Análise da internacionalização na gestão do capital de giro

Abstract

This study aims to examine the differences in working capital management between domestic and internationalized companies. Data from 1,636 publicly traded companies were used, covering the period from 2013 to 2018, obtained from the Economatica® database and Fundação Dom Cabral. The working capital management metrics employed include variables such as net working capital, average inventory period, average payment period to suppliers, average receivables period, cash conversion cycle, and working capital requirement. For the analysis, the t-test was applied to compare the working capital management of domestic and internationalized companies. In general, the results confirmed the hypothesis that there are significant differences in the average working capital management metrics between internationalized and non-internationalized companies, with the exception of the average payment period to suppliers. As an academic contribution, this research provides findings that may prompt further studies. For future research, it is suggested to include a more detailed sectoral breakdown, incorporate new variables, and utilize alternative data sources to obtain more up-to-date information.