Proposal of a performance evaluation model to support investiment decisions at Bovespa companies: MCDA-C perspective

Abstract

The present article aims at developing an economical and financial performance evaluation model with in order of supporting investiment decisions companies participating at BOVESPA. This exploratory study is guided by the following research question: How integrate the perceptions of a decision maker in a model of performance evaluation in order to support the selection of companies to invest? It is intended to present the contribution of Multicriteria Decision Aid - Constructivist (MCDA-C), to consider investor perception in the construction of the evaluation model and integrate the various indicators so that we can make an overall performance assessment. The model was applied to a business corporation - Positivo Informatica SA, generating as an overall result a performance of 7 points in 2006, and 20 points in 2007, which was considered a non-competitive performance, considering that a good performance is equivalent to 100 points. We conclude that the Multicriteria Decision Aid, Constructivist (MCDA-C) can assist in evaluating the financial performance through the integration of the indicators and provide useful information for an investor to make the decision that best represents their perceptions.