITAL STRUCTURE RATIOS DEMONSTRATED THE HIGHER USE OF DEBT OVER EQUITY. ABOUT THE PROFITABILITY RATIOS, WE OBSERVED LOW VALUES OVER THE ANALYZED RATIOS. MOREOVER, THE MAIN RATIOS OF DUPONT MODEL INDICATED THAT THE LEVEL OF COMPANIES’ INDEBTEDNESS SUPPORT THE RISE OF THEIR RATIO ON EQUITY. IT IS IMPORTANT TO NOTE THAT THE KRUSKAL-WALLIS’ TEST DISPLAYED SIGNIFICANT DIFFERENCES AMONG ALL THE ANALYZED RATIOS CONSIDERING THEIR SECTOR OF ACTIVITY. LAST, THE ANALYSIS FROM THE STANDPOINT OF DYNAMICS MODEL SHOWED THAT THE MAJORITY OF ANALYZED COMPANIES COULD BE CLASSIFIED AS “SOLID ONES” OR “UNSATISFACTORY ONES”. HOWEVER, THIS CLASSIFICATION WAS NOT HOMOGENOUS AMONG ALL THE SECTORS.