ESTRATÉGIA DE CONCESSÃO DE CRÉDITO E SEU IMPACTO NO NÍVEL DE DEFAULT: O CASO DE UMA INDÚSTRIA DO RAMO DE PAPEL E CELULOSE

Abstract

The topic studied in this dissertation is the strategy for lending in the research line of Strategy of the program of Post graduation, Professional Master’s Degree in Management of UNICENTRO. In the business environment we constantly seek to perform strategic actions to maximize results. This research covers more specifically the financial context, within this area; a factor that could compromise the organization's well-being is reflected by the default that may occur when performing credit sales through the granting of credit. Companies that make sales paid in installments need tools to assist managers in evaluating potential buyers not to absorb the consequences of not receiving within the agreed period. In this sense, the general objective of this work is to describe the lending process as a strategy to reduce default. So that the objective could be achieved, the methodology used in this research was descriptive. Referring to this research means, it was a case study in an industrial company of pulp and paper in the Midwest region of Paraná. The approach was multi-method, where the qualitative method allowed the research to be conducted through an interview with the person responsible for the financial area of the enterprise. In addition, we used the quantitative method, which allowed exposing the impacts generated from the model of lending adopted by the company. Descriptive statistics were used, showing through charts and tables which was the default level during the study period. As far as the results, it was found that the company has developed a strategy aiming the reduction of default, obtaining therefore, satisfactory results by using the method designed to serve as a base for credit analysis. Based on data obtained from the credit analyst, it was possible to describe all stages of the procedure leading to this strategy that aimed to reduce default. The steps for creating this strategy were: a) delimitation of the sample, which was composed of all active clients of the organization studied; b) calculation of a group of economic-financial indexes composed of liquidity, profitability and capital structure, extracting data from the financial statements of customers; c) creation of Standardindexes from the raised levels; d) analysis and classification of customers in this model; e) definition of criteria for credit limits to be granted. Based on this process, it was determined scores for each customer ranging from 0 to 10, from this score, the percentage of credit is delimited to be released that can go from 0 to 20% in proportion to the score obtained by the analyzed company. From this assessment tool the company performed better in the years 2012 and 2013 in dealing with the delay in payments compared to the default levels of the years 2010 and 2011. By performing a considerable fall, it was thus proved the effectiveness of the strategy adopted. However, in 2014 it was possible to realize a slight increase compared to the previous years, which was due to a scenario of economic instability. It follows, therefore, that the strategy adopted is effective, but only if used assiduously, not transposing rules between sectors and, assuming a stable economic environment. There is also the characteristic developed by the company to have developed a dynamic capability in adapting, restructuring and rearranging before a continuously changing environment, allowing its competitiveness as regards the financial context of the organization.