A dinamicidade do capital de giro e a previsão de insolvência das empresas do setor de hotéis e restaurantes na pandemia da Covid-19

Abstract

This study aimed to investigate the behavior of working capital and the insolvency forecast of the 4 companies in the hotel and restaurant segments, listed in B3, from the first quarter of 2018 to the first quarter of 2021, establishing a comparison between the previous periods and after the beginning of the covid-19 pandemic and analyzing the impact suffered by the entities. The analysis was performed through the application of Fleuriet's dynamic model and complemented with the Prado model (2018). Documentary research was also necessary, since the financial statements (BP and DRE) were sources for data collection. The results found through the calculations performed on the dynamic variables showed that both the working capital and the forecast of insolvency of companies were affected with the beginning of the pandemic in 2020. In the hotel segment, a greater difficulty in financial recovery was noted in comparison with the restaurant segment, since it was completely stopped for a significant period in 2020, which did not occur for the other segment (restaurants). This study can contribute as a source of research for scholars and investors, since, in addition to spreading knowledge about Fleuriet's model and insolvency prediction, it also presents the financial performance of a sector with great importance for the Brazilian economy.