PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL
Autor(a) principal: | |
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Data de Publicação: | 2006 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Produção Online |
Texto Completo: | https://www.producaoonline.org.br/rpo/article/view/292 |
Resumo: | This article has as purpose to analyze the degree of the financial managers' perception among small and middle organizations about the capital cost. The data were collected within 27 companies in 10 sections of the Brazilian economy. The method chosen for data collection relies greatly on personal interviews based on route previously elaborated. The interviews demonstrated that most of the interviewees even does not know about the cost of equity. The ones who know about it, in its majority, measure like as the minimum rate of profitability, measured for the cost of lost opportunity. In the regard of the cost of debt, most of them know and were unanimous to confirm that the cost of debt is explicit and it already comes defined by the financial institutions, in its contracts. It was observed that among the managers interviewed which affirmed to know the cost of equity and cost of debt, the great part were in the management position, had college degree in accounting or engineering,, had more than 15 years of experience in these functions, had over 40 years, worked within companies 21 years old and over in the market, and were basically male. Key-words: Cost of Equity, Cost of Debt, Small and Middle Business. |
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PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITALPERCEPÇÃO DOS GESTORES FINANCEIROS DAS PEQUENAS E MÉDIAS EMPRESAS QUANTO AO CUSTO DE CAPITALThis article has as purpose to analyze the degree of the financial managers' perception among small and middle organizations about the capital cost. The data were collected within 27 companies in 10 sections of the Brazilian economy. The method chosen for data collection relies greatly on personal interviews based on route previously elaborated. The interviews demonstrated that most of the interviewees even does not know about the cost of equity. The ones who know about it, in its majority, measure like as the minimum rate of profitability, measured for the cost of lost opportunity. In the regard of the cost of debt, most of them know and were unanimous to confirm that the cost of debt is explicit and it already comes defined by the financial institutions, in its contracts. It was observed that among the managers interviewed which affirmed to know the cost of equity and cost of debt, the great part were in the management position, had college degree in accounting or engineering,, had more than 15 years of experience in these functions, had over 40 years, worked within companies 21 years old and over in the market, and were basically male. Key-words: Cost of Equity, Cost of Debt, Small and Middle Business.Este artigo, de cunho exploratório-descritivo, tem como objetivo analisar o grau de percepção dos gestores financeiros das pequenas e médias empresas quanto ao custo de capital. Foram coletados os dados de 27 empresas, pertencentes a 10 setores da economia. O método escolhido para coleta de dados foi a entrevista pessoal estruturada em um roteiro previamente elaborado. Constatou-se que a maioria dos entrevistados não conhece o custo do capital próprio. Os que conhecem mensuram, em sua maioria, como a taxa mínima de rentabilidade exigida, mensurada pelo custo de oportunidade perdida. No que diz respeito ao custo do capital de terceiros, grande parte conhece e foi unânime em afirmar que o custo do capital de terceiros é explícito e já vem definido pelas instituições financeiras, em seus respectivos contratos. Observou-se que, dos gestores entrevistados que afirmaram conhecer o custo de capital próprio e de terceiros, grande parte ocupava o cargo de diretoria, possuía formação em contabilidade ou engenharia, tinham mais de 15 anos de experiência na função, tinham acima de 40 anos de idade, trabalhavam em empresas com 21 anos ou mais de existência no mercado e era do sexo masculino. Palavras-chave: Custo de Capital Próprio, Custo de Capital de Terceiros, Pequenas e MédiasAssociação Brasileira de Engenharia de Produção2006-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.producaoonline.org.br/rpo/article/view/29210.14488/1676-1901.v6i2.292Revista Produção Online; Vol. 6 No. 2 (2006)Revista Produção Online; v. 6 n. 2 (2006)1676-1901reponame:Revista Produção Onlineinstname:Associação Brasileira de Engenharia de Produção (ABEPRO)instacron:ABEPROporhttps://www.producaoonline.org.br/rpo/article/view/292/368Copyright (c) 2014 Revista Produção Onlineinfo:eu-repo/semantics/openAccessMachado, Márcio André VerasMachado, Márcia ReisLeonardo Callado, Aldo Cunha2015-11-11T17:26:59Zoai:ojs.emnuvens.com.br:article/292Revistahttp://producaoonline.org.br/rpoPUBhttps://www.producaoonline.org.br/rpo/oai||producaoonline@gmail.com1676-19011676-1901opendoar:2015-11-11T17:26:59Revista Produção Online - Associação Brasileira de Engenharia de Produção (ABEPRO)false |
dc.title.none.fl_str_mv |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL PERCEPÇÃO DOS GESTORES FINANCEIROS DAS PEQUENAS E MÉDIAS EMPRESAS QUANTO AO CUSTO DE CAPITAL |
title |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
spellingShingle |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL Machado, Márcio André Veras |
title_short |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
title_full |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
title_fullStr |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
title_full_unstemmed |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
title_sort |
PERCEPTION OF THE FINANCIAL MANAGERS OF THE SMALL AND MIDDLE BUSINESS WITH RELATIONSHIP AT THE COST OF CAPITAL |
author |
Machado, Márcio André Veras |
author_facet |
Machado, Márcio André Veras Machado, Márcia Reis Leonardo Callado, Aldo Cunha |
author_role |
author |
author2 |
Machado, Márcia Reis Leonardo Callado, Aldo Cunha |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Machado, Márcio André Veras Machado, Márcia Reis Leonardo Callado, Aldo Cunha |
description |
This article has as purpose to analyze the degree of the financial managers' perception among small and middle organizations about the capital cost. The data were collected within 27 companies in 10 sections of the Brazilian economy. The method chosen for data collection relies greatly on personal interviews based on route previously elaborated. The interviews demonstrated that most of the interviewees even does not know about the cost of equity. The ones who know about it, in its majority, measure like as the minimum rate of profitability, measured for the cost of lost opportunity. In the regard of the cost of debt, most of them know and were unanimous to confirm that the cost of debt is explicit and it already comes defined by the financial institutions, in its contracts. It was observed that among the managers interviewed which affirmed to know the cost of equity and cost of debt, the great part were in the management position, had college degree in accounting or engineering,, had more than 15 years of experience in these functions, had over 40 years, worked within companies 21 years old and over in the market, and were basically male. Key-words: Cost of Equity, Cost of Debt, Small and Middle Business. |
publishDate |
2006 |
dc.date.none.fl_str_mv |
2006-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.producaoonline.org.br/rpo/article/view/292 10.14488/1676-1901.v6i2.292 |
url |
https://www.producaoonline.org.br/rpo/article/view/292 |
identifier_str_mv |
10.14488/1676-1901.v6i2.292 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://www.producaoonline.org.br/rpo/article/view/292/368 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2014 Revista Produção Online info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2014 Revista Produção Online |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Associação Brasileira de Engenharia de Produção |
publisher.none.fl_str_mv |
Associação Brasileira de Engenharia de Produção |
dc.source.none.fl_str_mv |
Revista Produção Online; Vol. 6 No. 2 (2006) Revista Produção Online; v. 6 n. 2 (2006) 1676-1901 reponame:Revista Produção Online instname:Associação Brasileira de Engenharia de Produção (ABEPRO) instacron:ABEPRO |
instname_str |
Associação Brasileira de Engenharia de Produção (ABEPRO) |
instacron_str |
ABEPRO |
institution |
ABEPRO |
reponame_str |
Revista Produção Online |
collection |
Revista Produção Online |
repository.name.fl_str_mv |
Revista Produção Online - Associação Brasileira de Engenharia de Produção (ABEPRO) |
repository.mail.fl_str_mv |
||producaoonline@gmail.com |
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