Geração de riqueza em empresas vencedoras do PNQ: uma análise usando o EVA
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The poor financial performance of some quality award winners in different countries arises the interest of researchers to investigate why that happened. The majority of this kind of investigations was carried out in United States and Western Europe. The most common performance measures were growth, profitability, market value, and customer satisfaction. In Brazil, there are few studies on this issue. This master thesis aims to analyze the value creation by National Brazilian Quality Award winners using Economic Value Added (EVA ) as the performance measure and comparing those values with competitors from the same economic sector. The application of EVA as performance measurement is a differential from other studies. The Brazilian database Economatica, financial websites, and companies websites were the main source of data. The data acquirement covered a period of time of ten (2000-2009). The parametric tests were applied to test the hypothesis. The main finding shows that the winner companies have increased the value creation to the shareholders after the awarding of National Brazilian Quality Award. Another main finding points out that the winner companies have increased the value creation in average to the shareholders more than the companies from the same economic sector after the awarding of National Brazilian Quality Award. It is important to highlight that before the awarding the studied companies were not creating more value to shareholders than the companies from the same economic sector.