trabalho

O Crescimento da Empresa: uma Análise da Variabilidade das Taxas de Crescimento;
The Firm Growth: a Variability in Growth Rate of Firms Analysis
Autor: Brito, Luiz Artur Ledur
Resumo:
This research investigated the observed variability in growth rate of firms, associating this variability to groups of factors, such as: industry; time period; country and individual firm. The proposal was inspired in the active line of research in strategy of financial performance variance components, using growth as a dependant variable instead of a financial indicator. Firm growth can be taken as an important dimension of performance in its broader sense, but it has never been studied using this approach. Findings indicate that idiosyncratic firm effects explain the major part of explainable variance. Year and country effects are also relevant. Industry effects, however, have shown to be of a small influence in explaining growth variability. The Compustat Global database will be the primary data source. Results will allow an assessment of the importance of each group of factors and will have practical implications both in corporate strategic management as well as in development and growth policy of a country or an industrial sector. This project intends to analyze an international dimension to encompass country effects, and opens the possibility of further studies focusing the Brazilian environment.
Esta pesquisa investigou a variabilidade da taxa de crescimento das empresas, associando-a a grupos de fatores como os associados ao ramo de negócios, ao período ou ano em que se observa o crescimento, ao país e, finalmente, o grupo de fatores associado à empresa individual de forma idiossincrática. O trabalho inspirou-se na linha de pesquisa de componentes de variância do desempenho financeiro em estratégia usando o crescimento como variável dependente. Os achados indicam que a firma individual é a responsável pela maior parte da variância observada nas taxas de crescimento.