FAMILIAL PROPERTY AND THE PERFORMANCE OF BRAZILIAN AGRIBUSINESS COMPANIES

Abstract

Agribusiness has a significant role in Brazilian economic and financial situation. Current research registers the relationship between familial property and the performance of Brazilian agribusiness companies. A descriptive research coupled to a quantitative approach is applied in a sample comprising 25 companies on the BM&FBovespa between 2010 and 2012. Data Envelopment Analysis (DEA) identifies the efficiency of performance of familial and non-familial companies, whereas the statistical analysis ANOVA verifies whether familial companies have a greater or smaller efficiency with regard to performance when compared to non-familial enterprises. Results reveal that the companies Excelsior, Iguaçu Café, Laep and Renar were efficient during the three years in which they were investigated with regard to their groups (familial and non-familial) and to their relationship to the sample as a whole. The companies Tereos, Cacique and Josapar had the lowest efficiency. Results, albeit not significant, indicate that non-familial companies are more efficient than familial ones in short term performance