Efeitos da privatização do setor elétrico brasileiro sobre empresas da região nordeste: uma análise sob a ótica financeira

Abstract

This research monitored analytically the performance of five electricity distribution companies in the Brazilian Northeast region. This research consisted of a comparative, quantitative and descriptive study. The database was obtained from the BOVESPA website (São Paulo Stock Exchange) and from the electronic addresses of the distributors themselves. After the primary data were collected, financial indicators were calculated. The panel data analysis was used, separating in groups, in the case, the companies that were privatized and those that were not, delimiting a same interval of time. Liquidity, activity, indebtedness and profitability ratios were analyzed between 1996 and 2017. Among the companies studied, two are state-owned and three are privately owned in the year 2000. As a result, it was observed that private companies improved their performance over of the time in relation to the public distributors. This implies, therefore, that privatization has had positive effects on the finances of companies whose majority control is not owned by the Government.