Índice da condição financeira dos estados (ICFE) a partir da análise fatorial por componentes principais: Ranking de desempenho dos estados brasileiros

Abstract

The present work has the objective of elaborating the Index of the Financial Condition of the Brazilian States (ICFE) from the Factorial Analysis by Principal Components. The study uses a quantitative approach with the empirical-analytical method. Data from the 26 states analyzed and from the Federal District were collected from the National Treasury Secretariat (STN) and the Transparency Portal of each of the respective entities. The research was carried out based on the years 2015, 2016 and 2017. For this purpose, the technique of Factorial Analysis by Principal Components was used, based on cash solvency indicators (Financial Flexibility, Representativeness of Financial Surplus, Relation between financial assets and liabilities, Coverage of expenses and Resources to cover the decrease of the collection). The results showed that the states of Tocantins (TO), Amapá (AM), Roraima (RR), and Espírito Santo (ES) presented better performance at ICFE in all analyzed years, indicating a better financial condition, whereas the states of Rio de Janeiro (RJ), Rio Grande do Sul (RS) and Minas Gerais (MG) presented worse performances in all the analyzed years. In this sense, the main contribution of the present work is the elaboration of an index that seeks to measure the financial condition of the states, serving as an auxiliary tool for the users of the accounting information in the process of evaluation of the financial condition of the Brazilian states.