<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0123-5923</journal-id>
<journal-title><![CDATA[Estudios Gerenciales]]></journal-title>
<abbrev-journal-title><![CDATA[estud.gerenc.]]></abbrev-journal-title>
<issn>0123-5923</issn>
<publisher>
<publisher-name><![CDATA[Universidad Icesi]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-59232022000300347</article-id>
<article-id pub-id-type="doi">10.18046/j.estger.2022.164.5151</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[A importância dos indicadores de liberdade econômica e monetária no valor das empresas do setor de consumo no Brasil]]></article-title>
<article-title xml:lang="en"><![CDATA[Effect of economic and monetary freedom indices on the value of consumer sector companies in Brazil]]></article-title>
<article-title xml:lang="es"><![CDATA[Importancia de los indicadores de libertad económica y monetaria en el valor de las empresas del sector consumo en el Brasil]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreira de Souza]]></surname>
<given-names><![CDATA[Gabriela]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Sánchez Arévalo]]></surname>
<given-names><![CDATA[Jorge Luis]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidade Federal de Mato Grosso do Sul  ]]></institution>
<addr-line><![CDATA[Campo Grande-MS ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidade Federal de Mato Grosso do Sul School of Management and Business ]]></institution>
<addr-line><![CDATA[Campo Grande-MS ]]></addr-line>
<country>Brazil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<volume>38</volume>
<numero>164</numero>
<fpage>347</fpage>
<lpage>357</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-59232022000300347&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-59232022000300347&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-59232022000300347&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo O objetivo do artigo foi o de estimar o efeito que causam os indicadores de liberdade e variáveis macroeconômicas no valor das empresas do setor de consumo no Brasil. A principal contribuição foi a de ampliar a discussão em torno da tomada de decisão por parte dos gestores, considerando a conjuntura social, política e econômica de um país, a qual se reflete nos indicadores de liberdade. Utilizou-se o método de dados em painel, o que permitiu definir dois modelos de equações que foram estimados por Mínimos Quadrados Generalizados - MQG. Os resultados mostram que os indicadores de liberdade econômica e monetária exercem maior influência no valor de empresa. Assim, as decisões tomadas no ambiente de negócios devem incorporar essas variáveis. Classificações JEL: G1; G15; G32.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of the article was to estimate the effect of freedom indices and macroeconomic variables on the value of companies of the consumer sector in Brazil. The main contribution was to broaden the discussion around decision-making by managers considering the social, political, and economic situation of a country, which is portrayed in the freedom indices. The panel data method was used, which allowed us to define two equation models that were estimated by generalized least squares-GLS. The results indicate that economic and monetary freedom indicators exert greater influence on a firm&#8217;s value; thus, decisions made in the business environment should consider them.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo fue estimar el efecto causado por los indicadores de libertad y las variables macroeconómicas sobre el valor de las empresas del sector de consumo en el Brasil. El principal aporte fue ampliar la discusión en torno a la toma de decisiones por parte de los gerentes considerando la situación social, política y económica de un país, lo cual se retrata en los indicadores de libertad. Se utilizó el método de datos de panel y dos modelos de ecuaciones fueron estimados por Mínimos Cuadrados Generalizados - MQG. Los resultados denotan que los indicadores de libertad económica y monetaria ejercen mayor influencia sobre el valor de la empresa. Así, las decisiones en el entorno empresarial deben incorporar estas variables.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[valor de mercado]]></kwd>
<kwd lng="pt"><![CDATA[indicadores de liberdade]]></kwd>
<kwd lng="pt"><![CDATA[variáveis macroeconômicas]]></kwd>
<kwd lng="pt"><![CDATA[setor de consumo]]></kwd>
<kwd lng="en"><![CDATA[market value]]></kwd>
<kwd lng="en"><![CDATA[freedom index]]></kwd>
<kwd lng="en"><![CDATA[macroeconomic variables]]></kwd>
<kwd lng="en"><![CDATA[consumer sector]]></kwd>
<kwd lng="es"><![CDATA[valor de mercado]]></kwd>
<kwd lng="es"><![CDATA[indicadores de libertad]]></kwd>
<kwd lng="es"><![CDATA[variables macroeconómicas]]></kwd>
<kwd lng="es"><![CDATA[sector de consumo]]></kwd>
</kwd-group>
</article-meta>
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