TYPOLOGY OF FLEURIET AND THE FINANCIAL CRISIS OF 2008

• Autor(a) principal: Nascimento, Cristiano do
• Data de Publicação: 2012
• Outros Autores: Espejo, Márcia Maria dos Santos Bortolocci, Voese, Simone Bernardes, Pfitscher, Elisete Dahmer
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Universo Contábil
• Texto Completo: https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/2592
• topic: Financial Crisis. Fleuriet Model. Financial Structure.; Crisis Financiera. Modelo Fleuriet. Estructura Financiera.; Crise Financeira; Modelo Fleuriet; Estrutura Financeira.

This study aims to identify whether changes in the profile of Management Balance Sheet (MBS) of Brazilian companies occurred through the financial crisis period of 2008 triggered worldwide, and with consequences in Brazil, by the analysis of Fleuriet model typology. The sample consists of 87 companies listed simultaneously in the Exame Melhores e Maiores Magazine in 2009 and traded on BM&FBOVESPA (São Paulo Stock exchange). A descriptive analysis was performed with qualitative and quantitative approach, applied to dynamic variables and outcomes inherent to the typology. Among the study's findings, stands out: along the eight quarters analyzed, the variable treasury balance (ST) was negative in 46,84% of the sample, the variable need for working capital (WC) was negative in 16,67% of the sample; among the companies surveyed 63,2% had a positive balance for the working capital (WC) in the eight quarters analyzed. It was verified the predominance of the types 2 and 3 of MBS during 2008 and 2009. The reduction in the number of MBS with typology 2 and increase of typologies 3 and 4 in quarters related to the occurrence of financial crisis in Brazil stood out. However, it was observed that since it was a crisis announced by the United States government in 2007, from the beginning of the financial crisis in Brazil in October 2008 the number of companies subject to changes in its financial structure with a tendency to reduce the volume of funds invested in the management of working capital has increased.