Gestão de capital de giro em empresas sustentáveis
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Data
2023-08-11
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Universidade Federal de Goiás
Resumo
This study aimed to identify the relationship between the participation of Brazilian publicly traded companies in the ISE (Sustainability Index) and their performance in working capital management, measured by Net Working Capital, Average Inventory Holding Period, Average Payment Period to Suppliers, Average Accounts Receivable Collection Period, Cash Conversion Cycle, and Working Capital Requirement. The sample included publicly traded companies listed on B3 from 2013 to 2022, with those lacking necessary data for variable calculation excluded, resulting in a total of 2980 firm-year observations. After segregating by ISE, there were 596 firm-year observations from companies composing the index and 2384 from other companies. The analysis of results was based on the T-test, assuming data normality based on the Central Limit Theorem. The Mann-Whitney Test was also conducted in case of non-normality. As a result, companies in the ISE group showed better results in most of the studied variables, which were statistically significant at the 10% level, confirming that companies with good sustainable practices have better working capital management compared to others. However, the Working Capital Requirement (WCR) variable differed from the rest, being higher than expected in ISE companies, which could be attributed to certain subsectors in the sample having high inventories and accounts receivable, thereby increasing the group's average.
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ISE, Sustentabilidade, Gestão de capital de giro, Sustainability, Working capital management
Citação
GOMES, Amanda Serafim. Gestão de capital de giro em empresas sustentáveis. 2023. 34 f. Trabalho de Conclusão de Curso (Bacharelado em Ciências Contábeis) – Faculdade de Administração, Ciências Contábeis e Ciências Econômicas, Universidade Federal de Goiás, Goiânia, 2023.