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La gestion du fonds de roulement des PME en période de récession économique

Author

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  • Noomane Ketata

    (UQTR - Université du Québec à Trois-Rivières)

  • Josée St-Pierre

    (UQTR - Université du Québec à Trois-Rivières)

Abstract

La gestion du fonds de roulement représente un des éléments fondamentaux de la gestion des PME et celle-ci prend une dimension toute particulière lorsque les entreprises font face à un important ralentissement économique. Dans cette étude, nous démontrons comment les dirigeants des PME ont fait face à cette situation, en analysant les modifications apportées à leurs décisions de gestion du fonds de roulement pendant la récession qui a affecté l'économie nord-américaine en 1991-1992. Les résultats obtenus à partir des questionnaires reçus montrent que les PME ont subi un allongement de leur période de conversion des comptes clients. Pour stimuler l'accélération des paiements, les entrepreneurs ont augmenté leur taux d'escompte d'un demi point en moyenne. Toutefois, la récession n'a pas amené les dirigeants à durcir significativement leur politique de recouvrement. Du côté du financement, il apparaît que l'allongement de la période de conversion des comptes-clients a été financé par un allongement de la période de paiement des fournisseurs et non par une augmentation du financement bancaire. Pour ce qui est des stocks, les résultats montrent que les PME n'ont pas modifié leur politique de gestion des stocks et finalement, il n'a pas été possible de montrer que les PME ont répercuté les baisses de demande sur le niveau de leurs stocks.

Suggested Citation

  • Noomane Ketata & Josée St-Pierre, 1996. "La gestion du fonds de roulement des PME en période de récession économique," Post-Print hal-01703496, HAL.
    • Handle: RePEc:hal:journl:hal-01703496
    Note: View the original document on HAL open archive server: https://hal.science/hal-01703496
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    References listed on IDEAS

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    1. Richard Burns & Joe Walker, 1991. "A Survey of Working Capital Policy among Small Manufacturing Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 1(1), pages 61-74, Spring.
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