Desempenho econômico-financeiro e análise envoltória de dados (DEA): um estudo em meios de hospedagem no Brasil

AUTOR(ES)
DATA DE PUBLICAÇÃO

2008

RESUMO

The analysis of the financial performance of an organization is always open to many questionings, chiefly as to which indicators to use and how to consolidate them so as to establish fair evaluation criteria for the performance of these companies. The present study aimed to contribute to the financial performance analysis of the hotel sector by means of data envelopment analysis (DEA) a technique that allows the evaluation of the relative efficiency level of companies belonging to the same sector or activity, capable of comparing financial and non-financial indicators in the performance evaluation analysis, characterizing companies as efficient or inefficient, establishing efficiency for the companies as well as a relative indicator for the sector. Thus, balance sheets from 212 hotels from Gazeta Mercantils InvestNews database were collected and the cross-sectional and area-time analysis of the financial indicators performed according to company size. The obtained results signaled a flexibility reduction of the 212 studied companies, for despite the sector obtaining a gross product of over 40% regardless of size, in all the researched years, the Liquid margin, ROA and ROE indicators were negative and considered unsatisfactory in all researched years, for all company sizes, and in spite of the significant increase in the financial risk due to the high levels of Indebtment, Immobilized assets, Non-current resources, as well as the increase in Outside Capital Investments throughout the researched years, the sector has high short and long Debt-payment capacity. DEA analysis demonstrates that 147 companies are efficient, whereas the remaining 65 were considered inefficient. It can still be inferred, by means of DEA analysis, that size did not interfere in the efficiency scores of the companies observed, for the comparison of the DEA analysis by size versus the overall analysis signaled that 60% of the small companied considered efficient in the analysis by size remained efficient in the overall analysis, whereas for large companies only 28% remained

ASSUNTO(S)

turismo análise envoltória de dados (dea) financial indicators hotel ventures data envelopment analysis (dea) company size empreendimentos hoteleiros porte da empresa indicadores econômico-financeiros

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