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Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector

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  • Additional Information
    • Publication Information:
      UNIVERSIDAD NACIONAL DE COLOMBIA, 2011.
    • Publication Date:
      2011
    • Abstract:
      Se indaga la relación entre la presencia de planificación financiera y las dificultades de acceso al financiamiento en pequeñas y medianas empresas (Pymes) del sector manufacturero venezolano. Es una investigaci/on de tipo explicativa, con diseño de campo no experimental, transversal y correlacional, aplicada a una muestra de 67 Pymes; se aplica un cuestionario y revisión de literatura pertinente, para establecer las características de las variables seleccionadas, según la escala de medición alta-media-baja para cada uno de los indicadores seleccionados. Los resultados preliminares permiten afirmar que la variable planificación financiera muestra una presencia media en las empresas, con niveles medios y bajos de articulación entre sus componentes. El acceso al financiamiento promedio se califica como bajo, destacándose un acceso medio-alto en el crédito de proveedores, un acceso medio en la reinversión de utilidades y medio-bajo en la línea de crédito bancario; también se evidencian patrones de financiamiento compatibles con la Teoría del orden preferente. Se concluye que existe una relación débil entre las características de la planificación financiera y los niveles de acceso al financiamiento, infiriéndose que el comportamiento de estas variables es determinado por multiplicidad de factores. L'auteur veut aborder la relation entre la présence de planification financière et les difficultés d'accès au financement dans les petites et moyennes entreprises (Pymes) du secteur manufacturier vénézuélien. Il s'agit d'une investigation de type explicatif, sur un terrain non expérimental, transversal et corrélationnel, appliquée à un échantillon de 67 petites et moyennes entreprises; un questionnaire est appliqué et les publications pertinentes sont consultées, pour établir les caractéristiques des variables sélectionnées, selon l'échelle de mesure haute-moyenne-basse pour chaque indicateur sélectionné. Les résultats préliminaires permettent d'affirmer que la variable planification financière démontre une présence moyenne dans les entreprises, avec des niveaux moyens et peu élevés d'articulation entre les composants. L'accès au financement moyen est peu élevé, signalant un accès moyen-élevé dans le crédit des fournisseurs, un accès moyen dans le réinvestissement des bénéfices et moyen-peu élevé dans la ligne de crédit bancaire; des modèles de financements compatibles avec la Théorie de l'ordre préférant sont aussi évidents. En conclusion, il existe une relation peu élevée entre les caractéristiques de la planification financière et les niveaux d'accès au financement, déduisant que le comportement de ces variables est déterminé par une multiplicité facteurs lndaga-se a relação entre a presença de planejamento financeiro e as dificuldades de acesso ao financiamento em pequenas e médias empresas (PME) do setor manufatureiro venezuelano. É uma pesquisa de tipo explicativa, com desenho de campo não experimental, transversal e correlacional, aplicada a uma amostra de 67 PME; aplicou-se um questionário e revisão de literatura pertinente, para estabelecer as características das variáveis selecionadas, segundo a escala de medição alta-média-baixa para cada um dos indicadores selecionados. Os resultados preliminares permitem afirmar que a variável "planejamento financeiro" mostra uma presença uma presença média nas empresas, com níveis médios e baixos de articulação entre seus componentes. O acesso ao financiamento médio qualifica-se como baixo, destacando-se um acesso médio - alto no crédito de fornecedores, um acesso médio no reinvestimento de lucros e médio - baixo na linha de crédito bancário; também evidenciam-se padrões de financiamento compatíveis com a Teoria da Ordem de Preferência. Conclui-se que existe uma fraca relação entre as características do planejamento financeiro e os níveis de acesso ao financiamento, inferindose que o comportamento destas variáveis é determinado por uma multiplicidade de fatores. The relationship between the presence of financial planning and difficulties regarding access to financing in small and medium-sized companies (SMEs) in the Venezuelan manufacturing sector is studied. This is an explicative type research work, designed as non-experimental, cross-sectional and correlational field work, applied to a sample of 67 SMEs. A questionnaire was applied and a review was made of the relevant literature, to establish the characteristics of the selected variables, according to the high-medium-low measurement for each of the selected indicators. The preliminary results make it possible to affirm that the financial planning variable demonstrates a medium presence in the companies, with medium and low levels of coordination among their components. Average access to financing is classified as low, marked by a medium-high access to credit from suppliers, medium access in reinvestment of profits and medium-low access to bank credit lines. There is also evidence of financing patterns compatible with the Pecking Order Theory. The conclusion is that there is a weak relationship between the characteristics of financial planning and the levels of access to financing, with the inference that the behavior of these variables is determined by a multiplicity of factors.
    • ISSN:
      01215051
    • Accession Number:
      edsjsr.23744043
  • Citations
    • ABNT:
      MARY A. VERA-COLINA; GUILLERMO RODRÍGUEZ-MEDINA; ZURAY MELGAREJO-MOLINA. Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector. Innovar: Revista de ciencias administrativas y sociales, [s. l.], v. 21, n. 42, p. 99, 2011. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428. Acesso em: 7 abr. 2020.
    • AMA:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina, Zuray Melgarejo-Molina. Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector. Innovar: Revista de ciencias administrativas y sociales. 2011;21(42):99. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428. Accessed April 7, 2020.
    • APA:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina, & Zuray Melgarejo-Molina. (2011). Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector. Innovar: Revista de Ciencias Administrativas y Sociales, 21(42), 99.
    • Chicago/Turabian: Author-Date:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina, and Zuray Melgarejo-Molina. 2011. “Financial Planning and Access to Financing in Small and Medium-Sized Companies in the Venezuelan Manufacturing Sector.” Innovar: Revista de Ciencias Administrativas y Sociales 21 (42): 99. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428.
    • Harvard:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina and Zuray Melgarejo-Molina (2011) ‘Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector’, Innovar: Revista de ciencias administrativas y sociales, 21(42), p. 99. Available at: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428 (Accessed: 7 April 2020).
    • Harvard: Australian:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina & Zuray Melgarejo-Molina 2011, ‘Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector’, Innovar: Revista de ciencias administrativas y sociales, vol. 21, no. 42, p. 99, viewed 7 April 2020, .
    • MLA:
      Mary A. Vera-Colina, et al. “Financial Planning and Access to Financing in Small and Medium-Sized Companies in the Venezuelan Manufacturing Sector.” Innovar: Revista de Ciencias Administrativas y Sociales, vol. 21, no. 42, 2011, p. 99. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428.
    • Chicago/Turabian: Humanities:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina, and Zuray Melgarejo-Molina. “Financial Planning and Access to Financing in Small and Medium-Sized Companies in the Venezuelan Manufacturing Sector.” Innovar: Revista de Ciencias Administrativas y Sociales 21, no. 42 (2011): 99. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428.
    • Vancouver/ICMJE:
      Mary A. Vera-Colina, Guillermo Rodríguez-Medina, Zuray Melgarejo-Molina. Financial planning and access to financing in small and medium-sized companies in the Venezuelan manufacturing sector. Innovar: Revista de ciencias administrativas y sociales [Internet]. 2011 [cited 2020 Apr 7];21(42):99. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.23744043&custid=s8280428