Systematic Risk in the Financial Situation of Petroleum Service Enterprises in the Lagunillas Municipality

Abstract

The purpose of the article is to analyze the impact of systematic risk on the financial situation of petroleum service enterprises in the Lagunillas Municipality during the period 2003-2005. To research the objective, a documentary review was made to obtain the financial status of the ten (10) enterprises considered, as well as data from statistical reports related to producer inflation, interest rates and type of exchange. Processing the data produced results, such as that: there is no significant correlation between solvency ratios and systematic risk variables; on the other hand, there is a positive, strong and significant correlation between indebtedness over total assets and inflation for the producer; very significant positive correlation exists between indebtedness over total assets and interest rates; very significant positive correlation exists between the operative margin and inflation for the producer; there is negative, strong and significant correlation between the operative margin and the type of exchange. The conclusion is that the selected enterprises are partially exposed to systematic risk variables. Their financial situation, despite the correlations observed, is a product of their internal management and not a product of exogenous factors such as those considered.