a study on causality between ebitda and return of shares of brazilian companies (2008 - 2014)

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ID: 237791
2017
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Abstract
The overall objective of the research was to identify the relationship between EBITDA and the return of shares of Brazilian companies listed on the BM&FBovespa, through the application of the Granger Causality Test. The research is characterized as descriptive, documentary with a quantitative approach. The results showed that the EBITDA margin on the net revenue was, on average, of 30.43% within the investigated period. Causal relationships occurred in 26 companies between the variables EBITDA (REBITDA) Return and Return of Shares (RACAO).Research results do not allow a definitive conclusion about the influence of the EBITDA variable on the variable return of shares and vice versa, since there was a balance in the results according to the econometric test, confirming earlier studies.However, they do contribute to the literature by identifying causal relationship in a number of companies, which shows the relevance of accounting information to the capital markets.
Reference Key
ritta2017enfoquea Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Cleyton de Oliveira Ritta;Fellipe André Jacomossi;Thiago Rocha Fabris;Roberto Carlos Klann
Journal bmb reports
Year 2017
DOI
10.4025/enfoque.v36i2.34126
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