Dissertations / Theses on the topic 'Short term export financing'

In first chapter this work describes security instruments which banks offer to their clients. In second chapter it deals with state credit support, and security instruments in it, and also compares the situation in Czech republic with the situation in a few ex-Yugoslavian republics. In the last chapter work points at possibilities of short term export financing.

This diploma thesis deals with the short-term methods of export financing and with credit risk management of the exporter. The part of this work desribes the trade credits, bank credits and factoring as a common instruments of international trade financing. The last part of this work try to bring together the impacts of financial crisis on trade credit availability and export credit insurance.

Firms that face seasonal demand account for an important fraction of the U.S. economy. However, there is surprisingly little evidence on these firms' financing decisions. Yet, studying these decisions provides a natural setting to shed light on the types of capital (i.e. cash or debt) that firms use to manage short-term financing needs. Using seasonal firms as a setting to examine this issue, I show that seasonal financing needs are met with debt with low exposure to information asymmetry, such as short-term debt and trade credit. I further show that cash reserves, which have high carrying costs and can at time lead to agency problems, are not used for seasonal financing needs. Further, as financial flexibility theory would predict, I document that seasonal firms maintain more conservative financial policies to increase the ability to use debt for short-term financing needs. Specifically, seasonal firms are less levered and have long-term debt with a longer average maturity. Further, seasonal firms adjust toward leverage targets slower during fiscal quarters when debt is used for short-term financing. Overall, my findings indicate that firms minimize costs associated with short-term financing needs by using debt with low issuance costs and the use of this debt impacts the overall capital structure of the firm.

Previous researchers, especially on large enterprises, have revealed that debt financing structure influences enterprise performance. Though the issue has been extensively researched, micro, small, and medium-sized enterprises (MSMEs) have traditionally been operating differently as compared to large enterprises in terms of their financial decisions, ownership and management style, and behaviour. Therefore, this study will explore the gaps encountered by all MSMEs to grow their businesses. These include forms and type of industry, firm size, asset tangibility, and a firm’s current assets in relation to its current liabilities and profitability level. The study examines the influence of financing structures on performance of micro, small and medium-sized enterprises (MSMEs) in South Africa. The ordinary least squares (OLS) technique of measurement is applied to examine the effects of financing structure on performance across various industrial sectors in the years 2013, 2014 and 2015. The findings in this study indicate an increase in the use of leverage to drive the influence of total debt on performance in all industrial sectors of MSMEs in South Africa. From the cross-sectional regression analysis, the results show that financing structure has a negative effect on the profitability of MSMEs, although not absolutely. The findings show that the size of the enterprise, asset tangibility, and the ratio of current assets to current liabilities are the most influential of borrowing decisions in total debt, short-term debt, and long-term debt. A significantly negative effect is observed for long-term debt, while short-term debt (STDR) exhibits a significantly positive effect. Thus the influence on MSMEs’ leverage on performance is driven by the usage of short-term debt. The variables of size of the firm, and ratio of current assets to current liabilities, do not have the same effect in all debt levels; the significance is substantially higher for long-term debt than for total debt and short-term debt. On the other hand, our empirical results suggested that transactional costs, and an asymmetric information problem in smaller firms, may lead to a mainly negative influence on size and total debt. The asset structure on profitability observed across the years showed mixed experiences. The ratio of current assets to current liabilities was found to be positive and significant on long-term debt and short-term debt leverage.

This thesis deals with factoring as a short-term debt financing. The theoretical part of the thesis discusses financial analysis of the company, working capital financing and enterprise receivables management, including the possibility of funding claims. The widest part is devoted to the description of factoring, factoring types, features, advantages and disadvantages. We also describe the course of a typical factoring case from the beginning to the end of the contract. Part of this work is devoted to a description accounting for factoring and comparison in factoring and revolving credit. Last part shows the factoring financing impact in specific firm on financial analysis indicators. The positive impact of factoring in the increase primarily reflected the Company's liquidity and payment behavior of customers.

I investigated the immediate effects of clear-cut logging on the export of invertebrates and organic matter from headwater streams by using a Before, After, Control, Impact, Paired series approach (BACIP). Seventeen high elevation streams within two study areas (Horsefly River and Eagle Lake) in the southern interior of British Columbia, Canada were sampled for drifting macro-invertebrates, fine particulate organic matter (FPOM), and dissolved organic carbon (DOC). Invertebrate drift was collected by diverting the entire stream flow through a 250 µm mesh drift net over a 24 hour period (in triplicate for a total of 72 hours), directly before and one year after logging. I compared differences between 10 clear-cut treatment and 7 control streams in terms of invertebrate drift biomass/abundance flux (mg 24 hrs-1and invertebrates 24 hrs⁻¹), invertebrate drift biomass/abundance density (mg m⁻³ and invertebrates m⁻³), and FPOM and DOC concentration and flux (mg L⁻¹ and mg 24 hrs⁻¹). In addition to total invertebrate export, biotic metrics in the form of composition measures, taxa richness and diversity were calculated to determine changes in the invertebrate drift community. In the pre-impact phase of this study, I found that headwater streams were productive exporters of invertebrates (18-5382 invertebrates 24hrs⁻¹) and organic matter (FPOM: 3-516 g 24hrs⁻¹, DOC: 105-1579 g 24hrs⁻¹). In the post-impact analysis, significant increases in total drifting invertebrate biomass and abundance flux were detected in clear-cut streams at Horsefly River. Additionally, community analysis of the drift composition showed significant changes in flux and density of Ephemeroptera (E), Plecoptera (P), Trichoptera (T) and Diptera (D). %EPT (ratio of EPT/total invertebrate abundance) was the only measure to indicate reduced abundance of sensitive taxa as a result of logging at both study areas. Significant changes in diversity were also observed at Eagle Lake. Overall, no significant responses in total flux or concentrations of FPOM and DOC were revealed. It is possible that seasonal and longer term annual monitoring may further define trends that were observed in the short term.

BAKGRUND: Ökade växthusgasutsläpp och större klimatpåverkan speglar dagens samhälle allt mer. Bygg-och anläggningssektorn står idag för en femtedel av Sveriges totala klimatpåverkan och är en bransch som behöver ta steg framåt för att minimera den. Ett instrument som har använts för att motivera och skapa finansiella samt klimatmässiga fördelar för projekt som kan visa på en lägre klimatpåverkan är grön finansiering. Grön finansiering bygger på att projekt kan påvisa en mindre klimatpåverkan för att kunna ta del av de finansiella fördelar det skulle innebära. Dock har tidigare forskning runt ämnet visat att detta bortses av investerare och beslutsfattare av olika orsaker trots att klimatdebatten blir allt mer tydlig. Avsaknad av tydliga regelverk, standarder eller policyer lyfts av tidigare forskning samtidigt som hot kan anas i form av för hårda åtstramningar. En analys av bygg-och anläggningssektorns syn på grön finansiering och gröna projekt och vad marknaden behöver för att i framtiden kunna vara finansiellt hållbar är någonting som behövs för att marknaden ska kunna ta steg framåt. SYFTE: Syftet med studien är att analysera de finansiella fördelarna och riskerna som grön finansiering medför. Utifrån en analys av grön finansiering inom ramen för bygg-och anläggningssektorn kommer sedan förslag till sätt marknaden kan utvecklas på att föreslås utifrån ett finansiellt perspektiv. GENOMFÖRANDE: Studien har genomförts genom kvalitativa, semi-strukturerade intervjuer med respondenter kopplade till bygg-och anläggningsbranschen samt grön finansiering. Som tillägg har en kartläggning av erbjudande inom grön finansiering sammanställts från två respondenter. Utifrån tidigare forskning samt rapporter ställdes frågor runt grön finansiering och dess finansiella påverkan på marknaden. Utifrån svaren från aktörerna kunde en analys göras av var de aktiva aktörerna såg marknaden idag samt dess viktigaste aspekter för framtiden. SLUTSATS: Studiens slutsats är att den gröna finansieringsmarknaden behöver införa ett graderingssystem för att på så sätt skilja projekt åt. Ett sådant system skulle fungera som ett incitament för projekt att gå mot att bli gröna då det inkluderar en prissättning av sådant som inte lever upp till kraven för att bli gröna och fördelar för de som tar allra störst klimatansvar. Det skulle också möjliggöra för investerare som vill ta högre risk att investera i projekt som i dagsläget inte är gröna men som har som ambition att bli det. Utöver graderingssystemet behöver det också kompletteras av mer obligatoriska regelverk för att öka utbudet av grön finansiering på marknaden.
BACKGROUND: Increased greenhouse gas emissions and greater climatic impact reflect today's society more and more. Today, the construction and civil engineering industry accounts for one fifth of Sweden's total climate impact and is an industry that needs to take steps to minimize it. An instrument that has been used to motivate and create financial and climatic benefits for projects that can show a lower climate impact is green financing. Green financing is based on the fact that projects can show a minor impact on the climate in order to be able to take advantage of the financial benefits it would entail. However, previous research on the subject has shown that this is ignored by investors and decision-makers for various reasons, although the climate debate is becoming increasingly clear. The lack of clear regulations, standards or policies is highlighted by previous research, while at the same time one can perceive a threat in the form of too tight austerities. An analysis of the construction industry’s view today of green financing and green projects and what the market needs in order to be financially sustainable in the future is something that is necessary for the market to be able to take steps forward. AIM: The purpose of the study is to analyze the financial benefits and risks that green financing entails. On the basis of an analysis of green financing within the framework of the construction and civil engineering sector, then proposals for ways in which the market can be developed are proposed from a financial perspective. COMPLETION: The study was conducted through qualitative, semi-structured interviews with respondents linked to the construction and civil engineering sectors and green financing. In addition, a survey of green financing offers has been compiled from two respondents. Based on previous research and reports, questions were asked about green financing and its financial impact on the market. Based on the responses from the players, an analysis could be made of where the active players saw the market today and its most important aspects for the future. CONCLUSION: The study concludes that the green financing market needs to introduce a grading system in order to separate projects. Such a system would serve as an incentive for projects to go green as it includes pricing of things that do not meet the requirements to become green and benefits those who take the greatest climate responsibility. It would also make it possible for investors who want to take a higher risk of investing in projects that are not green at the moment, but which have the ambition to become so. In addition to the grading system, it also needs to be supplemented by more mandatory regulations to increase the supply of green financing in the market.

Cílem mé diplomové práce je analyzovat krátkodobé finanční řízení ve zvolené akciové společnosti, konkrétně v letech 2000 - 2008. V teoretické část jsem definovala nejen základní pojmy v oblasti pracovního kapitálu, ale především metody řízení zásob a pohledávek, náklady s nimi spojené, problémy z oblasti řízení zásob a pohledávek, vymezení a řízení peněžních prostředků a krátkodobé financování.Tyto informace jsem převedla do praktické části a uplatnila je při analýze krátkodobého finančního řízení v konkrétním podniku ve sledovaném období 2000 - 2008. Dále jsem zhodnotila pracovní kapitál, kde jsem provedla hodnocení jednotlivých typů podnikových zásob, druhů pohledávek a finančního majetku, který podnik vykazuje. Na závěr jsou shrnuty výsledky jednotlivých analýz a navrhnuta doporučení, týkající se zjištěných nedostatků v oblasti řízení oběžného majetku a jeho financování.

Le financement à court terme est le parent pauvre de la théorie financière. Pourtant, les moyennes entreprises françaises utilisent fortement ce financement. Ce travail a pour objectif d’analyser les déterminants du financement à court terme pour ces entreprises. La première partie vise à établir une revue de littérature des théories permettant d’expliquer l’utilisation du financement à court terme. La deuxième partie vient tester empiriquement ces théories sur deux échantillons, à savoir 201 entreprises familiales et 1 453 entreprises managériales. Il s’agit, d’une part, de caractériser les moyennes entreprises non cotées et d’autres part, de mettre en évidence les déterminants à l’utilisation de financement à court terme. Les principaux résultats indiquent que le financement à court terme est un outil de gestion au service de la moyenne entreprise. Il peut aussi assumer deux rôles, un compensatoire et/ou un de trésorerie passive. Par ailleurs, on met en évidence que les entreprises managériales et familiales exploitent différemment le financement à court terme
Short-term financing is forgotten by theory of corporate finance. However, French medium-sized firms use a lot this source of funding. The objective of this thesis is to analyze the determinants of short-term financing for these firms. The first part aims to establish a literature review of theories to explain the use of short-term financing. The second part empirically checks these theories on two samples, specifically 201 family businesses and 1,453 managerial firms. On the one hand, it is a question of characterizing the unlisted medium-sized enterprises and on the other hand, highlighting the determinants of the use of short-term financing. The primary results indicate that short-term financing is a management tool for the medium-sized enterprise. It can also have two functions, one compensatory and / or one passive cash. Furthermore, it brings out that managerial and family businesses exploit short-term financing differently

Introduction générale Cette thèse présente trois essais sur l’influence de la culture nationale sur la finance d’entreprise. Il se base sur le cadre théorique de la nouvelle économie institutionnel (NEI) de Williamson (2000) et sur le modèle de la culture nationale définit par Hofstede (1980, 2001). Cette thèse s’inscrit dans la lignée des travaux plus anciens des fondements de la richesse des nations (Smith, 1776), qui seraient eux-mêmes fondés sur les traditions, les croyances et les pratiques des habitants d’une nation (Voltaire, 1773). Nous lions les trois ensembles de la culture nationale, la finance d’entreprise et les secteurs industriels par les propriétés mathématiques de la topologie (Krantz, 2009). Nous essayons d’appliquer la topologie générale à notre recherche doctorale en ayant à l’esprit, la phrase attribuée à Galilée (1564-1642) : « la nature est écrite en langage mathématique ». Notre approche topologique pourrait aussi s’aligner à la littérature de l’économie sociale de Weber (1904, 1905) et à celle du néo-positivisme (Kraft, 1953). Ces essais empiriques sont fondés sur un échantillon de firmes internationales cotés issues de plus de 30 pays, à minima à la bourse des valeurs de leur pays d’origine. Premier essai Il analyse l’influence de la culture nationale sur le choix de la structure du capital de la firme (Titman & Wessels, 1988). L’analyse de la structure financière est considérée à court-terme et à long-terme. Pour cela nous analysons quatre mesures de structure qui prennent en compte au numérateur soit la dette à court-terme, soit la dette à long-terme et, au dénominateur les fonds propres, en valeur comptable ou en valeur de marché (Titman & Wessels, 1988). La structure du capital de la firme est dépendante de son industrie (Bradley et al., 1984). tend à s’approche de la moyenne à long-terme de cette même industrie. Cette moyenne et appelée « ratio cible » (target ratio). Nous supposons que la distance de la structure financière d’une firme par rapport à ce « ratio cible » est influencée par la culture nationale du pays d’origine de la firme.Deuxième essai Il analyse l’influence de la culture nationale sur la variation du crédit fournisseur autour de la crise financière de 2008. La fréquence des crises ne cesse d’augmenter avec plus de 400 crises financières de types bancaires, monétaires, et souveraines sur la période de 1970 à 2011 (Laeven & Valencia, 2013).Le crédit fournisseur est considéré comme un des piliers du financement à court-terme de l’entreprise en particulier (Petersen & Rajan, 1997). Lors d’une période de difficulté financière, la relation entre fournisseurs et clients semblerait jouer un rôle-clé dans l’extension du crédit fournisseur (Wilner, 2000). Or, le rôle du crédit fournisseur dans le financement à court-terme de la firme a joué un rôle de premier plan après l’éclatement de la crise de 2008 (Coulibaly et al., 2013).Sur la base que la culture nationale influe sur le niveau des provisions comptable du crédit fournisseur (El Ghoul & Zheng, 2016), notre étude porte sur l’influence de la culture nationale sur les ajustements de crédit fournisseur autour de la crise financière de 2008.Troisième essai Cet essai analyse l’influence de la culture nationale sur la valeur de marché de la firme en se fondant notamment sur l’approche proposée dans les travaux de Ohlson (1995). En effet, dans ce cadre-ci, la valeur de marché de la firme est la somme de son actif net comptable et de la somme des revenus résiduels actualisés. Si ces revenus résiduels sont positifs, alors il existe un goodwill qui explique ce pourquoi la valeur de marché est supérieure à l’actif net comptable. Nous postulons dans cet essai que la culture nationale pourrait influencer ce goodwill. Ce goodwill peut avoir plusieurs sources, soit liées aux choix financiers de la firme ou liées à son capital humain (Chauvin et al., 1994). (...)
The premises of this doctoral dissertation is investigating the role played by national culture on corporate financial choices and outcomes. The investigation is done through three empirical essays. The first essay analyzes the influence of national culture on firms’ capital structure choices. The second essay is analyzing the role played by national culture on firms extending more or less trade credit from pre-to-post the mortgage financial crisis. The third essay analyzes the influence of national culture on firms’ market value. Furthermore, a chapter of theoretical conceptualization is done to fit these empirical essays work into a mathematical topology framework. This doctoral dissertation work finds itself at the junction of three broad sets of research bodies. These are the literature around the New Institutional Economics (NIE), the finance literature, and the social economics literature. We glue these literature sets together through the general mathematical topology framework to structure our culture and finance research. Chapter 2 introduces these literature sets and describes the foundations of our three essays.Chapter 3 (essay one) presents the analysis of the links between national culture and firms financing choices leading to their capital structure. Chapter 4 (essay two) presents the analysis of culture’s influence on firm’s choice of extending higher or lower trade credit from pre-to-post the 2008 mortgage financial crisis. Chapter 5 (essay three) presents how firms’ financial value maybe influenced national cultural values.National culture is defined as the firm’s country-of-origin cultural values. We represent it by four of Hofstede (1980, 2001) six cultural dimensions of individualism, masculinity, uncertainty avoidance, and long-term orientation. Hofstede national culture dimensions are largely applied in the growing culture and finance literature, thus providing strong empirically validity. Our choice of Hofstede dimensions are described in chapter 2.We apply these cultural dimensions in our three essays. Our empirical analysis is build following the New Institutional Economics framework (Williamson, 2000). This framework is the key structure around which we are able to build the theoretical bodies of our three essays. NIE has popularized the understanding and acceptance of the non-financial constraints –in macro-and-micro economics– of the social embeddedness level of culture. We empirically test the hypotheses in our three essays following Williamson NIE framework. The empirical tests are done on samples of listed firms from over 30 countries. These tests provide a broad applicability of our results to firms in the globalized economy. The results of our three essays meet our hypotheses expectations of culture’s influence on firms’ financial choices and outcomes.The results provide all stakeholders a lens to view and analyze corporate financial choices and outcomes through firms’ national culture values. Indeed, the financial numbers one may read may have different meaning depending on firm’s country-of-origin cultural values. This understanding would have multiple implications for investors, creditors, managers, shareholders, and policy makers. It may help them in their investing, lending, financing, returns expectations, and policy design to optimize their profits

碩士
東吳大學
會計學系
92
The trade receivables securitization of World Peace Industrial Co., Ltd. (WPI) is the first securitization program in Taiwan which allows a firm (non-financial Institution) to act as an originator and the trade receivables to be securitized to commercial paper. By case studying, we have found the associated problems with accounting, taxation, regulations, and related market functions and will be able to improve the feasibility of securitization. After the ABCP of WPI being issued successfully, the short-term financing will become more flexible for industrial firms.

碩士
淡江大學
會計學系碩士班
101
There are little research about working capital financing policy and profitability. Even after taking into the trade-off theory can’t be consistent with the theoretical conclusions. In the study, we modify the measure based on the definition of WCFP. And in different cash conversion cycle and the change of the environment, to investigate more aggressive working capital financing policy on performance. The article have used panel data for the period of 2000-2011 to estimate the impact of working capital financing policy on long-term and short-term performance from Taiwanese electronic listed firms. And make sample distinction between the upper, middle and to lower stream of industry. The results show that there are a statistical significant negative relationship between working capital financing policy and return on equity、return on sales for overall. In the view of different cash conversion cycle, the more cash conversion cycle is shorter, the more working capital financing policy is a significant positive correlation with return on assets,; In the view of different environment changed, the more environment is active, the more working capital financing policy is a significant positive correlation with return on assets.

This thesis describes the natural variation and influence of aspen harvesting on stream chemical concentration and flow-weighted export from catchments typical of the Western Boreal Plain, Alberta, Canada. The catchment stream discharge and stream chemical concentrations presented are taken from a subset of a five-year paired catchment (2005-2010) HEAD2 NSERC-CRD study. Nutrients, major anions, major cations and two minor ions were monitored from second-order streams draining a 18.3 sq km reference catchment (R1) and compared to a 9.9 sq km experimental catchment (H1) for two years of pre-harvesting (2005-2006) and two years of sequential harvesting (2007-2008). Preliminary analyses showed that non-harvest high flows had a total average instantaneous export greater than 10 times that of low flows. In addition, summer storms and beaver dam breakages had stream export equivalent to or greater than spring melt. Intensive upland aspen harvesting showed no significant differences in major cation and anion export post-harvest with the exception of increased sulfate.
Ecology

The object of this research was to determine the risks and the rewards of providing reverse factoring as a financing technology for small and mediumsized enterprises (SMEs) in South Africa. There have been a number of financing technologies provided to SMEs in South Africa and reverse factoring has not been taken advantage of. The financing technologies that have been offered range from trade credit, to collateralised loans, overdraft facilities, etc. Most if not all of these technologies are based on some form of security which is usually the SME’s immovable assets. This research project contributes to the body of knowledge that deals with SME finance. A survey was done to find out the views of SME owners, procurement managers, finance managers and financiers concerning the risks and rewards of providing reverse factoring to SMEs. Ten propositions were formulated. A qualitative research methodology, using semi-structured interviews was used to rate the risks and rewards associated with providing reverse factoring. The results showed that the rewards far outweigh the risks by a ratio of 1: 0.6. For reverse factoring as a financing technology this is positive and is worth pursuing. The risks of lack of collateral and the risk of fraudulent invoices are the most prevalent. A boost in economic activity in the SME space and the provision of much needed liquidity were the most noted rewards of providing reverse factoring to SMEs in South Africa. Copyright
Dissertation (MBA)--University of Pretoria, 2012.
Gordon Institute of Business Science (GIBS)
unrestricted

The emerging financial industry of asset-backed short-term finance was investigated by this study. Literature indicated that banks, locally and globally, are forced by regulation and the use of information technology, to rely less on human judgement and more on programmed decision-making, when evaluating loan applications. This leads to time-consuming processes with non-standard loan applications and loss of opportunities for business persons. Asset-backed short-term finance is a market response to this tendency. Due to the emerging nature of this industry, no previous academic description of or investigation into this industry could be found – a gap in academic literature which this study aims to fill. The industry is strategically positioned in relation to banks by focusing on functionality for urgent non-standard loan applications (period between application and decision, and access to decision-makers) as value proposition, where banks are found lacking. Relatively high interest rates form the profit proposition, as firms in this industry have limited access to funds. Collateral is central as risk-mitigating strategy, forming a part of the profit proposition. The people proposition is essential, as the industry is distinguished by individualised decision-making. A survey among customers of this industry identified four clusters of potential customers: The first had no needs unfulfilled by banks, while the other three clusters were attracted by either functionality, or the evaluation of collateral in contrast to repayment ability, or a combination of the two. A survey among providers revealed hesitance to supply information and a low level of agreement on strategic matters – possibly due to the emergent nature of the industry. It is asserted that the basis for further study was laid.
Business Management
D. Com. (Business Management)

During photosynthesis Plantaginaceae species can produce glucose derivatives such as iridoid glycosides and alcohol sugars that in addition to sucrose can be exported from leaves. Plantago lanceolata transported sorbitol in addition to sucrose especially at warmer leaf temperatures. However, two iridoids, catalpol and aucubin, found in P. lanceolata were not readily labelled from 14CO2 under any conditions examined. In contrast, in two greenhouse, cut-flower cultivars of Antirrhinum majus the iridoids, antirrhinoside and antirrhide, were readily 14C-labelled along with sucrose but little 14C was recovered in alcohol sugars (e.g., mannitol). The amount of 14C-partitioned into antirrhinoside increased at higher temperatures. Exposing leaves of P. lanceolata and A. majus to reduced-photorespiratory conditions (e.g. short-term CO2 enrichment and/or low O2) increased fixation and export. Under low O2 in P. lanceolata sorbitol 14C-labelling increased relative to sucrose and in A. majus 14C-labelling of sucrose increased relative to antirrhinoside. Also 14C-labelling of antirrhide increased more than antirrhinoside. During both short-term and long-term acclimation to high CO2, whole plant NCER, leaf photosynthesis and export increased in A. majus. Taken together the temperature and CO2 enrichment studies show plasticity in Plantaginaceae species to synthesize and transport sucrose and auxiliary glucose esters and alcohol sugars in a species-specific manner (depending on the rate of carboxylation).

O factoring é um tipo de financiamento de curto prazo que visa financiar as contas a receber dos que subscrevem este serviço. Os seus problemas de tesouraria podem ver-se resolvidos com este tipo de serviço como irá mostrar a descrição do funcionamento deste serviço, que pode ser subscrito por empresas de todas as dimensões. O presente trabalho apresenta ainda alternativas que possam ser diretamente comparados com o financiamento aqui detalhado, o factoring. O BNP Paribas Factor e a sua carteira de clientes são a principal razão deste trabalho ser possível, uma vez que a comparação é feita entre estes e a indústria portuguesa. O factoring é uma operação que visa cessar os créditos de curto prazo das contas a receber de uma empresa Iremos compreender porque é que as empresas recorrem a ele e porque é que o consideram como uma vantagem competitiva para a empresa. Vantagens que podem ser resumidas como o conhecimento aprofundado do cliente do cliente, a rápida obtenção de liquidez e ainda os serviços que estão indexadas a este serviço. A História do factoring, os tipos de factoring oferecidos, o factoring hoje as características das empresas que a subscrevem no BNP Paribas Factor e como se comportam em relação à indústria são os grandes focos deste trabalho.
O factoring é um tipo de financiamento de curto prazo que visa financiar as contas a receber dos que subscrevem este serviço. Os seus problemas de tesouraria podem ver-se resolvidos com este tipo de serviço como irá mostrar a descrição do funcionamento deste serviço, que pode ser subscrito por empresas de todas as dimensões. O presente trabalho apresenta ainda alternativas que possam ser diretamente comparados com o financiamento aqui detalhado, o factoring. O BNP Paribas Factor e a sua carteira de clientes são a principal razão deste trabalho ser possível, uma vez que a comparação é feita entre estes e a indústria portuguesa. O factoring é uma operação que visa cessar os créditos de curto prazo das contas a receber de uma empresa Iremos compreender porque é que as empresas recorrem a ele e porque é que o consideram como uma vantagem competitiva para a empresa. Vantagens que podem ser resumidas como o conhecimento aprofundado do cliente do cliente, a rápida obtenção de liquidez e ainda os serviços que estão indexadas a este serviço. A História do factoring, os tipos de factoring oferecidos, o factoring hoje as características das empresas que a subscrevem no BNP Paribas Factor e como se comportam em relação à indústria são os grandes focos deste trabalho.