Análise do capital de giro de empresas de agronegócio em período de crise

Abstract

Working capital is the set of resources that a company has to finance its operational needs, such as cash, inventories, accounts receivable and others. Good working capital management is fundamental to the operational performance of companies. Ineffective working capital management has contributed to the closure of companies. Working capital management becomes even more important and relevant in times of economic crisis. In this context, the objective of this research is to analyze the working capital of agribusiness companies, during the period 2012-2021, in which two major crises occurred in Brazil. The companies were randomly selected and the agribusiness sector was chosen due to its great economic importance in Brazil. The companies studied were: JBS, SLC Agrícola, São Martinho and Marfrig The research carried out is exploratory and quantitative and used the multiple case study method. Financial data from companies was collected on the B3 website. The research results indicate that throughout the research period all companies increased their working capital, but the percentage of investments in working capital remained practically constant regardless of the economic scenarios experienced in Brazil during the study period. It was also found that inventories and accounts receivable increased during crises in all companies. The cash flow of companies has reduced and that of the other two has increased and companies need more time to pay their obligations. Furthermore, it was observed that companies sought third-party resources to strengthen their cash flow and face economic instability.