FINANCIALIZATION OF BRAZILIAN INDUSTRIAL GROUPS

AN ANALYSIS OF THE OPERATIONAL TERRITORY AND STRATEGIES OF THE VOTORANTIM GROUP

Abstract

Financialization has spread globally from the end of the twentieth century, involving companies, economic groups, financial institutions, and banks. In this scenario, the industrial economic groups have sought to optimize capital circulation and ensure enhanced returns by distributing it across various activities, including financial ones. This article analysis the financialization of the Brazilian group Votorantim, which engages in an accumulation process combining productive and non-productive activities in its portfólio. The study provides an analysis of the group's origin, evolution, diversification, and consolidation, employing methodologies such as literature review, primary and secondary data collection, systematization, and analysis. The aim was to contribute elements to the debate on financialization of economic groups, particularly of Brazilian origin. It was observed that the group engages in combined capital accumulation, maintaining it’s industrial base and territorial anchorage while adopting financial and rentier strategies that offer a certain level of flexibility.