O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano
Ano de defesa: | 2012 |
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Autor(a) principal: | |
Orientador(a): | |
Banca de defesa: | , |
Tipo de documento: | Dissertação |
Tipo de acesso: | Acesso aberto |
Idioma: | por |
Instituição de defesa: |
Universidade Presbiteriana Mackenzie
|
Programa de Pós-Graduação: |
Administração de Empresas
|
Departamento: |
Administração
|
País: |
BR
|
Palavras-chave em Português: | |
Palavras-chave em Inglês: | |
Área do conhecimento CNPq: | |
Link de acesso: | http://dspace.mackenzie.br/handle/10899/23394 |
Resumo: | The objective of this work is to implement and test constructs, proposed by Gu and Lev (2003, 2011) to measure intangible assets, in the consumer goods sector of public American companies.Using data gathered from DataStream/Thomson-Reuters, were investigated, through panel data analysis, potential linear relationships among constructs denoted by Intangible Driven Earnings (IDE) and Intangible Capital (IC) and financial statement variables that are commonly associated with intangibility, as for instance, Research and Development investments (R&D), Sales, General and Administrative expenses (SGA) and Capital Expenditures (CAPEX); it was also investigated if the Intangibles Driven Earnings (IDE) and the operational performance (EARN) represented by EBITDA can explain the creation of value measured by total shareholder return (TSR); the relation between the Comprehensive Value and the market value of the company; and, finally had been investigated relations between indexes of intangibility with the total shareholder return, representing the value creating of company for the period from 2003 to 2007.In particular, results from data between 2003 and 2007 suggest that (i) the constructs IDE and IC are positively related to variables associated with intangibility, (ii) variations of earnings have a positive relationship with shareholder return, (iii) the Comprehensive Value (CV), which tries to express the real value of a firm, is positively related to its market value and (iv) indexes of intangibility denoted by Intangible Capital Margin (ICM), Intangible Capital Operating (ICOM) and Market to Comprehensive Value (MtCV) have a positive and significant impact on shareholder return. |
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2016-03-15T19:25:49Z2020-05-28T18:03:51Z2012-06-022020-05-28T18:03:51Z2012-02-08http://dspace.mackenzie.br/handle/10899/23394The objective of this work is to implement and test constructs, proposed by Gu and Lev (2003, 2011) to measure intangible assets, in the consumer goods sector of public American companies.Using data gathered from DataStream/Thomson-Reuters, were investigated, through panel data analysis, potential linear relationships among constructs denoted by Intangible Driven Earnings (IDE) and Intangible Capital (IC) and financial statement variables that are commonly associated with intangibility, as for instance, Research and Development investments (R&D), Sales, General and Administrative expenses (SGA) and Capital Expenditures (CAPEX); it was also investigated if the Intangibles Driven Earnings (IDE) and the operational performance (EARN) represented by EBITDA can explain the creation of value measured by total shareholder return (TSR); the relation between the Comprehensive Value and the market value of the company; and, finally had been investigated relations between indexes of intangibility with the total shareholder return, representing the value creating of company for the period from 2003 to 2007.In particular, results from data between 2003 and 2007 suggest that (i) the constructs IDE and IC are positively related to variables associated with intangibility, (ii) variations of earnings have a positive relationship with shareholder return, (iii) the Comprehensive Value (CV), which tries to express the real value of a firm, is positively related to its market value and (iv) indexes of intangibility denoted by Intangible Capital Margin (ICM), Intangible Capital Operating (ICOM) and Market to Comprehensive Value (MtCV) have a positive and significant impact on shareholder return.Essa pesquisa teve como objetivo testar a teoria proposta por Gu e Lev (2003, 2011) para mensuração dos ativos intangíveis para o setor de bens de consumo do mercado norte americano.Usando variáveis da base de dados da DataStream da Thomson Reuters, investigou-se através de análise de dados em painel a relação das variáveis associadas a intangibilidade, tais como pesquisa e desenvolvimento (RD), gastos com capital (CAPEX) e gastos administrativos, gerais e com vendas (SGA), no constructo IDE e no capital intangível (IC); foi investigado também se o constructo de intangibilidade (IDE) e o desempenho operacional (EARN) representado pelo EBITDA podem explicar a criação de valor medida pela variável retorno ao acionista (TSR); a relação entre o Comprehensive Value e o valor de mercado da empresa; e, por último foram investigadas relações entre os índices de intangibilidade com o retorno ao acionista, representando a criação de valor da empresa para o período de 2003 a 2007.Os resultados indicam que: (i) o constructo IDE e o capital intangível (IC) apresentam relações positivas com variáveis ligadas a intangibilidade, que (ii) IDE e ΔEARN possuem relação positiva com o retorno ao acionista, que (iii) o real valor da empresa o Comprehensive Value possui relação positiva com o valor de mercado da empresa, e que (iv) os índices de intangibilidade IDEM, ICOM E MtCV demonstram relação positiva e significativa com o retorno ao acionistaFundo Mackenzie de Pesquisaapplication/pdfporUniversidade Presbiteriana MackenzieAdministração de EmpresasUPMBRAdministraçãoativo intangívelBaruch Levcriação de valorintangible assetsBaruch Levvalue creationCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAOO papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americanoinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisBasso, Leonardo Fernando Cruzhttp://lattes.cnpq.br/1866154361601651Kimura, Herberthttp://lattes.cnpq.br/2048706172366367Kayo, Eduardo Kazuohttp://lattes.cnpq.br/6629229841222438http://lattes.cnpq.br/5152671364406592Saliba, Juliana Albuquerquerhttp://tede.mackenzie.br/jspui/retrieve/2905/Juliana%20Albuquerquer%20Saliba.pdf.jpghttp://tede.mackenzie.br/jspui/bitstream/tede/564/1/Juliana%20Albuquerquer%20Saliba.pdfinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações do Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIE10899/233942020-05-28 15:03:51.818Biblioteca Digital de Teses e Dissertaçõeshttp://tede.mackenzie.br/jspui/PRI |
dc.title.por.fl_str_mv |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
title |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
spellingShingle |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano Saliba, Juliana Albuquerquer ativo intangível Baruch Lev criação de valor intangible assets Baruch Lev value creation CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
title_short |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
title_full |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
title_fullStr |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
title_full_unstemmed |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
title_sort |
O papel dos intangíveis na criação de valor: uma aplicação para o setor de bens de consumo do mercado norte americano |
author |
Saliba, Juliana Albuquerquer |
author_facet |
Saliba, Juliana Albuquerquer |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Basso, Leonardo Fernando Cruz |
dc.contributor.advisor1Lattes.fl_str_mv |
http://lattes.cnpq.br/1866154361601651 |
dc.contributor.referee1.fl_str_mv |
Kimura, Herbert |
dc.contributor.referee1Lattes.fl_str_mv |
http://lattes.cnpq.br/2048706172366367 |
dc.contributor.referee2.fl_str_mv |
Kayo, Eduardo Kazuo |
dc.contributor.referee2Lattes.fl_str_mv |
http://lattes.cnpq.br/6629229841222438 |
dc.contributor.authorLattes.fl_str_mv |
http://lattes.cnpq.br/5152671364406592 |
dc.contributor.author.fl_str_mv |
Saliba, Juliana Albuquerquer |
contributor_str_mv |
Basso, Leonardo Fernando Cruz Kimura, Herbert Kayo, Eduardo Kazuo |
dc.subject.por.fl_str_mv |
ativo intangível Baruch Lev criação de valor |
topic |
ativo intangível Baruch Lev criação de valor intangible assets Baruch Lev value creation CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
dc.subject.eng.fl_str_mv |
intangible assets Baruch Lev value creation |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
description |
The objective of this work is to implement and test constructs, proposed by Gu and Lev (2003, 2011) to measure intangible assets, in the consumer goods sector of public American companies.Using data gathered from DataStream/Thomson-Reuters, were investigated, through panel data analysis, potential linear relationships among constructs denoted by Intangible Driven Earnings (IDE) and Intangible Capital (IC) and financial statement variables that are commonly associated with intangibility, as for instance, Research and Development investments (R&D), Sales, General and Administrative expenses (SGA) and Capital Expenditures (CAPEX); it was also investigated if the Intangibles Driven Earnings (IDE) and the operational performance (EARN) represented by EBITDA can explain the creation of value measured by total shareholder return (TSR); the relation between the Comprehensive Value and the market value of the company; and, finally had been investigated relations between indexes of intangibility with the total shareholder return, representing the value creating of company for the period from 2003 to 2007.In particular, results from data between 2003 and 2007 suggest that (i) the constructs IDE and IC are positively related to variables associated with intangibility, (ii) variations of earnings have a positive relationship with shareholder return, (iii) the Comprehensive Value (CV), which tries to express the real value of a firm, is positively related to its market value and (iv) indexes of intangibility denoted by Intangible Capital Margin (ICM), Intangible Capital Operating (ICOM) and Market to Comprehensive Value (MtCV) have a positive and significant impact on shareholder return. |
publishDate |
2012 |
dc.date.available.fl_str_mv |
2012-06-02 2020-05-28T18:03:51Z |
dc.date.issued.fl_str_mv |
2012-02-08 |
dc.date.accessioned.fl_str_mv |
2016-03-15T19:25:49Z 2020-05-28T18:03:51Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://dspace.mackenzie.br/handle/10899/23394 |
url |
http://dspace.mackenzie.br/handle/10899/23394 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Presbiteriana Mackenzie |
dc.publisher.program.fl_str_mv |
Administração de Empresas |
dc.publisher.initials.fl_str_mv |
UPM |
dc.publisher.country.fl_str_mv |
BR |
dc.publisher.department.fl_str_mv |
Administração |
publisher.none.fl_str_mv |
Universidade Presbiteriana Mackenzie |
dc.source.none.fl_str_mv |
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MACKENZIE |
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MACKENZIE |
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Biblioteca Digital de Teses e Dissertações do Mackenzie |
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Biblioteca Digital de Teses e Dissertações do Mackenzie |
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