Gestão do capital de giro, rentabilidade e valor:
impactos dos modos de entrada no mercado internacional
DOI:
https://doi.org/10.51359/1679-1827.2025.261564Palavras-chave:
Modos de Entrada, Internacionalização, Capital de Giro, Rentabilidade, Valor de EmpresasResumo
Objetivo: Analisar a influência da gestão do capital de giro na rentabilidade e no valor de multinacionais brasileiras, conforme o seu modo de entrada no mercado internacional.
Método/abordagem: A pesquisa descritiva, com abordagem quantitativa, utiliza dados secundários de 2007 a 2021, analisados por regressão linear múltipla com dados em painel. A amostra é composta por 43 multinacionais presentes no Ranking das Empresas Brasileiras mais Transnacionalizadas entre 2007 a 2011.
Contribuições teóricas/práticas/sociais: Os resultados ampliam a literatura ao demonstrar que modos de entrada não patrimoniais, aliados à gestão eficiente do capital de giro, geram valor aos acionistas, apesar de não impactar a rentabilidade. Ainda, auxilia os gestores no processo de internacionalização e amplia o escasso conhecimento do tema em mercados emergentes, com potencial impacto no crescimento e desenvolvimento econômico local.
Originalidade/relevância: A relação investigada é inédita na literatura e contribui com a ampliação das pesquisas sobre os modos de entrada em relação a multinacionais de mercados emergentes.
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