Fluxo de caixa e sua sensibilidade: uma análise nas empresas listadas na B3 no período de 2013 a 2019

Abstract

This study aimed to investigate the sensitivity of cash flows during the period of economic crisis in Brazil. For this research, a quantitative/descriptive approach was used to achieve its goals. The population consisted of companies listed on Brazilian Stock Exchange and the period studied was from 2013 to 2019. Data were collected using the Economatica database and quantitative techniques were applied for data analysis. The results show that the years of 2015 and 2016 had negative GDP growth, being considered years of crisis. It is observed that the average and median growth of the companies’ operating cash flow was affected in 2016, showing a reduction compared to the previous year. The average and median of the cash flow investments also reduced in the period 2014 to 2017. On the other hand, the median values of the financing cash flow were increased in the two years of crisis. Thus, it is concluded that the companies’ cash flows were affected by the crisis period.