Abstract

VALENCIA HERRERA, Humberto. Complementarity of long term and working capital investments for business opportunities and liquidity considerations in Latin American countries. estud.gerenc. [online]. 2015, vol.31, n.137, pp.364-372. ISSN 0123-5923.  https://doi.org/10.1016/j.estger.2015.07.004.

The objective of the study is the analysis of the relation between long term investment and investment in working capital, using the generalized least squares method for panel data with error correction for heteroscedasticity, and panel specific autocorrelation. From the above, it is found that investment in long-term assets in publicly traded companies from 7 major Latin American countries is preceded by increases in working capital, which strengthens the hypothesis that this occurs in response to improved business opportunities. This relationship is statistically significant in general and in companies that have high or medium, but not low leverage.

Keywords : Financial management; Short term; Investment; Latin America.

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