The relationship between the behavior of the current liquidity indicator of publicly traded agribusiness companies by the variation of economic indexes in Brazil

Abstract

Inserted in a context of increased importance of agribusiness in the country's economy, concomitant with a period of negative economic variations, the objective of this article was to analyze the relationships between the fluctuation of variables related to the economic context of Brazil, with the behavior of the Liquidity Indicator Current (ILC) of 33 agribusiness companies, listed on the B3 SA Stock Exchange between 2010 and 2016. As a quantitative research, the static technique of Panel Data Analysis was used for the study of emerging data relationships. And the results showed that the most significant relationships for the ILC, came from the companies that support the sector. In the macroeconomic context, a direct relationship between the GDP and the ILC was identified, and at the microeconomic level, the unanimity of the relations between the ILC and the independent variables, indicated that the sector's economic activity was significantly related to the short-term financial surplus. publicly traded agribusiness companies. It was concluded that when measuring the ratio of the ILC by the behavior of the country's macroeconomic indices, that the variable presented a statistically significant relationship only with the GDP due to the operational increase that the increase in the country's wealth generated in the company's short-term assets. Regarding the statistical metric of the microeconomic relationship, the conclusion was that the ILC was driven by the positive balance of agribusiness trade balance in the period, and by the good performance of agriculture. Since livestock, observed within the Agribusiness GDP variable, was negatively related to the ILC of the analyzed companies, and therefore did not cooperate with the short term situation of the analyzed companies expressed from the Current Liquidity Indicator (ILC).

Keywords

• indicador de liquidez corrente
• índices econômicos
• análise de dados em painel
• empresas de capital aberto do agronegócio brasileiro