Impacto dos Fundos de Private Equity e Venture Capital no Desempenho Operacional e Financeiro pós IPO nas Empresas Brasileiras Investidas Other Languages

ID:
52267
Authors:
Bianca Piloto Sincerre
Joelson Sampaio
Rubens Famá
Eduardo S. Flores
Journal:
Brazilian Business Review
Abstract:
O presente artigo buscou analisar o legado e sua persistência ao longo do tempo, em termos de políticas de financiamento e performances operacional e financeira, de empresas investidas por fundos de Private Equity e Venture Capital (PE/VC). A indústria de PE/VC é caracterizada pela função de identificar empresas com grandes potenciais de retorno e que crescem aritmeticamente – devido a limitações de capital – para proporcionar fontes de capital e experiência adequadas e necessárias para o crescimento exponencial. Nesse estudo, utilizaram-se quatro medidas que se relacionam com a política financeira das empresas e sua persistência ao longo do tempo: i) disponibilidades de caixa; ii) alavancagem; iii) ROA (Return on Assets); e iv) crescimento de vendas. Os resultados sugerem que empresas investidas por PE/VC implicam níveis mais elevados de disponibilidades de caixa e estão associadas a um menor nível de alavancagem durante os primeiros 5 anos após o IPO. Além disso, empresas financiadas por fundos de PE/VC apresentam rentabilidade e crescimento de vendas superior se comparadas às empresas não investidas no curto prazo, ou seja, nos primeiros 3 anos após o IPO.
ABNT Citation:
SINCERRE, B. P.; SAMPAIO, J.; FAMÁ, R.; FLORES, E. Impacto dos Fundos de Private Equity e Venture Capital no Desempenho Operacional e Financeiro pós IPO nas Empresas Brasileiras Investidas. Brazilian Business Review, v. 16, n. 1, p. 88-101, 2019.
APA Citation:
Sincerre, B. P., Sampaio, J., Famá, R., & Flores, E. (2019). Impacto dos Fundos de Private Equity e Venture Capital no Desempenho Operacional e Financeiro pós IPO nas Empresas Brasileiras Investidas. Brazilian Business Review, 16(1), 88-101.
DOI:
http://dx.doi.org/10.15728/bbr.2019.16.1.6
Permalink:
https://www.spell.org.br/documentos/ver/52267/impacto-dos-fundos-de-private-equity-e-venture-capital-no-desempenho-operacional-e-financeiro-pos-ipo-nas-empresas-brasileiras-investidas/i/en
Document type:
Artigo
Language:
Português
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