| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 1.13 MB | Adobe PDF |
Advisor(s)
Abstract(s)
Neste trabalho foram analisados diferentes projetos de investimento. Estes projetos foram revistos sob duas vertentes, uma destas através da utilização de financiamento geralmente disponível para as empresas sob a forma de capital próprio e capitais alheios e a outra vertente analisou o projeto após este ter financiamento aprovado por parte dos fundos comunitários do Portugal2020, nomeadamente nas tipologias “Inovação” e “Internacionalização”. As empresas em análise na amostra deste projeto possuíam diversas características que as separavam, no entanto possuem como característica comum o facto de serem todas pertencentes à categoria de Pequenas e Médias Empresas. Assim, através desta análise procurou-se dar resposta à seguinte questão de investigação: Qual o aumento da viabilidade de um projeto e seu respetivo retorno sobre os capitais próprios previsto, ao recorrer à tipologia “Inovação” e à tipologia “Internacionalização” para financiamento da execução do mesmo? Esta resposta necessita de uma contextualização e um aprofundamento teórico, para tal estruturou-se uma abordagem à literatura existente sobre as fontes de financiamento dos projetos e avaliação de um investimento e finalmente uma descrição superficial às tipologias de fundos comunitários em análise. Assim, após analisada a amostra existente sob a metodologia definida, chegou-se a algumas conclusões. Existe um aumento claro da viabilidade e do retorno dos capitais próprios dos projetos que recorrem a estas tipologias. Este aumento é significativo criando uma relação de causalidade com o incremento do valor de mercado das empresas, reduzindo o custo associado a projetos que vi poderiam não ser viáveis, tornando os mesmos pós apoio viáveis. Este efeito positivo sobre a viabilidade poderá corrigir possíveis problemas de sub-investimento na área.
In this work, different investment projects were analyzed. These projects were reviewed on two fronts, one using financing options generally available to companies in the form of equity and debt and the other one after it had its financing approved by the Portugal2020 community funds, specifically the “Innovation” and “Internationalization” typologies. The companies under analysis in the sample of this project had several characteristics that separated them; however, they have one similar characteristic the fact that they all belong to the category of Small and Medium Enterprises. Thus, through this analysis, an attempt was made to answer the following research question: What is the increase in the viability of a project and its respective expected return, by using the “Innovation” typology and the “Internationalization” typology to finance the execution of the same? This answer needs a contextualization and a theoretical deepening, for that an approach to the existing literature on the sources of financing of the projects and evaluation of an investment was undergone and finally a theoretical framework to community funds under analysis. Thus, after analyzing the existing sample under the defined methodology, some conclusions were reached. There is a clear increase in the viability and return of projects that use these typologies. This increase is significant, creating a causality with the increase in companies' market value, reducing the cost associated with these projects that otherwise might be unviable, making the same (post funding) viable. This effect corrects problems of under-investment in the sector, making certain sectors more attractive and goes along with the ideals established by the Member States of the European Union to motivate the development of critical economic structures.
In this work, different investment projects were analyzed. These projects were reviewed on two fronts, one using financing options generally available to companies in the form of equity and debt and the other one after it had its financing approved by the Portugal2020 community funds, specifically the “Innovation” and “Internationalization” typologies. The companies under analysis in the sample of this project had several characteristics that separated them; however, they have one similar characteristic the fact that they all belong to the category of Small and Medium Enterprises. Thus, through this analysis, an attempt was made to answer the following research question: What is the increase in the viability of a project and its respective expected return, by using the “Innovation” typology and the “Internationalization” typology to finance the execution of the same? This answer needs a contextualization and a theoretical deepening, for that an approach to the existing literature on the sources of financing of the projects and evaluation of an investment was undergone and finally a theoretical framework to community funds under analysis. Thus, after analyzing the existing sample under the defined methodology, some conclusions were reached. There is a clear increase in the viability and return of projects that use these typologies. This increase is significant, creating a causality with the increase in companies' market value, reducing the cost associated with these projects that otherwise might be unviable, making the same (post funding) viable. This effect corrects problems of under-investment in the sector, making certain sectors more attractive and goes along with the ideals established by the Member States of the European Union to motivate the development of critical economic structures.
Description
Keywords
Aumento de Viabilidade Portugal 2020 Fontes de Financiamento Investimento de PME Aumento de retorno Criação de valor Viability increase Financing sources Investment in small and medium companies Profit increase Value creation