Folga financeira e desempenho econômico: um estudo comparativo das empresas listadas no MLCX (índice midlarge cap) e SMLL (índice small cap)

Abstract

In the scenario of business corporations, talking about long-term sustainable functional development, it proves to be huge relevant to the company's performance in areas that go beyond the strategic plan and reach emergency situations, since the product of this relationship results in the capacity of adaptability and even growth in adverse scenarios. Therefore, to recognize the relationship between slack and performance in the organizational performance in companies of different categories of B3 (in Portuguese terms, Brasil, Bolsa, Balcão), namely in the MLCX (midlarge cap) and SMLL (small cap) indexes and whether the effects of extraordinary financial resources, in both categories, are close or divergent, configure the objective of this research, using descriptive statistics and econometric regression, having as a contribution the filling of a gap until then existing in the Brazilian literature. In summary, the effect of the financial slack variables on the economic performance coefficients shows distinct behavior between MLCX (midlarge cap) and SMLL (small cap) companies. Deducing from an analytical investigation from a temporal cut between 2013 and 2019, 755 observations, with the sample universe of 174 organizations, 70 of which are MLCX (midlarge cap) and 104 of SMLL (small cap), it was found that such relationship is distinct in the studied indexes and, consequently, the impacts were made explicit and listed throughout this study.