Análise da liquidez dinâmica: estudo exploratório no setor de bens industriais.

Abstract

In the context of the Fleuriet model, it is possible to analyze the liquidity of a company in a dynamically way throught the dynamic liquidity thermometer, which establishes a relation between working capital and the need for working capital - the larger the first in relation the second, the more qualified the financial situation of the company. Therefore, the present study aimed to analyze the financial performance of the Industrial Goods sector under the parameter of the dynamic liquidity thermometer. With the dynamic liquidity thermometer history over the last ten years, the results were obtained and analyzed using the following quantitative methods: conventional statistical summaries, development and analysis of standard indices and non-parametric tests of Kruskal-Wallis and Bonferroni -Dunn. Analyzing the results collected from the Kruskal-Wallis’ test, the companies presents a statistically significant divergence in relation to the dynamic liquidity; while the Bonferroni-Dunn’s test, the multiple analysis was carried out on a par with the formation of groups according to the levels of liquidity. The companies remained throughout the analyzed period predominantly prone to the scissors effect, in other words, to finance the business operating activities from current liabilities sources, hindering the future self-financing.