Search

The focus of this work was on modeling the financial performance of Chilean construction companies using linear fixed and mixed effects regressions, using quarterly gross margin as an indicator of profitability. Among the models evaluated, it was determined that the mixed effects model with random effects per company showed the best fit to the data set, with an estimated coefficient of determination (R2) of 0.92, with variables such as TC, TC being significant. quadratic and the short-term debt rate. The combination of quadratic and non-quadratic CT effects indicated that the positive impact of CT on margin is evident from a rate of 42% on total assets. [ABSTRACT FROM AUTHOR]

Copyright of Revista Espacios is the property of Talleres de Impresos Oma and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Fatec Zona Sul (REFAS) is the property of Revista Fatec Zona Sul (REFAS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Opuntia Brava is the property of Universidad de Ciencias Pedagogicas de Las Tunas, Centro de Documentacion e Informacion Pedagogica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El objetivo del presente estudio es revelar variables comunes a la explicación de la rentabilidad y la liquidez en diferentes sectores de la economía brasileña. El análisis empírico para cumplir el objetivo planteado fue realizado con base en las informaciones de los dos sectores en los cuales se estructura la economía brasileña: sector consumo cíclico y sector consumo no cíclico, cuyas empresas están listadas en la plataforma B3, bolsa de valores de Brasil. El estudio utilizó 674 observaciones de los indicadores objeto de estudio en el período 2010-2021. Fue utilizada la metodología cuantitativa por medio de la regresión con datos en panel no balanceado. Los principales resultados mostraron correlación positiva, puntos comunes e interconexión entre rentabilidad y liquidez en los dos sectores. Se observaron, sin embargo, diferencias entre los dos sectores en algunas de las variables que explican la rentabilidad y la liquidez, lo que se considera que está relacionado con particularidades del comportamiento de los indicadores en cada sector. De forma general, se observó que, independientemente de las respuestas encontradas a los elementos teóricos revisados, los modelos también reflejaron comportamientos y conductas de estos sectores. Una de las principales limitaciones y lagunas dejadas por este estudio es no diferenciar el análisis por grupo de empresas utilizando un ranking por resultados de rentabilidad o liquidez.

Copyright of Revista Facultad de Ciencias Economicas: Investigacion y Reflexion is the property of Revista Facultad de Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

El artículo que se presenta forma parte de la investigación en la carrera Contabilidad y Finanzas de la Universidad de Matanzas, dirigida aplicar el procedimiento para el análisis integral del capital de trabajo y la evaluación de la posición de riesgo y rentabilidad, en la Corporación CIMEX S.A, Matanzas, la misma se sustenta en el método dialéctico materialista, emplea métodos teóricos tales como: analítico -sintético , inductivo-deductivo e histórico-lógico y métodos empíricos como: la observación directa, la entrevista y la revisión de documentos, así como, métodos financieros y herramientas que facilitaron la concreción de los objetivos trazados. Al culminar la investigación se obtiene información relevante, que facilita el proceso de la toma de decisiones pues se particulariza en las causas que modifican favorable o desfavorablemente al riesgo y la rentabilidad empresarial.

Copyright of Pacha: Revista de Estudios Contemporáneos del Sur Global is the property of PACHA REVISTA DE ESTUDIOS CONTEMPORANEOS DEL SUR GLOBAL and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Objetivo: Se propone una definición alternativa de capital de trabajo la cual contempla la perspectiva social. Métodos y técnicas: Se aplicó una metodología de tipo cualitativo, no experimental, caracterizada por el análisis del estado del arte sobre el capital de trabajo, conjuntamente con el análisis del contexto en que las empresas desarrollan su actividad, donde se destaca como tendencia de desarrollo, la responsabilidad social empresarial. Se utilizó la técnica de análisis de contenido. Principales resultados: Se elaboró una definición de capital de trabajo desde la perspectiva social, en correspondencia con las tendencias actuales de desarrollo de la actividad empresarial, que incluyen el demandado apego a la responsabilidad social empresarial, y las principales aportaciones existentes para definir el capital de trabajo a partir del análisis de diferentes criterios autorales. Conclusiones: Se propone una definición de capital de trabajo, como una combinación holística de tres perspectivas (contable, financiera y gerencial) además de una cuarta: la social.

The objective of the research is to identify the variables that affect short-term financial decisions, determinants of cash flow in MSMEs. A mixed investigation is carried out, based on a survey applied to 278 managers of Micro, Small and Medium Enterprises (MSMEs) in Colombia. The data were analysis based on binary logistic regression and information was managed through executions, oriented to the management of multipurpose events, where training, informal discussion as a focus group and observation of participants' reactions to intentionality and significance of the project are the essence. The results show that financial decisions in the MSMEs are headed by the directors who should wield their leadership, experience, knowledge and skills in financial and strategic training to make decisions aimed at optimizing cash flow even without training. optimal required. A circumstance that to a large extent, especially in micro, small and medium sized companies, new in the market, leads them to finance their activity with their own resources, family resources or informal credit while very few opt for external financing. Operational financial decisions become a complex, empirical, carefree and improvised process for many MSMEs, this being an attenuating factor of the lack of sustainability in the market and in a wide margin of failure. [ABSTRACT FROM AUTHOR]

La gestión del capital de trabajo es la función de la administración financiera que se dedica a la planeación, ejecución y control del manejo de cada uno de sus componentes y los adecuados niveles que permitan minimizar el riesgo y maximizar la rentabilidad empresarial. Son diversos los factores que inciden en la operatividad de una empresa, haciendo que los componentes del capital de trabajo se vinculen directamente al ciclo económico. Aun así, la mayor preocupación de gerentes, accionistas y administradores financieros radica en determinar cuál es su impacto en la rentabilidad de la empresa, aspecto que constituye el objetivo de la presente investigación. La realización de un estudio bibliográfico permitió agrupar los resultados de múltiples investigaciones relacionadas con el tema en cuestión.

Las investigaciones que versan sobre finanzas corporativas se han focalizado tradicionalmente en el estudio de decisiones financieras a corto y largo plazo, en particular, aquellas que atingen a las modificaciones en la estructura de capital, evaluación de fuentes de financiamiento y estrategias de maximización de valor, entre otras. Se colige a partir de aquí, que los procesos de gestión financiera forman una parte fundamental de la estrategia corporativa. El objetivo ulterior de este paper es analizar el desempeño financiero de 150 empresas del sector manufacturero y metalmecánico colombiano durante el periodo referencial 2019-2020. Para tal efecto, se estima un modelo de análisis discriminante de Fisher en procura de encontrar una combinación lineal de variables de orden económico, financiero y operativo y segmentar a las unidades estratégicas de negocios. Este set de parámetros proporciona información sobre las fuentes y detonadores de la inestabilidad, causada por dinámicas internas del sector en que se hayan circunscriptas las empresas. Los resultados indican que la fragilidad de las firmas surge como consecuencia de descoordinaciones en la política gestión de capital de trabajo. Así, por ejemplo, aquellas entidades que han adoptado esquemas especulativos y tipo Ponzi, exhiben peores indicadores de productividad, endeudamiento y de gestión de cartera, respecto a sus contrapartes con esquemas de financiación cubiertos.

La investigación está fundamentada de forma teórica y metodológica con elementos del análisis financiero, planificación financiera y administración del capital de trabajo, para justificar la caracterización de la entidad y el apoyo de los procesos de planeación y completar los presupuestos operativos, para analizar los resultados de las operaciones y transacciones comerciales a corto plazo. Aseverando una mejor toma de decisiones en la situación económica actual de la organización, fortaleciendo los informes mensuales y anuales obtenidos de la investigación, con el objetivo de realizar proyecciones y escenarios para alcanzar resultados óptimos. Logrado a través de la utilización de un conjunto de técnicas, métodos e instrumentos relacionados con los procesos de dirección, desde el método de razones simples, evolución de los ciclos operativos, de caja y cálculo del saldo óptimo de efectivo, para el análisis de cambios en la política de cobro, su factibilidad y proyección de los estados financieros. Para contar con información financiera oportuna y confiable a través de indicadores financieros y tomar medidas correctivas para minimizar los riesgos y obtener resultados reales sobre la situación financiera, con el fin de controlar la gestión de cada parte que conforma la empresa.

Copyright of Opuntia Brava is the property of Universidad de Ciencias Pedagogicas de Las Tunas, Centro de Documentacion e Informacion Pedagogica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

There is ample literature on the management of working capital, i.e., the relationships and interdependencies between its individual components and the influence on corporate performance. The objective of this paper is to perform a bivariate descriptive and correlational statistical analysis on a series of variables applicable to Argentine listed companies on the stock exchange, for the 2009-2018 timeframe of analysis. The most relevant results that emerge from the investigation show the existence of a strong direct relationship between the size and the indebtedness of the firms and a strong inverse link between the size and the operating cycle of the same.

Las micro, pequeñas y medianas empresas (Mipyme) representan un porcentaje muy importante del sector empresarial, contribuyendo a la generación de empleo y aportando al producto interno bruto. En los países en desarrollo se caracterizan por una administración empírica, lo que genera un alto grado de fracaso empresarial. El objetivo del artículo es reflexionar sobre las Mipyme y la administración del capital de trabajo desde una perspectiva social, a partir de la revisión y análisis documental, de carácter transversal, para fundamentar la propuesta preliminar de la perspectiva social de la administración del capital de trabajo, a través del vínculo con el contexto actual. The micro, small and medium enterprises (MSME) represent a very important percentage of the business sector, contributing to the generation of employment and contributing to the gross domestic product. In developing countries, they are characterized by an empirical management, which generates a high degree of business failure. The aim of the article is to reflect on MSME and the management of working capital from a social perspective, based on a cross- sectional review and analysis of documents to support the preliminary proposal of the social perspective of the management of working capital, through the link with the current context. As micro, pequenas e médias empresas (MPME) representam uma porcentagem muito importante do setor empresarial, contribuindo para a geração de emprego e contribuindo para o produto interno bruto. Nos países em desenvolvimento, eles são caracterizados por um gerenciamento empírico, que gera um alto grau de insucesso empresarial. O objetivo do artigo é refletir sobre as MPME e a gestão do capital de giro a partir de uma perspectiva social, a partir de uma revisão transversal e análise de documentos para subsidiar a proposta preliminar da perspectiva social da gestão do capital de giro, através do link com o contexto atual.

Copyright of Contaduría y Administración is the property of Facultad de Contaduria y Administracion-Universidad Nacional Autonoma de Mexico and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Studies about relationship among working capital elements and financial performance gained prominence, specially after the 2008 global financial crisis. However there is not studies about working capital and financial performance related to private port terminals. This study seeks to contribute to the literature analyzing the short-term financial performance in a Brazilian private port terminal considering the period from 2013 to 2020. Through correlation analysis and regression models selected, Inventory and Payable Accounts is determining variables to understand the financial performance on this case study. The conclusion shows that those elements is fundamental for value creating in short-term financial management. [ABSTRACT FROM AUTHOR]

La investigación se realizó en una muestra de 424 directivos de micro y pequeñas empresas de los municipios de Atlautla, Ozumba y Amecameca, Estado de México, con el objetivo de medir la asociación entre las variables hábitos de la administración del capital de trabajo y edad de la empresa para conocer cuál es la relación entre dichas variables y determinar su nivel de influencia en la supervivencia de las microempresas. Se encontró una correlación de Pearson de 0.133, lo cual indica una relación positiva débil entre las variables de estudio; mediante la regresión simple se calculó un r2 de 0.018, confirmando un baja nivel de influencia de la variable independiente. Abstract The research was carried out in a sample of 424 micro and small business managers from the municipalities of Atlautla, Ozumba and Amecameca, State of Mexico, with the aim of measuring the association between the variable habits of the management of the working capital and age of the company to know the relationship between these variables and determine their level of influence on the survival of the companies in that stratum. A Pearson correlation of 0.133 was found, indicating a weak positive relationship between study variables; simple regression calculated an r2 of 0.018, confirming a low level of influence of the independent variable.

Un emprendimiento puede ser a base de un producto tangible o intangible, dependiendo de la identificación de una necesidad insatisfecha en el sector y la forma de adquirirla o producirla para luego ponerla en percha u ofertar los servicios mediante planes de marketing. Sin embargo, la ausencia de conocimientos sobre la necesidad de un contingente financiero que soporte cubrir los costos fijos de un negocio frente a cambios de pago que tengan los clientes, es un motivo de quiebra del negocio. Con el presente trabajo se analizó la importancia de considerar un capital de trabajo como contingente, consultando a 20 emprendedores sobre las dificultades económicas en su negocio, teniendo como resolución que el mercado es cambiante y que las condiciones de pago cambian si existe un poder de negociación con el cliente. En los productos tangibles se pueden manejar dos formas, a crédito y al contado, sin embargo, se concluyó que la primera demanda de una negociación con el proveedor ya que para entregar la mercadería se debe entregar dinero en efectivo, limitado si es un negocio de pocos años, y que el emprendedor busca sacarlo lo más rápido posible para ganarse el margen de contribución, siendo la diferencia un costo de venta que es entregado al que elaboro el producto. Es necesario una planificación previa para que el negocio tenga la seguridad de tener un desarrollo económico positivo a largo plazo.

Introduction: For the contemporary world, accounting, economic and financial aspects continue to be important and it is presented with greater force in economic, social, governmental and political organizations, on principles, considerations and practices of achieving and maintaining sustainable development; in Cuba this was well defined in the Guidelines of the Economic and Social Policy of the Party and the Revolution (PCC, 2011), in its first part, the Economic Management Model with regard to the business sphere. Objective: Design a logical - methodological scheme to facilitate organizations, mainly from the business sector, an analysis of Working Capital (TC) with a sustainability approach. Methods: A review was made of the theoretical considerations on working capital (TC), its characteristics, particularities of financial management and its relationship with sustainability. A logical-methodological scheme was developed that consists of three dimensions and ten steps in total, based on the concepts of sustainability and financial management of the TC. Results: The TC that maintains stable growth and a logical interrelation between its components was conceptualized as sustainable TC, from an effective management of current assets and the financing needed to dispose of them, based on Baro (2019). Conclusions: By taking these elements into account, a financial balance is achieved where risks are minimized, under a focus on sustainability and social responsibility of the participants in its value chain, society and the environment. [ABSTRACT FROM AUTHOR]

Over the last few years, hard work has been done to achieve the efficient administration of the working capital that constitutes one of the factors that affects the strengthening of the Cuban economy. To address this problem, it is necessary to implement tools that facilitate making decisions that contribute to the efficient administration of financial resources in the Sancti Spiritus Post Office. With the application of the analysis and calculation methodology, it will allow that not only in the entity under study, but also in others in the state sector, the decision-making process can be enhanced and streamlined, helping to strengthen accounting and administration Efficient working capital according to planned levels. Among the methods applied are the historical and logical analysis, synthesis, deduction and induction, as well as documentary analysis of the provisions issued by the competent bodies. [ABSTRACT FROM AUTHOR]

The micro, small and medium enterprises (MSME) represent a very important percentage of the business sector, contributing to the generation of employment and contributing to the gross domestic product. In developing countries, they are characterized by an empirical management, which generates a high degree of business failure. The aim of the article is to reflect on MSME and the management of working capital from a social perspective, based on a crosssectional review and analysis of documents to support the preliminary proposal of the social perspective of the management of working capital, through the link with the current context. [ABSTRACT FROM AUTHOR]

Copyright of Espirales Revista Multidisciplinaria de Investigación is the property of Grupo Compas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The main purpose of working capital management is to maintain a balance between each of its components and, therefore, the balance between insolvency risk and profitability. The company can therefore adopt an aggressive or conservative policy of working capital management, depending on the management strategy. In this sense, the purpose of this article is to analyze the influence of working capital management strategies on the profitability of the companies listed in B3. It was then selected a sample of 152 companies listed in B3 and segregated between aggressive or conservative policy of working capital management. The period analyzed was from 2000 to 2014 and the data collected consists of current assets, current liabilities, total assets, total assets profitability and net assets' profitability. Data were organized and analyzed based on simple and multivariate regression. The results indicate that the investment strategy in working capital positively influences the profitability of total assets and shareholders' equity. As regards the financing policy, it was verified that the companies, when analyzed together, had a negative influence of the aggressiveness of financing on the profitability of assets and equity. However, companies that adopt aggressive financing policies above average and show above-average return on assets represent a positive influence of the financing policy on profitability. [ABSTRACT FROM AUTHOR]

At present, the integration between financial flows with materials and information is a necessity to contribute to the efficiency of logistics performance in supply chains. In this article, the Logistic Flow Integration Model in the Supply Chains is proposed with the aim of formulating a tool that facilitates the integration between logistics and financial accounting. The components that shape the model are identified and the procedure for its application is established. The technique of modeling and the factorial decomposition of the components of the financial statements is used. As a main conclusion, it is obtained that the Model is applicable and provides favorable results for the planning and administration of working capital in entities and enterprises, contributing to managerial decision-making and improving the efficiency of logistics in organizations. [ABSTRACT FROM AUTHOR]

This article offers empirical evidence on the relationship between the working capital and corporate profitability for the chemicals distribution sector in Colombia. The study looks at 48 companies during the 2008-2014 period. The results provide empirical evidence that there is a significant relationship between the factors pertaining to working capital and corporate profitability in the sector distribution sector in Colombia. The study looks at 48 companies during the 2008-2014 period. The results provide empirical evidence that there is a significant relationship between the factors pertaining to working capital and corporate profitability in the sector. There is negative and significant relationship between days sales outstandingdays payable outstanding, the cash conversion cycle, and corporate profitability

El presente artículo ofrece un análisis de los modelos para la prevención de bancarrota más citados en la literatura, entre los cuales están: modelo Z score de Altman, modelo de Ohlson, modelo de Beaver, modelo de árboles de decisión y modelo DuPont. Además, incluye un estudio de los modelos utilizados por el sector empresarial costarricense, en el cual se evidencia el desconocimiento sobre el tema, ya que la mayoría de empresas investigadas no utiliza o conoce ningún modelo con la capacidad de prevenir las bancarrotas. En ese sentido, las herramientas más utilizadas son las razones financieras, control sobre el presupuesto y, en algunos casos, el esquema integral de rentabilidad (Dupont). Abtract This article presents an analysis of the models for bankruptcy prevention most cited in literature, that is, the Z-score model by Altman, the Ohlson 0-score, the Beaver method, the Decision Tree model and the DuPont method. It also includes a study of models used by the Costa Rican business sector that shows a complete lack of awareness of the subject, since most of it does not know or use any model for bankruptcy prevention. To this end, financial ratios, budget control and in some cases the DuPont integral profitability methods are the ones most used.

Este artículo pretende ofrecer evidencias empíricas sobre la relación que existe entre el capital de trabajo y la rentabilidad empresarial para el sector de distribución de químicos en Colombia. En este estudio se investigan 48 empresas durante el periodo 2008-2014. Los resultados evidencian de forma empírica que existe una relación significativa entre los factores del capital de trabajo y la rentabilidad empresarial en el sector. Se observa una relación negativa y significativa entre los días de cuentas por cobrar, los días de cuentas por pagar, el ciclo de conversión de efectivo y la rentabilidad empresarial.