Relação entre os indicadores econômico-financeiros e o valor adicionado distribuído: perspectivas de mercado para o setor elétrico brasileiro

Abstract

The purpose of this study is to verify the relationship between distribution to economic agents, according to the DVA, and the economic and financial indicators of public companies in the electricity sector, listed on B3, in the period from 2008 to 2018. The companies that make up the electricity sector plays an important role in the development of society. In addition to being responsible for creating value for various sectors of the economy that use electricity to develop their production process. Thus, with this study, it is expected that, through the analysis of economic and financial indicators, extracted from Economática®, a relationship will be found with each economic agent provided in the Statement of Added Value (DVA). Regressions were performed, using panel data, in which the dependent variables were each of these economic agents, as well as the total value of the VAD. The following indicators were used: general liquidity, current liquidity, dry liquidity, third party capital indebtedness, debt composition, fixed assets, turnover of assets, net margin, return on assets (ROA) and return on equity (ROE) . The results of the study showed that the economic-financial indicators have an influence on the total distributed value (DVA), also influencing the economic agents that comprise it (Third Parties, Government and Personnel), which signals to managers that the DVA it can be explained by other financial indicators from these institutions.