Resumo

BUEREN, Ilse Maria; STAROSKY FILHO, Loriberto  e  KRESPI, Nayane Thais. Organizational slack versus financial performance: A study of companies on BM & FBovespa. Contad. Adm [online]. 2014, vol.59, n.2, pp.145-177. ISSN 0186-1042.

This goal of this study is to identify the relationship between different forms of organizational slack with the financial performance of companies listed on Bovespa, taking into consideration previous factors highlighted by Sharfman, Wolf, Chase and Tansik (1988). Data of 273 companies were collected from Economática®, besides consultations in the financial statements of the years from 2006 to 2010. Following the procedures adopted in the replicated study of George (2005), the correlation matrix and descriptive statistics of the variables were calculated. It was also analyzed graphically the behavior of the criteria of high and low slack against the financial performance of companies and the analysis of panel data was done, using the fixed effects model. The results show that the models used in that study were not highly explanatory in this research. However, a significant relationship between financial performance and the criterion of low slack was obtained. Even in a preliminary way, it is possible to conclude that the increase of low slack results in the increase of financial performance, but in the long run this performance shows a decreasing trend. As the organizational slack was constituted differently in the companies surveyed by George (2005) and in the ones in this study, the field of investigation for explanations of the differences is enlarged.

Palavras-chave : organizational slack; financial performance; performance evaluation.

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