Gestão financeira do capital de giro : um estudo exploratório em empresas supermercadistas do Vale dos Sinos - RS/Brasil.

Abstract

This study aimed to identify how compact-sized supermarket companies from the Sinos River Valley, in the state of Rio Grande do Sul, Brazil, with over ten years of existence, make the financial management of their working capital. The study was divided into two stages, one of them qualitative and the other quantitative. In the qualitative phase, we prepared a semi-structured interview, applying a nonprobability sample of convenience in 6 (six) compact supermarkets. In the second stage of the research, quantitative, in possession of the results of the previous step, we prepared a questionnaire with closed multiple choice questions, and the instrument for data collection was applied in a non-probability sample of convenience in 33 (thirty-three) supermarkets, 15 (fifteen) belonging to networks of cooperation and eighteen (18) working in isolation. Data analysis revealed that, in many cases, the same person makes purchases and controls stocks and accounts payable, leading companies not to use financial controls. Most companies do not work with cash flow, about 91% of respondents control the stock visually, and accounts payable are controlled by storing them in a folder, and once a week the manager calculates their sum. About 70% of companies have a well defined policy on load provisioning, in which supermarkets have their own store card and administer it; others have their own card and it is administered by a finance firm; some only extend credit via credit card; and others have their own system of credit and conduct the sale after consultation and analysis,. It was observed that companies purchase their products for resale where they find the best price; if there is any discount for cash payments and any increase in hire purchase, they opt for cash purchase. Many companies take advantage of these deals by buying beyond their demand and performing speculative purchasing. The financial gains by buying in cash and by opportunity and speculative purchases are transferred at the time of pricing, because companies understand that they become more competitive. It was also noticed that belonging to a network of cooperation improves the financial management of the company, with better policies for granting credit by participating in more training courses; besides that, such companies use more banking services and declared themselves less indebted than companies that act alone.