Influência da folga financeira no desempenho econômico de empresas industriais brasileiras e mexicanas

Edgar Pamplona; Tarc´´isio Pedro da Silva; Wilson Toshiro-Nakamura

doi:10.18046/j.estger.2019.153.3366

Authors

Edgar Pamplona Doutorando, Programa de Pós-Graduação em Ciências Contábeis, Universidade Regional de Blumenau, Blumenau, Brasil.
Tarc´´isio Pedro da Silva Professor, Programa de Pós-Graduação em Ciências Contábeis, Universidade Regional de Blumenau, Blumenau, Brasil. https://orcid.org/0000-0002-2370-791X
Wilson Toshiro-Nakamura Professor, Programa de Pós-Graduação em Administração, Universidade Presbiteriana Mackenzie, São Paulo, Brasil. https://orcid.org/0000-0002-4697-5685

DOI:

https://doi.org/10.18046/j.estger.2019.153.3366

Keywords:

financial slack, economic performance, industrial companies

Abstract

This study aims to verify the influence of the financial slack on the economic performance of Brazilian and Mexican industrial companies. We conducted a descriptive, documentary, and quantitative research. The sample included 152 companies, 107 Brazilian and 45 Mexican, studied from 1996 to 2014. The findings suggest, through linear regressions, that the slack provides an improvement (positive relation) in corporate performance. However, quadratic regressions point out in both contexts studied, with superior explanatory power, that the relation between slack and performance is nonlinear. This fact confirms there is an optimal point of financial slack that maximizes the corporate results, being different for Brazilian and Mexican companies. These findings should be noticed by managers in order to better manage the resources available in organizations.

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