THE INFLUENCE OF WORKING CAPITAL MANAGEMENT IN THE FINANCIAL PERFORMANCE OF COMPANIES LISTED ON BM&FBOVESPA (2001-2010)

Authors

  • Rômulo Bernardino Lopes da Costa Universidade Estadual do Ceará
  • Augusto César Moura de Macedo Universidade Estadual do Ceará
  • Samuel Façanha Câmara Universidade Estadual do Ceará
  • Paulo César de Sousa Batista Universidade Estadual do Ceará

DOI:

https://doi.org/10.5380/rcc.v5i1.29544

Keywords:

Working Capital, Performance, Stock Exchange

Abstract

This paper seeks to understand how the management of working capital influences corporate profitability, considering the industry in which they operate. We used data and financial statements for the 143 companies listed on the Securities, Commodities and Futures Exchange (BM&FBovespa), divided into four distinct sectors: industry, services, trade and public. The results show that the proposed model was more representative of the trading industry, especially as this sector has a higher proportion of assets and liabilities circular in relation to their assets and total liabilities, and indicates that the variable Net Working Capital on Assets is the most reliable measure for the management of working capital between firms that are in different sectors. The model study contributes to the advancement of the subject in Brazil, serving as a basis for future research to consider other moderating variables, another crop sector, for example, small and medium businesses, as these face greater difficulty to manage its capital turning.

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Published

2013-05-15

How to Cite

Lopes da Costa, R. B., Moura de Macedo, A. C., Câmara, S. F., & Batista, P. C. de S. (2013). THE INFLUENCE OF WORKING CAPITAL MANAGEMENT IN THE FINANCIAL PERFORMANCE OF COMPANIES LISTED ON BM&FBOVESPA (2001-2010). Revista Contabilidade E Controladoria - RC&C, 5(1). https://doi.org/10.5380/rcc.v5i1.29544

Issue

Vol. 5 No. 1 (2013): Volume 5| Numero 1| Jan./Abr.| 2013

Section

Articles

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Copyright (c) 2013 Revista Contabilidade e Controladoria - RC&C

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