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- Title
Risco de liquidez e condicionantes da gestão de capital de giro em micro e pequenas empresas.
- Authors
Marques Ferreira, Marco Aurélio; Piltelckow, Elisane; Abrantes, Luiz Antônio; Ramos Silveira, Suely de Fátima
- Abstract
Although both micro- and small-sized companies constitute the basis of the national economy, many disappear prematurely. Among the causes of the extinction of these companies, there are problems with working capital, mainly those which arise from difficulties in generating and using financial and accounting information. This study involved micro- and small-sized companies in the town of Rio Casca in the Zona da Mata, state of Minas Gerais. Data Exploratory Analysis was used, as well as the Logit model that identified the main factors conditioning the liquidity risk in the micro- and small-sized companies. Among those, the following were relevant in identifying potential problems with working capital: the size of the organization, the equity capital in the business, the use of financial information, balanced cash cycles, as well as the limited presence of loans and external financing. The model was capable of forecasting 82.2% of the variance in the data, which is clearly a solid result.
- Subjects
MINAS Gerais (Brazil); BRAZIL; SMALL business finance; WORKING capital; VENTURE capital; EQUITY participations; LIQUIDITY (Economics); CASH flow; CAPITAL investments
- Publication
Revista de Economia e Administração, 2007, Vol 6, Issue 2, p257
- ISSN
1676-7608
- Publication type
Article