Padrão de financiamento de médias empresas da indústria de transformação do estado de São Paulo - 2003 a 2007

• Ano de defesa: 2009
• Autor(a) principal: Valentino, Thatiana de Barros
• Orientador(a): Carvalho, Carlos Eduardo Ferreira de
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Pontifícia Universidade Católica de São Paulo
• Programa de Pós-Graduação: Programa de Estudos Pós-Graduados em Economia Política
• Departamento: Economia
• País: BR
• Palavras-chave em Português: Padrão de financiamento; Teoria de estrutura de capital; Endividamento; Pequenas e medias empresas > Financas > Sao Paulo (estado); Industria de transformacao
• Palavras-chave em Inglês: Pattern of financing; Theory of capital structure; Indebtedness
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA
• Link de acesso: https://tede2.pucsp.br/handle/handle/9392

This dissertation analyzes the pattern of financing of 105 medium-sized enterprises of processing industry of the State of São Paulo, with capital closed. The methodology used in the analysis is the construction of economic-financial indicators using information from Balance Sheets published on the Gazeta Mercantil newspaper. The study covers the period from 2003 to 2007 to analyze the behavior of indebtedness and the pattern of financing of medium-sized enterprises in the years of significant expansion in credit to industry and fluctuations in the growth of the economy. The sample was constructed by the selection of companies that had net operating revenue between R$10.5 millions and R$60 millions in 2007 and published their balance sheets in the Gazeta Mercantil newspaper from 2003 to 2007, regardless of the net operating revenue presented in the other years of the period be in the range of the classification of company average. The predominance of self-financing and the assumption of the existence of an order in the use of funding sources, with internal resources as the first option, followed by debt, they are favorable to the assumptions of the pecking order theory. Despite the increase in supply of credit, it is observed in the companies of the sample to maintain high utilization of internal resources and the low level of indebtedness