Estudo da relação causal entre os níveis organizacionais de folga, o risco e o desempenho financeiro de empresas manufatureiras

• Ano de defesa: 2009
• Autor(a) principal: Lima, André Fernandes
• Orientador(a): Basso, Leonardo Fernando Cruz
• Banca de defesa: Barros, Lucas Ayres Barreira de Campos , Famá, Rubens , Douat, João Carlos , Kimura, Herbert
• Tipo de documento: Tese
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Presbiteriana Mackenzie
• Programa de Pós-Graduação: Administração de Empresas
• Departamento: Administração
• País: BR
• Palavras-chave em Português: folga organizacional; risco; desempenho financeiro; método dos momentos generalizados (GMM)
• Palavras-chave em Inglês: organizational slack; risk; financial performance; generalized method of moments (GMM)
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS
• Link de acesso: http://dspace.mackenzie.br/handle/10899/23249

This dissertation aims to investigate the existence of a causal relationship between levels of organizational slack, the risk of the company and its performance. The point of departure is the conjecture that the magnitude of the organizational slack is a determinant factor of the risk as well as the performance of the company. The importance of this piece of research lies on the empirical fact that owners of a company are willing to take risks based on the prospect of returns. In order to test the causal relationship, it proceeds as follows. First, it collects data from 218 manufacturing companies in the period 2001-2007 and combines part of it through factor analysis so as to compose the three types of organizational slack: available, recoverable and potential ones. Second, the data is arranged in the form of a panel and is next assessed by the generalized method of moments (GMM). The results support the validity of the two proposed models: the first takes risk as the dependent variable, while the second takes future performance. The findings corroborate the hypothesis that the organizational slack has a nonlinear influence on risk and performance. In addition, they shed light on the increased robustness of the second model relative to the first one. This is regarded as the second contribution of the dissertation provided that most literature emphasizes the influence of the organizational slack over risk neglecting its role in performance. We go on to claim that the little attention paid to performance contributes to the available inconclusive empirical results within the literature.