Uma análise do EVA e MVA nas empresas de capital aberto do Brasil

Abstract

The performance of companies and the return to their investors are important factors that should be considered in the evaluation of companies, the performance can be calculated by indicators like EVA and MVA, which ones, evidences the company’s capacity of generating value. The objective of this study is to verify the relation between the two indicators in publicly held companies in Brazil, listed in B3, on the petroleum, natural gas and biofuel sectors between 2012 and 2017. This research can be defined as: applied, descriptive, bibliographical and quantitative. As for the analyzed outcomes, the statistical technique suggests that there is a strong correlation between the two variables. Regarding the analysis of the indicators, the destruction of value prevails in the sector in both the EVA and the MVA during the analyzed period, although in the MVA the positive values are more evident throughout the periods, however, there is a relationship between the two indicators, but the sector does not perform well with poor performance and value destruction.