Determinantes do retorno sobre o patrimônio líquido e os impactos da pandemia da Covid-19 em empresas da América Latina: Um estudo com dados em painel
DOI:
https://doi.org/10.19094/contextus.2023.82315Palavras-chave:
determinantes de ROE, Covid-19, América Latina, dados em painel, modelo efeitos fixosResumo
Esta pesquisa investiga os determinantes do retorno sobre patrimônio líquido ou return on equity (ROE) e o impacto ocasionado pela pandemia da Covid-19 em empresas de capital aberto da América Latina. O modelo de regressão de efeitos fixos com dados em painel permite evidenciar que os fatores referentes às sales e controle de despesas são os que apresentam maior contribuição para o ROE, independentemente do período. Por outro lado, o nível de endividamento e os indicadores macroeconômicos se mostram não significativos, fortalecendo a constatação de que decisões operacionais e internas à empresa contribuem mais fortemente para a maximização do retorno ao acionista. Essa apuração auxilia os administradores financeiros no direcionamento de decisões e amplia o conhecimento acadêmico acerca desse tema.
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