Variances analysis of the free cash flow to firm and its impact on the financial structure. Spare parts manufacturers in the italian automotive independent after market in the 2008-2011 period

All along, the financial balance is basic for the continuity of a company and especially when money is the critical resource. The competitive strategy needs a coherent structure and the financial receipts and payments related to the core business drive the financial structure, i.e. the relationships between equity and financial debts. In this direction, management awareness is a true source of competitive advantage and for this reason it's necessary a coherent method of analysis and a comprehensive system of measures.The present essay investigates through the variances analysis the relationship between the free cash flows to firm and the change in the financial structure and it supports the idea of an equilibrated financial structure is first of all a question of core business competitiveness, namely the distinctive quality of its products, customers, suppliers, technologies, core competences, processes, etc., and then a financial evaluation. At the end it's summarized the variances analysis of the free cash flows to firm, and the related impact on the financial structure, with reference to the Spare Parts Manufacturers, 291 limited companies, operating in the Italian Independent Automotive Aftermarket in the 2008-2011 period