Aplicação da análise envoltória de dados no estudo da eficiência econômico-financeira de companhias integrantes do ISE-BM&FBOVESPA nos anos de 2012 até 2014

Abstract

With concerns about the depletion of natural resources of the planet increasingly growing, the man cares to develop ways to preserve the environment, recover what was consumed and secure the future for coming generations. Sustainable development has been a topic debated in the economy, through the large companies, which to exploit raw materials, manpower and relationship with society seek to apply the guidelines of sustainability in business and environmental level. With that in mind, BM&FBOVESPA created the Corporate Sustainability Index to assess the top 200 companies of the Stock Exchange in the aspect of sustainability, seeking to know how much the environmental approach can add value to the companies in their business. This study aims to assess the economic and financial efficiency of the companies present at ISE, analyzing the feedback we can get on efficiency and benchmarking by the fact integrate a sustainability index. It analyzed the efficiency of 25 companies operating from the year 2012 until the year 2014, through variables and data found in its financial statements. The economic and financial efficiency was assessed using Data Envelopment Analysis (DEA), the two methods (BCC and RCC), directed the output. Scores of efficiency and benchmarking indications were obtained by SIAD ® software. By BCC method, it was found that only 8 companies (32% of the total) were managed efficiently between the years 2012-2014, and 5 of these companies were efficient in the three years (AES, CEMIG, COELCE, Natura and Sul América). The CCR method, the efficiency of four companies was confirmed, with three of these companies were considered efficient in the three years studied (AES, Natura and Sul América).