标题：SOLVENCY INDEX AT DIFFERENTIATED LEVELS OF CORPORATE GOVERNANCE ACCORDING THE MODELS FROM ELIZABETSKY (1976), KANITZ (1978), MATIAS (1978) AND ALTMAN (1979): THE CASE OF THE BRAZILIAN ELECTRICITY SECTOR
期刊名称：Independent Journal of Management and Production
印刷版ISSN：2236-269Х
出版年度：2014
卷号：5
期号：4
页码：26
语种：English
出版社：Independent
摘要：This Article aimed to identify whether there is a relationship between good practices of corporate governance and the real solvency/insolvency ratio of companies from the Brazilian electricity sector, using to this end, four distinct models for the solvency calculation: Elizabetsky (1976), Kanitz (1978), Matias (1978) and Altman (1979). For this, it was performed a descriptive and experimental study of discriminant type using the linear regression analysis between the periods 2007 to 2011. The results show that there is no a consensus among the models used, because in the Elizabetsky’s model, the companies analyzed show up insolvent, while in models of Kanitz and Matias the companies analyzed show up solvents, and in the Altman’s model there is a balance between solvent and insolvent. Moreover, with the regression analysis, it was found that there were no standards of performance or relations between the solvency indexes and the differentiated levels of corporate governance. That is, good practices of corporate governance – that allow the insertion of the companies best levels of corporate governance listed on the stock exchange – do not necessarily imply in better solvency, as one might assume.
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