Risk analysis of companies listed in ISE 2018 of B3

This study aims to analyze whether the companies listed in the B3 2018 Business Sustainability Index (ISE) present a different financial risk in relation to their size. To perform this quantitative research, 120 financial statements for the periods from 2013 to 2017 were analyzed from the 24 companies listed in the index, excluding financial institutions. The research is classified as descriptive and exploratory as to its objectives and as to the procedures it is a documentary research. The indicators used were Fleuriet's cash balance, current liquidity, general indebtedness, Kanitz's insolvency factor and Economic Value added. The results obtained through the analysis of the data with the financial indicators indicate that the ISE companies, for the most part, present low risk, and that by dividing the companies into two groups, one with the largest assets and another with the smaller ones of the index, it can be verified that those with lower assets stand out in relation to the other, in relation to the balance of treasury, current liquidity and solvency factor, which indicate that these companies present a lower risk. As a suggestion for new research, it would be important to compare the ISE companies' risk with the other indexes, also if it is possible to use other indicators for risk analysis.