The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables

This paper analyses the relation between firms’ life cycles stages according to Dickinson’s (2011) definition and accounting and financial ratios. We applied multinomial logistic regression analysis on a sample of 1,515 observations of public companies listed on BM&FBOVESPA between 2005 and 2012...

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Autores principales:	Wando Belffi da Costa, Marcelo Alvaro da Silva Macedo, Karen Yukari Yokoyama, José Elias Feres de Almeida
Formato:	article
Lenguaje:	EN PT
Publicado:	FUCAPE Business School 2017
Materias:	life cycle accounting ratios finance brazilian public companies capital market Business HF5001-6182
Acceso en línea:	https://doaj.org/article/d6c00015e6ad4419845034f7718fb2cb
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spelling	oai:doaj.org-article:d6c00015e6ad4419845034f7718fb2cb2021-11-11T15:48:07ZThe Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables1807-734Xhttps://doaj.org/article/d6c00015e6ad4419845034f7718fb2cb2017-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=123050604003https://doaj.org/toc/1807-734XThis paper analyses the relation between firms’ life cycles stages according to Dickinson’s (2011) definition and accounting and financial ratios. We applied multinomial logistic regression analysis on a sample of 1,515 observations of public companies listed on BM&FBOVESPA between 2005 and 2012. Based on the literature about firms’ life cycle stages (YAN; ZHAO, 2010; MILLER; FRIESEN, 1984; FAMA; FRENCH, 2001) the accounting and financial ratios used were dividends distribution, leverage, market-to-book, return on equity, firm size and revenue growth. The results show that leverage, dividends distribution, market-to-book, return on equity, firm size and revenue growth could be used as explanatory factors to classify firms’ life cycle stages.Wando Belffi da CostaMarcelo Alvaro da Silva MacedoKaren Yukari YokoyamaJosé Elias Feres de AlmeidaFUCAPE Business Schoolarticlelife cycleaccounting ratiosfinancebrazilian public companiescapital marketBusinessHF5001-6182ENPTBBR: Brazilian Business Review, Vol 14, Iss 3, Pp 304-320 (2017)
institution	DOAJ
collection	DOAJ
language	EN PT
topic	life cycle accounting ratios finance brazilian public companies capital market Business HF5001-6182
spellingShingle	life cycle accounting ratios finance brazilian public companies capital market Business HF5001-6182 Wando Belffi da Costa Marcelo Alvaro da Silva Macedo Karen Yukari Yokoyama José Elias Feres de Almeida The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
description	This paper analyses the relation between firms’ life cycles stages according to Dickinson’s (2011) definition and accounting and financial ratios. We applied multinomial logistic regression analysis on a sample of 1,515 observations of public companies listed on BM&FBOVESPA between 2005 and 2012. Based on the literature about firms’ life cycle stages (YAN; ZHAO, 2010; MILLER; FRIESEN, 1984; FAMA; FRENCH, 2001) the accounting and financial ratios used were dividends distribution, leverage, market-to-book, return on equity, firm size and revenue growth. The results show that leverage, dividends distribution, market-to-book, return on equity, firm size and revenue growth could be used as explanatory factors to classify firms’ life cycle stages.
format	article
author	Wando Belffi da Costa Marcelo Alvaro da Silva Macedo Karen Yukari Yokoyama José Elias Feres de Almeida
author_facet	Wando Belffi da Costa Marcelo Alvaro da Silva Macedo Karen Yukari Yokoyama José Elias Feres de Almeida
author_sort	Wando Belffi da Costa
title	The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
title_short	The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
title_full	The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
title_fullStr	The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
title_full_unstemmed	The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables
title_sort	determinants of the life cycle stages of brazilian public companies: a study based on financial-accounting variables
publisher	FUCAPE Business School
publishDate	2017
url	https://doaj.org/article/d6c00015e6ad4419845034f7718fb2cb
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The Determinants of the Life Cycle Stages of Brazilian Public Companies: A Study Based on Financial-Accounting Variables

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