<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0123-5923</journal-id>
<journal-title><![CDATA[Estudios Gerenciales]]></journal-title>
<abbrev-journal-title><![CDATA[estud.gerenc.]]></abbrev-journal-title>
<issn>0123-5923</issn>
<publisher>
<publisher-name><![CDATA[Universidad Icesi]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-59232019000400399</article-id>
<article-id pub-id-type="doi">10.18046/j.estger.2019.153.3366</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[Influência da folga financeira no desempenho econômico de empresas industriais brasileiras e mexicanas]]></article-title>
<article-title xml:lang="en"><![CDATA[Influence of financial slack in the economic performance of Brazilian and Mexican companies]]></article-title>
<article-title xml:lang="es"><![CDATA[Influencia de la holgura financiera en el rendimiento económico de empresas brasileñas y mexicanas]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pamplona]]></surname>
<given-names><![CDATA[Edgar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[da Silva]]></surname>
<given-names><![CDATA[Tarcísio-Pedro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Toshiro-Nakamura]]></surname>
<given-names><![CDATA[Wilson]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidade Regional de Blumenau  ]]></institution>
<addr-line><![CDATA[Blumenau ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidade Regional de Blumenau  ]]></institution>
<addr-line><![CDATA[Blumenau ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidade Presbiteriana Mackenzie  ]]></institution>
<addr-line><![CDATA[São Paulo ]]></addr-line>
<country>Brazil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>35</volume>
<numero>153</numero>
<fpage>399</fpage>
<lpage>415</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-59232019000400399&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-59232019000400399&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-59232019000400399&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este estudo objetiva verificar a influência da folga financeira no desempenho econômico de empresas industriais brasileiras e mexicanas. Realizou-se pesquisa descritiva, documental e quantitativa, com amostra de 152 empresas, sendo 107 brasileiras e 45 mexicanas, investigadas entre 1996 e 2014. Os resultados encontrados através de regressões lineares direcionam que a folga proporciona melhora (relação positiva) na performance corporativa. Todavia, as regressões quadráticas apontam, em ambos os contextos estudados, com poder explicativo superior, que a relação entre folga e desempenho é não linear. Tal fato confirma que há um ponto ótimo de folga financeira que maximiza os resultados corporativos, sendo diferente para empresas brasileiras e mexicanas. Tais achados devem ser observados por gestores visando a melhor gestão dos recursos disponíveis nas organizações. Classificações JEL: G32, G39.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This study aims to verify the influence of the financial slack on the economic performance of Brazilian and Mexican industrial companies. We conducted a descriptive, documentary, and quantitative research. The sample included 152 companies, 107 Brazilian and 45 Mexican, studied from 1996 to 2014. The findings suggest, through linear regressions, that the slack provides an improvement (positive relation) in corporate performance. However, quadratic regressions point out in both contexts studied, with superior explanatory power, that the relation between slack and performance is nonlinear. This fact confirms there is an optimal point of financial slack that maximizes the corporate results, being different for Brazilian and Mexican companies. These findings should be noticed by managers in order to better manage the resources available in organizations.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este estudio busca verificar la influencia de la holgura financiera en el rendimiento económico de empresas industriales brasileñas y mexi- canas. Se realizó una investigación descriptiva, documental y cuantitativa que incluyó una muestra de 152 empresas, 107 brasileñas y 45 mexicanas que fueron estudiadas entre 1996 y 2014. Los hallazgos indican, a través de regresiones lineales, que la holgura proporciona una mejora (relación positiva) en el rendimiento corporativo. Sin embargo, regresiones cuadráticas señalan en los dos contextos estudiados, con poder explicativo superior, que la relación entre holgura y rendimiento no es lineal. Este hecho confirma que hay un punto óptimo de holgura financiera que maximiza los resultados corporativos, el cual es diferente para las empresas brasileñas y las mexicanas. Estos hallazgos deberían ser tenidos en cuenta por los administradores con el fin de administrar mejor los recursos disponibles en las organizaciones.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[folga financeira]]></kwd>
<kwd lng="pt"><![CDATA[desempenho econômico]]></kwd>
<kwd lng="pt"><![CDATA[empresas industriais]]></kwd>
<kwd lng="en"><![CDATA[financial slack]]></kwd>
<kwd lng="en"><![CDATA[economic performance]]></kwd>
<kwd lng="en"><![CDATA[industrial companies]]></kwd>
<kwd lng="es"><![CDATA[holgura financiera]]></kwd>
<kwd lng="es"><![CDATA[rendimiento económico]]></kwd>
<kwd lng="es"><![CDATA[empresa industrial]]></kwd>
</kwd-group>
</article-meta>
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