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Advisor(s)
Abstract(s)
Este trabalho visa estudar o modelo de gestão de financiamento das Empresas Públicas do setor dos transportes em Portugal. O objeto é o estudo de caso da Companhia Carris de Ferro de Lisboa, S.A., e da Sociedade de Transportes Coletivos do Porto, S.A.. O endividamento destas empresas e a sua consequente difícil sustentabilidade económico-financeira será objeto de análise financeira, nomeadamente através de vários rácios e análises associadas. Procurar-se-á apurar e analisar os factos que levam estas empresas a apresentar consecutivamente resultados reveladores de difícil sustentabilidade e viabilidade. Neste âmbito fizemos uma análise histórica a ambas as empresas em estudo, onde abordamos a sua atividade no âmbito do Serviço Público e evolução dos principais indicadores de endividamento e rendibilidade. Por fim iremos comparar o desempenho destas empresas com a empresa líder de mercado e com o Setor de transportes em geral, tentando assim responder como evoluiu o endividamento e a rendibilidades destas empresas entre 2009 e 2015, e qual o seu comportamento em relação ao setor de transportes em geral assim como a sua posição e evolução em relação à empresa com maior volume de negócios do setor rodoviário.
This study proposes to analyse the financial management model of the Public Enterprises operating in Portugal’s transport sector. Its object is the case study of two companies: Companhia Carris de Ferro de Lisboa, S.A. and Sociedade de Transportes Coletivos do Porto, S.A.. The rate of indebtedness of these companies and their consequent difficulty in achieving economic and financial sustainability shall be the object of financial analysis, performed using various ratios and associated studies. We will ascertain and analyse the situations that lead these companies to consecutively present results that indicate difficulty in achieving sustainability and viability. In this context, we undertook a historical analysis of both companies, in which we address their activity within the scope of Public Service and the evolution of the main indicators of indebtedness and profitability. Finally, we will compare the performance of these companies with the market leader and with the transport sector in general, in an attempt to track the evolution of their indebtedness and profitability from 2009 to 2015, assess their performance in relation to the general transport sector, as well as ascertain their position and evolution in relation to the company with the largest turnover in the road transport sector.
This study proposes to analyse the financial management model of the Public Enterprises operating in Portugal’s transport sector. Its object is the case study of two companies: Companhia Carris de Ferro de Lisboa, S.A. and Sociedade de Transportes Coletivos do Porto, S.A.. The rate of indebtedness of these companies and their consequent difficulty in achieving economic and financial sustainability shall be the object of financial analysis, performed using various ratios and associated studies. We will ascertain and analyse the situations that lead these companies to consecutively present results that indicate difficulty in achieving sustainability and viability. In this context, we undertook a historical analysis of both companies, in which we address their activity within the scope of Public Service and the evolution of the main indicators of indebtedness and profitability. Finally, we will compare the performance of these companies with the market leader and with the transport sector in general, in an attempt to track the evolution of their indebtedness and profitability from 2009 to 2015, assess their performance in relation to the general transport sector, as well as ascertain their position and evolution in relation to the company with the largest turnover in the road transport sector.
Description
Mestrado em Gestão e Empreendedorismo
Keywords
Setor Empresarial do Estado Serviço público Transporte coletivo urbano Gestão e financiamento de transporte público Sustentabilidade Reestruturação Estrutura de Capital Companhia Carris de Ferro de Lisboa, S.A. Transportes Coletivos do Porto, S.A. State owned enterprises Public service Public transportation Management and public transportation financing Sustainability Restructuring Capital structure