A multinacionalização das empresas brasileiras: o papel do BNDES como instrumento de financiamento. /

• Ano de defesa: 2021
• Autor(a) principal: Silva, Rafael Lima da
• Orientador(a): Fronzaglia, Mauricio Loboda
• Banca de defesa: Moura Junior, Álvaro Alves de , Leite Neto, Fernando Ribeiro
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Presbiteriana Mackenzie
• Programa de Pós-Graduação: Economia e Mercados
• Departamento: Centro de Ciências Sociais e Aplicadas (CCSA)
• País: Brasil
• Palavras-chave em Português: multinacionais brasileiras; internacionalização; Investimento Direto Estrangeiro (IED) do Brasil; Banco Nacional de Desenvolvimento Econômico e Social (BNDES)
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
• Link de acesso: https://dspace.mackenzie.br/handle/10899/28468

This work studies the internationalization process of Brazilian multinational companies and analyzes the importance of the National Bank for Economic and Social Development (BNDES) in this process. It explains the context and the motivation of the Brazilian internationalization, analyzes the role and performance of the public development bank in this process, and seeks to conclude whether internationalization was positive - or not - for the country from a macroeconomic standpoint. The work analyzed the period from 1995 to 2018 so that it was possible to highlight important facts that served historical landmarks for this process. The work finds that the internationalization was strongly influenced by economic reforms programs in the 1990s, such as the reduction of barriers to international trade and the liberalization of the economy, it is also finds that most Brazilian multinational companies are oriented by market seeking investments and their international expansion tends to be directed to emerging countries geographically and culturally close. These companies decided to go international when the entry of foreign competitors threatened their survival in the domestic market. The State understood that having national companies into the global production chain was essential for the country's development, and soon public policies were formulated to enable the international expansion of strategic companies from a variety of industries. Not all companies were financially and structurally mature to carry out a multinationalization process, therefore strengthening these companies was seen as essential because many were large in the domestic context, but small in the context of global competition. This work confirms the hypothesis that the internationalization supported by the BNDES produced positive effects on the Brazilian economy, firstly by the increase - in volume - of profits and dividends received from the Brazilian multinationals' subsidiaries, secondly by the increase of exports of goods and services.