Capital de giro e Investimento: A relação entre a duração do ciclo operacional e as restrições financeiras ao investimento das empresas industriais com capital aberto no período de 2007-2020

Abstract

Large companies are responsible for investment dynamics, so understanding their investment decisions is relevant. Therefore, working capital and investments tend to be related to the operational cycle of companies, since the latter comprises the period between disbursements for business operations and cash inflows. Thus, by logic, companies that need a greater amount of working capital to keep their activities flowing have difficulty making long-term investments, permanent assets, due to a possible financial restriction for investments, as they end up losing investment capacity. The present work used qualitative research, bibliographical research and quantitative research, data analysis, to reach the objective of the research, which is to verify how Brazilian industrial companies from different sectors behave in relation to the operational cycle, the need for working capital and whether they face financial constraints on carrying out investments.