A importância da gestão baseada na criação de valor para o acionista (Value-Based Management): o caso do Grupo Galp Energia

A avaliação de empresas sempre constituiu um tema de elevada reflexão, sendo que vários especialistas tentam encontrar os modelos que melhor se adaptam a situações específicas e para as quais precisam de determinar um valor. No contexto empresarial português começa a ganhar significância a prática da gestão orientada para a criação de valor (Value-Based Management). O conceito de Value-Based Management assistiu a um particular desenvolvimento nos últimos 20 anos como resultado da globalização e desregulamentação dos mercados financeiros, dos avanços nas tecnologias de informação e do aumento da importância dos investidores institucionais. Vários analistas apresentaram evidência de que as empresas que adotam sistemas VBM melhoram o seu desempenho económico em relação a outras de dimensão semelhante no mesmo setor. É neste contexto que o EVA (Economic Value Added) se apresenta como uma métrica de desempenho privilegiada nos processos de controlo das decisões estratégicas tomadas. No presente trabalho pretendemos abordar o conceito da gestão baseada na criação de valor e a sua importância para o acionista, o que implica rever outros modelos de avaliação tradicionais baseados no valor contabilístico. Como métrica de avaliação do desempenho passado da empresa ao nível da criação de valor vamos dar particular importância ao estudo do EVA, fazendo referência à possível correlação entre esta métrica e o MVA (Market Value Added). O objetivo principal é analisar empiricamente a relação do EVA como medida de desempenho associada à criação de valor para os acionistas com a performance da empresa. Com efeito, vamos efetuar um estudo de caso, que vai incidir sobre um grupo empresarial português, referência no seu setor de atividade, o Grupo Galp Energia, cotado na Euronext Lisbon. Pensamos que a crescente prática da gestão baseada na criação de valor nas empresas cotadas em Portugal e a necessidade de aferir os resultados desta, tornam esta investigação pertinente, para além do facto de serem poucos os estudos empíricos à questão da criação de valor e a sua correlação com o valor acrescentado de mercado e com o valor de mercado dos capitais próprios das empresas cotadas em Portugal.

Galp Energia: Oil & Gas: Equity Investment Report

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia: Oil & Gas: Equity Investment Report

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia: Equity research report

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Business model: What should be the strategy used by Smart Galp to implement and potentiate its value proposition in the Portuguese market?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Galp Energia: Equity research

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia: Equity research

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Galp Energia: Equity research

UNL - NSBE

Management consulting labs- Galp loyalty

The purpose of this project was to diagnose and estimate the possible value to add to the current loyalty program of Galp and to explore possible redefinitions to the loyalty approach. In order to do that it was performed a deep benchmarking about the company, exhaustive research on the existent data about loyalty and loyalty programs, new data mining with quantitative and qualitative analysis, exploratory market research and ideation sessions. Based on all the work developed, a group of five changes of paradigm were suggested through structured and innovative ideas to answer the challenge proposed.

Management consulting labs-Galp social media

Social Media @ Galp Project had a very specific purpose – analyze the feasibility for Galp to enter in new Social Media platforms and, if appropriate, develop a short-term strategy for the entrance in which some guidelines are valid for the medium-long-term. As expected, the majority of the project was focused on the second part, which consists in an analysis of some aspects concerning the organization as well as in the relationship with customers and public in general

Management consulting labs-Galp loyalty

The objective of this consulting project was to assist Galp Energia in its approach to loyalty. In order to do so, two hypotheses were defined. The first assumed there was value to capture in the existing approach. The second held that it was possible to create value through a radically innovative approach. The methodology used to corroborate those hypotheses encompassed several quantitative analyses, as well as desk research and market research. As a result, a compilation of recommendations comprising implementation proposals that considered both hypotheses as valid was presented in order to suggest a paradigm change