Sectorial performance of Brazilian companies: a study from the standpoint of Roe, Tobin's Q ratio and market to book/Desempenho setorial de empresas Brasileiras: um estudo sob a otica do roe, Q de Tobin e market to book/El rendimiento sectorial de las empresas Brasilenas: un estudio desde la perspectiva de Roe, Q de Tobin y market to book

• Published in: Revista Gestão, finanças e contabilidade finanças e contabilidade, 2017-01, Vol.7 (1), p.149
• Main Authors: de Carvalho, Filipe Pollis, Maia, Vinicius Mothe, Louzada, Luiz Claudio, Goncalves, Marcio Augusto
• Format: Article
• Language: Spanish
• ISSN: 2238-5320; 2238-5320
• DOI: 10.18028/2238-5320/rgfc.v7n1p149-163

Understanding the key variables that explain the return of a company is in the interest of investors and researchers. At this point, the Du Pont model was proposed to decompose the return on shareholders' equity into three other accounting variables. It was thus sought to deepen the understanding of the interaction between different accounting indicators. The present article sought to verify if the Du Pont model applied to the Tobins Q ratio and Market to Book also adheres satisfactorily, thus obtaining more information about the dynamics of the accounting indicators. To do so, we use data from the Brazilian stock market segmented by sectors in the period from 2007 to 2015. The results indicated the good predictability of the Du Pont model regarding the return on equity as expected and Tobin's Q ratio. Market to Book has been little explained, which indicates the need for new studies capable of finding the key variables that move this index.