Eficiência relativa das empresas de concessões rodoviárias listadas na Associação Brasileira de Concessionárias de Rodovias (ABCR)

Abstract

The highway concessions sector is of extreme importance in a continental country such as Brazil, which has the road transport as the main way of transporting cargoes. In a context of economic crisis, the economic and financial efficiency of business management is of fundamental importance. Under this approach, this research had as a general objective to examine the relative efficiency of the Highway Concessions companies listed in the Brazilian Association of Highway Concessionaires. For this, the study was descriptive and quantitative, since it used Data Envelopment Analysis (DEA) to evaluate the relative efficiency of the economic and financial performance of the Highway Concessions companies in 2017. The input factors used were: Total Assets (TA) and Shareholders' Equity (SE); the outputs were: Indebtedness (I), General Liquidity (GL), Assets Turnover (AT), Net Margin (NM) and Return on Shareholders' Equity (RSE). The financial data used in the survey were obtained through the annual report of the 51 Concessionaires that were published on its own websites. The results showed that only 13 companies reached the frontier of efficiency, however, only 10 were benchmark for the inefficient ones and the factor with the greatest potential for improvement was General Liquidity, with a 35.01% increase and the Assets Turnover, with an increase of 30.86%.