EBITDA USE AS CASH FLOW PROXY OPERATING IN BRAZILIAN
The aim of this study is to analyze whether there are differences between the Operating Cash Flow (FCO) and EBITDA of companies in the various sectors of the economy. For the study, the data of the companies belonging to the index IBrX100 BM & FBOVESPA were analyzed during the period between 201...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2016 |
| País: | Brasil |
| Institución: | Universidade Federal de Roraima (UFRR) |
| Repositorio: | Revista de Administração de Roraima - RARR |
| Idioma: | portugués |
| OAI Identifier: | oai:oai.revista.ufrr.br:article/3165 |
| Acceso en línea: | https://revista.ufrr.br/adminrr/article/view/3165 |
| Access Level: | acceso abierto |
| Palabra clave: | operational cash flow EBITDA IBrX100. Fluxo de Caixa Operacional. EBITDA. IBrX100. |
| Sumario: | The aim of this study is to analyze whether there are differences between the Operating Cash Flow (FCO) and EBITDA of companies in the various sectors of the economy. For the study, the data of the companies belonging to the index IBrX100 BM & FBOVESPA were analyzed during the period between 2010 and 2014. This is a descriptive study, quantitative, developed using descriptive statistics through the use Stata software. EBITDA is an important indicator used by managers and investors in their decision-making process. Considered as an unregulated information (non-gaap information), is adopted by its members as a proxy Cash Flow Operating (FCO) of the company. If the difference between EBITDA and the FCO is significant, can invalidate the adoption of EBITDA as FCO proxy. The main results were obtained that some sectors of the economy showed differences between EBITDA and the FCO. It concludes that EBITDA can be used as proxy Operating Cash Flow in just a few sectors of the economy. |
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