Influência de variáveis macroeconômicas sobre o desempenho econômico-financeiro de empresas: uma análise no setor têxtil e de vestuário brasileiro

Abstract

This paper aimed at analyzing the influence of macroeconomic variables on the financial performance of public companies which belong to brazilian textile-apparel industry. The secondary data were collected especially from the companies’ finnancial statements through the quantum® system. In total, we analyzed quarterly data of 26 companies from 2010 to 2015. The quarterly data about macroeconomics variables were collected from public sites as brazilian institute of economics and statistics and the central bank. The following techniques were applied for analyzing the collected data: descriptive statistics and panel data regression analysis. This type of regression analysis was employed for estimating models which explain the influence of macroeconomics variables on the different financial ratios of selected companies. It was verified that the companies of the segment of yarns and fabrics tend to present a lower liquidity and higher indebtedness than other companies. Moreover, it was observed a significant influence of exchange rate on the companies’ indebtedness. It is important to note that the inflation was the only macroeconomic variable that was not significant among all the estimated models.