Relaciones entre los flujos de efectivo de las empresas de Caldas y el crecimiento económico regional para el sector servicios durante el período de 2002 a 2010

Relaciones entre los flujos de efectivo de las empresas de Caldas y el crecimiento económico regional para el sector servicios durante el período de 2002 a 2010

The objective of this research was to establish the relationship that exists between the Caldas’s companies service sector cash flows that reported financial statements to the Superintendencia de Sociedades for the period 2002 - 2010 and regional economic environment behavior during the same period of time.
The methodological development was done like this: we had to get the operating , financing and investment cash flows of companies in the sector, then extracted the time series of macroeconomic variables GDP and Caldas’s unemployment , interest rates, DTF and Colombian IGBC, then, we developed a historical analysis of the behavior of the sector and macroeconomic variables independently. Finally, we did a classification of cash flows and macroeconomic variables for correlation and also the analysis of return on assets and profits of the companies covered by this study.
The research results showed the correlation between operating cash flows, investment and financing, with each of the macroeconomic variables mentioned above where we find that the contribution of this sector companies to regional GDP is not representative for development.