A carregar...
Publicação
Financiamento das empresas e os determinantes da concessão de crédito: o setor privado em Cabo Verde
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 1.17 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
A presente investigação tem como objetivo central analisar os determinantes do financiamento das empresas e da concessão de crédito às empresas do setor privado em Cabo Verde. O acesso ao crédito constitui um elemento fundamental para a sustentabilidade e o crescimento das empresas, especialmente em economias em desenvolvimento e com estruturas produtivas frágeis.
Parte da premissa de que a dinâmica da concessão de crédito em Cabo Verde é influenciada por múltiplos fatores, entre os quais se destacam as condições macroeconómicas, os critérios de avaliação de risco adotados pelos bancos, a estrutura institucional do sistema financeiro e as características especificas das empresas, como a dimensão, forma jurídica, antiguidade e grau de formalização.
Com base numa abordagem metodológica de natureza quantitativa, recorrendo à análise de dados secundários e à aplicação de questionários a empresas privadas, o estudo procurou identificar os principais obstáculos ao acesso ao crédito e compreender a racionalidade subjacente às decisões das instituições financeiras.
Adicionalmente, os resultados empíricos permitiram identificar como principais determinantes da concessão de crédito às empresas cabo-verdianas: o histórico de crédito, a saúde financeira e o nível de endividamento das empresas, a existência de garantias, as taxas de juros aplicadas e a relação prévia com as instituições financeiras. Verificou-se ainda que fatores como a dimensão e a antiguidade das empresas influenciam positivamente a probabilidade de acesso ao crédito, enquanto a insuficiente formalização e a fraca capacidade de apresentação de garantias continuam a constituir obstáculos significativos.
Os resultados apontam que o fortalecimento institucional, o reforço da literacia financeira empresarial e a diversificação dos instrumentos de financiamento são medidas imprescindíveis para melhorar o ambiente de crédito e fomentar o desenvolvimento do setor privado em Cabo Verde.
This research aims to analyze the determinants of company financing and the granting of credit to companies in the private sector in Cape Verde, with a special focus on the factors that condition the granting of credit by financial institutions. Access to credit is a fundamental element for the sustainability and growth of companies, especially in developing economies with fragile productive structures. The investigation is based on the premise that the dynamics of corporate financing in Cape Verde are shaped by multiple factors, among which stand out macroeconomic conditions, the risk assessment criteria adopted by banks, the institutional structure of the financial system, and the specific characteristics of companies, such as size, legal form, age, and degree of formalization. Based on a mixed methodological approach, which combines the analysis of secondary data with questionnaires with key players in the financial and business sectors, the study seeks to identify the main barriers to accessing credit and to understand the underlying rationale behind lending decisions by banking institutions. Additionally, the empirical results made it possible to identify the main determinants of credit granting to Cape Verdean companies: credit history, financial health and the level of indebtedness of the companies, the existence of collateral, the interest rates applied, and the prior relationship with financial institutions. It was also found that factors such as the size and age of the companies positively influence the likelihood of access to credit, while insufficient formalization and weak capacity to provide collateral continue to constitute significant obstacles. The research concludes that institutional strengthening, enhancing financial literacy for businesses, and diversifying financing instruments are essential measures to improve the credit environment and promote the development of the private sector in Cape Verde.
This research aims to analyze the determinants of company financing and the granting of credit to companies in the private sector in Cape Verde, with a special focus on the factors that condition the granting of credit by financial institutions. Access to credit is a fundamental element for the sustainability and growth of companies, especially in developing economies with fragile productive structures. The investigation is based on the premise that the dynamics of corporate financing in Cape Verde are shaped by multiple factors, among which stand out macroeconomic conditions, the risk assessment criteria adopted by banks, the institutional structure of the financial system, and the specific characteristics of companies, such as size, legal form, age, and degree of formalization. Based on a mixed methodological approach, which combines the analysis of secondary data with questionnaires with key players in the financial and business sectors, the study seeks to identify the main barriers to accessing credit and to understand the underlying rationale behind lending decisions by banking institutions. Additionally, the empirical results made it possible to identify the main determinants of credit granting to Cape Verdean companies: credit history, financial health and the level of indebtedness of the companies, the existence of collateral, the interest rates applied, and the prior relationship with financial institutions. It was also found that factors such as the size and age of the companies positively influence the likelihood of access to credit, while insufficient formalization and weak capacity to provide collateral continue to constitute significant obstacles. The research concludes that institutional strengthening, enhancing financial literacy for businesses, and diversifying financing instruments are essential measures to improve the credit environment and promote the development of the private sector in Cape Verde.
Descrição
Palavras-chave
Financiamento empresarial Concessão de crédito Setor privado Sistema financeiro Cabo Verde