This research investigates the impact of quality management systems on working capital management of Brazilian manufacturing SMEs. The companies analyzed were selected with a stratified sampling technique based on economic criteria. The data was collected through a questionnaire that was administered through a face-to-face interview. The time horizon subject to observation was three years and concerned the period 2016-2018. Overall, 122 companies participated in the research. The analysis was developed using statistical matrix tools. The results are statistically significant and suggest that companies using quality management systems have more efficient working capital management, collect receivables faster and pay off debts faster.

This paper studies the relationship between leverage and its main determinants, focusing on Chilean SMEs. To develop the survey, we used trade-off theory and pecking order theory, as these theories are more suitable for explaining the financial decisions of SMEs. The companies analyzed were selected using a stratified sampling technique based on an economic criterion for three years (2016-2018). The research hypotheses were verified with a static, fixed effects (FE) model that also passed the robustness checks. The results showed that the size and tangibility of assets have a positive and significant influence on debt, while profitability has a negative and significant influence on financial leverage. On the contrary, the growth showed a statistically insignificant influence on debt.