Resumo

ESCOBAR ARIAS, Gabriel Eduardo; ARIAS VARGAS, Francisco Javier; MOLINA OSORIO, Alejandra  e  ARANGO ALVAREZ, Rubén Darío. Relationships between the cash flows of companies in Caldas and the industrial sector's economic growth in the region between 2002 and 2010. Rev. Lasallista Investig. [online]. 2013, vol.10, n.1, pp.75-90. ISSN 1794-4449.

Introduction. This article analyzes the cash flows of companies from Caldas in their operation structures, their financing and their investments and their relationship with the regional economic environment during 2002 and 2010 is determined. Objective. T o establish the relationship that exists between the cash flows of companies from the industrial sector in Caldas that reported financial states to the Superintendencia de Sociedades between 2002 and 2010 and the behavior of the economic context in the region during the same period. Materials and methods. This research work has a documentary, descriptive-correlational character, due to the fact that, in the process, the cash flows of the operation, the financing and the investments were to be identified and correlated with the different macroeconomic variables that can affect them, such as GDP and unemployment in Caldas, the interest rates, DTF (the Colombian deposit interest rate) and IGBC (the Colombian stock market index) in Colombia, identifying, year by year, the reductions or the increases the cash flows may have, and their relationship with the behavior of the economy in the same periods. Results. In the cash flow analysis for the industrial sector, it can be confirmed that the net cash flows appear in a positive way, and therefore it can be said that cash flows generated liquid resources for the industrial sector. This is also confirmed due to two situations: The total cash flow was influenced by the operative cash flow and, simultaneously, the total cash flow received a positive contribution from the financing flow . It can be concluded, then, that the total cash flow in the companies from the industrial sector generated its liquidity through these two flows. Conclusion. This research work allows affirming that the industrial sector in Caldas, between 2002 and 2010, generated resources through its operative flow, and that it is the liquidity source for such companies.

Palavras-chave : cash flows; profitability; profitability of the asset; macroeconomic variables and sectors.

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