The relevance of accounting information in the identification of value creating companies: a study of the brazilian electricity sector

Abstract

http://dx.doi.org/10.5007/2175-8069.2012v9n18p137 The relevance of accounting information is one of the accounting guiding principles. Knowing that value creation is one of the main objectives of the company, this study sought to identify the most relevant financial indicators for discriminating companies that create value in the Brazilian electricity sector. We used a sample of 52 companies listed on the BM&FBOVESPA, totaling 385 annual statements. The results indicate that there was value generation in 41.82% of cases. In addition, they point four indicators as most relevant: return on equity, bank debt composition, financial independence and composition of debt.

Keywords

• relevância da informação contábil. valor econômico agregado (vea). indicadores contábeis. gestão baseada no valor.