Determinants of Profit in Companies Listed on The B3

Abstract

This work looked for evidences on the determinants of the net profit for the anonymous society listed in B3 (Brasil, bolsa e balcão). In order to comply with the proposed objectives, linear regressions were estimated using the net income as dependent variable and 31 independent variables of the main accounts of the assets, liabilities and the DRE (statement of income). The sample was composed of 295 companies traded on the B3 from 1995 to 2013. The main evidence suggests that total assets, inventories, dividends payable, non-current liabilities and social capital were determinants factors in the formation of net income. In the analysis by segments of activity were determinants of current and total assets, investments, customers, current liabilities, suppliers, loans, among others. In the general sample, only the non-current liabilities was significant and negative in relation to profits, signaling that the increase in indebtedness would have an inverse relation to obtain profits.