Avaliação da capacidade competitiva das empresas listadas na bolsa de valores de Teerã com base no modelo de eficiência cruzada e sua relação com o custo do patrimônio líquido

Autores

  • Faezeh Motamedi Aghkariz Department of Management and Accounting, Karaj Branch, Islamic Azad University, Karaj, Iran
  • Bahman banimahd Department of Management and Accounting, Karaj Branch, Islamic Azad University, Karaj, Iran.
  • Balal Karimi Department of Mathematics, Karaj Branch, Islamic Azad University, Karaj, Iran

DOI:

https://doi.org/10.22279/navus.2021.v11.p01-15.1592

Palavras-chave:

avaliação de competitividade, eficiência cruzada, Análise Envoltória de Dados (AED), custo de capital próprio, empresas farmacêuticas.

Resumo

Este estudo teve como objetivo avaliar a relação entre o escore de competitividade e o custo de capital próprio. Para tanto, os escores de eficiência das empresas foram medidos com base na competitividade por meio de um modelo de eficiência cruzada em análise envoltória de dados (DEA), e sua relação com o custo do capital próprio foi examinada por meio de um modelo de regressão multivariada para 19 empresas farmacêuticas listadas na Bolsa de Valores de Teerã, no período entre os anos de 2015 a 2019. A investigação sobre o assunto foi realizada em duas etapas. Na primeira etapa, a avaliação da competitividade e a obtenção do escore de eficiência de competitividade das empresas foram abordadas por meio do modelo matemático apresentado neste estudo, o que era um objetivo secundário na eficiência cruzada. Além disso, o custo de capital próprio foi calculado usando o modelo de Gordon. Na segunda etapa, foram exploradas técnicas estatísticas para avaliar o escore de eficiência de competitividade e o custo de capital próprio. Os resultados obtidos na pesquisa indicaram que existe uma correlação positiva significativa entre as variáveis dos escores de eficiência das empresas com base na competitividade e no custo de capital próprio. Isso significa que o custo do capital próprio e dos dividendos também aumentará com o aumento da competitividade, o que acarreta um aumento no financiamento externo das empresas.

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Publicado

2021-06-24

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