Gestão de estoques e sua influência no desempenho financeiro: uma análise em empresas de manufatura

André Carrara Cotomácio; Jorge Luis Faria Meirelles; Nara Rossetti

doi:10.5585/exactaep.v19n1.14751

Autores

André Carrara Cotomácio UFSCar - Universidade Federal de São Carlos - Campus Sorocaba https://orcid.org/0000-0003-1471-5093
Jorge Luis Faria Meirelles UFSCar - Universidade Federal de São Carlos - Campus Sorocaba https://orcid.org/0000-0002-7911-2800
Nara Rossetti UFSCar - Universidade Federal de São Carlos - Campus Sorocaba https://orcid.org/0000-0002-6517-8112

DOI:

https://doi.org/10.5585/exactaep.v19n1.14751

Palavras-chave:

Estoques, Capital de Giro, Desempenho financeiro, Indústria Brasileira, INDX Bovespa

Resumo

O presente estudo avaliou como a manutenção dos níveis de estoque podem afetar a lucratividade, rentabilidade e o desempenho das ações na maximização da riqueza do acionista. Para tanto, foram feitas regressões de dados em painel a partir de dados financeiros de empresas que representam o setor de manufatura brasileiro, listadas no Índice do Setor Industrial (INDX) da BM&FBOVESPA (http://www.b3.com.br/pt_br/market-data-e-indices/indices/indices-de-segmentos-e-setoriais/indice-do-setor-industrial-indx.htm, recuperado em 23, Agosto, 2019). Os resultados apontam que a confirmação ou refutação dessa hipótese variam conforme a métrica financeira e de gestão de estoque utilizadas, respectivamente, como variáveis dependentes e independentes. Outro resultado observado é que a criação de valor ao acionista sofre maior influência ou é capaz de isolar melhor o efeito de uma correta gestão de estoques, se comparada a métricas de lucratividade e de rentabilidade, somente quando atrelada aos indicadores de estoques de matéria prima e de produtos acabados.

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Biografia do Autor

André Carrara Cotomácio, UFSCar - Universidade Federal de São Carlos - Campus Sorocaba

Mestre em Engenharia de Produção pela

Universidade Federal de São Carlos – UFSCAR – Campus Sorocaba

Jorge Luis Faria Meirelles, UFSCar - Universidade Federal de São Carlos - Campus Sorocaba

Doutor em Engenharia de Produção pela Escola de Engenharia de São Carlos da Universidade de São Paulo – EESC/USP.

Professor associado do Departamento de Engenharia de Produção da Universidade Federal de São Carlos - UFSCAR

Nara Rossetti, UFSCar - Universidade Federal de São Carlos - Campus Sorocaba

Doutora em Engenharia de Produção pela Escola de Engenharia de São Carlos da Universidade de São Paulo – EESC/USP.

Professora adjunta do Departamento de Engenharia de Produção da Universidade Federal de São Carlos - UFSCAR

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