<?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>0123-1472</journal-id>
<journal-title><![CDATA[Cuadernos de Contabilidad]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Contab.]]></abbrev-journal-title>
<issn>0123-1472</issn>
<publisher>
<publisher-name><![CDATA[Pontificia Universidad Javeriana]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-14722018000100130</article-id>
<article-id pub-id-type="doi">10.11144/javeriana.cc19-47.ffde</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[Relação entre folga financeira e desempenho econômico em empresas cinquentenárias e não cinquentenárias]]></article-title>
<article-title xml:lang="es"><![CDATA[Relación entre holgura financiera y desempeño económico en empresas cincuentenarias y no cincuentenarias]]></article-title>
<article-title xml:lang="en"><![CDATA[Relation between Financial Slack and Economic Performance in Companies above and below 50 Years Old]]></article-title>
</title-group>
<contrib-group>
<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[Rohenkohl]]></surname>
<given-names><![CDATA[Leonardo Bernardi]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Bizatto]]></surname>
<given-names><![CDATA[Luana Sara]]></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[ ]]></addr-line>
<country>Brasil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidade Regional do Noroeste do Estado do Rio Grande do Sul  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<aff id="Af4">
<institution><![CDATA[,Centro de Educação de Jovens e Adultos  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<volume>19</volume>
<numero>47</numero>
<fpage>130</fpage>
<lpage>148</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-14722018000100130&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-14722018000100130&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-14722018000100130&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo O objetivo deste estudo é analisar a relação entre a folga financeira e o desempenho econômico em empresas cinquentenárias e não cinquentenárias. O intuito é fomentar pesquisas que levem em consideração as diferenças entre empresas com distinto tempo de permanência no mercado, devido a que existe escassez de pesquisas que considerem a idade da empresa. Para a realização do estudo, foram consultadas empresas listadas nos indicadores Índice Brasil 100 (IBrx-100) e Índice de Governança Corporativa &#8211; Novo Mercado (IGC-NM), da Bolsa de Valores, Mercadorias e Futuros de São Paulo, com uma amostra de 78 empresas não cinquentenárias e 34 empresas cinquentenárias. Por meio da estatística descritiva e da correlação canônica, concluiu-se que tanto em empresas cinquentenárias como em não cinquentenárias a folga financeira tem relação com o desempenho econômico. Assim, as empresas cinquentenárias possuem grau de relação mais forte entre os dois conjuntos de indicadores que as não cinquentenárias. Desta forma, é possível que as empresas devam considerar seu tempo de mercado, ou seja, o grau de estabilidade e maturidade que possuem, para compreenderem o menor ou maior uso da folga financeira com intuito de elevarem seus desempenhos econômicos, uma vez que uma maior relação entre a folga financeira e o desempenho econômico é perceptível em empresas com mais de 50 anos.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen  El objetivo de este estudio es analizar la relación entre la holgura financiera e el desempeño económico en empresas cincuentenarias y no cincuentenarias. El propósito es fomentar las investigaciones que tengan en consideración las diferencias entre empresas con distinto tiempo de permanencia en el mercado, debido a que existe escasez de investigaciones que consideren la antigüedad de la empresa. Para la realización del estudio fueron consultadas empresas enlistadas en los indicadores Índice Brasil 100 (IBrx-100) e Índice de Gobernanza Corporativa &#8211; Nuevo Mercado (IGC-NM), de la Bolsa de Valores, Mercancías y Futuros de São Paulo, con una muestra de 78 empresas no cincuentenarias y 34 empresas cincuentenarias. Por medio de la estadística descriptiva y de la correlación canónica, se concluyó que tanto en empresas cincuentenarias como no cincuentenarias la holgura financiera tiene relación con el desempeño económico. Así, las empresas cincuentenarias poseen un grado de relación más fuerte entre los dos conjuntos de indicadores que las no cincuentenarias. De esta forma, es posible que las empresas deban considerar su tiempo en el mercado, es decir, el grado de estabilidad y madurez que poseen, para comprender el menor o mayor uso de la holgura financiera con el propósito de elevar sus desempeños económicos, una vez que una mayor relación entre la holgura financiera y el desempeño económico es perceptible en empresas con más de 50 años.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract  This study aims to analyze the relationship between financial slack and economic performance in the companies above and below fifty years old. This is intended to promote researches taking into account the differences between companies with different seniority in the market, since there is a lack of research dealing with the seniority of the companies. To conduct this study, companies listed in the index Brazil 100 (IBrx-100) and the Corporate Direction Index-New Market (IGC-NM) from the Future, Goods and Stock Exchange of São Paulo were consulted. It provided a sample of 78 companies below fifty years old and 34 companies above fifty years old. By using the descriptive statistics and the canonical-correlation analysis, it is concluded that in both companies, above and below fifty years old, the financial slack is related to the economic performance. In addition, the companies above fifty years old show a relationship between these two sets of indicators stronger than the companies below fifty years old. This way, the companies may be willing to consider their seniority in the market, i.e., their level of stability and maturity in order to understand the higher or lower use of the financial slack to enhance their economic performance. The fact is that a greater relationship between financial slack and economic performance is perceived in the companies above fifty years old.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[folga financeira]]></kwd>
<kwd lng="pt"><![CDATA[desempenho econômico]]></kwd>
<kwd lng="pt"><![CDATA[empresas cinquentenárias]]></kwd>
<kwd lng="pt"><![CDATA[empresas não cinquentenárias]]></kwd>
<kwd lng="es"><![CDATA[holgura financiera]]></kwd>
<kwd lng="es"><![CDATA[desempeño económico]]></kwd>
<kwd lng="es"><![CDATA[empresas cincuentenarias]]></kwd>
<kwd lng="es"><![CDATA[empresas no cincuentenarias]]></kwd>
<kwd lng="en"><![CDATA[financial slack]]></kwd>
<kwd lng="en"><![CDATA[economic performance]]></kwd>
<kwd lng="en"><![CDATA[companies above 50 years old]]></kwd>
<kwd lng="en"><![CDATA[companies below 50 years old]]></kwd>
</kwd-group>
</article-meta>
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