Capital structure management differences in Latin American and US firms after 2008 crisis
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Universidad ESAN
2017
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| _version_ | 1876425212111618048 |
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| author | Santiago Valcacer Rodrigues |
| author_facet | Santiago Valcacer Rodrigues |
| contents | Capital structure management differences in Latin American and US firms after 2008 crisis Santiago Valcacer Rodrigues Heber José de Moura David Ferreira Lopes Santos Vinicius Amorim Sobreiro Multidisciplinarias (Ciencias Sociales) off Trade Indebtedness Pecking order Pooled regression Purpose – This paper aims to analyse the capital structure determining factors of Latin American and US corporations after the crisis of 2008, as a means of compar ing theoretical assumptions and empirical results in markets of different ef fi ciency levels. Design/methodology/approach – The study sample comprises 1,091 companies belonging to the six largest economies in Latin America plus the USA, in the years 2009 to 2013. The authors performed a regression with data from a balanced overview, which were obtained by using the criterion of minimum weighted square. Findings – The results demonstrated differences in determining factors of capital structure between companies from Latin America and from the USA. The pecking order theory was mostly observed in Latin American companies and the trade-off theory greater was closely aligned with US fi rms. Originality/value – This research brings new contributions to the issue, once the differences and determinative of the debt pro fi le in companies from different economic contexts are compared. 2017 artículo científico 2077-1886 https://www.redalyc.org/articulo.oa?id=360752107005 https://www.redalyc.org/journal/3607/360752107005/ https://www.redalyc.org/journal/3607/360752107005/html/ https://www.redalyc.org/journal/3607/360752107005/360752107005.epub https://www.redalyc.org/journal/3607/360752107005/movil en http://www.redalyc.org/revista.oa?id=3607 Journal of Economics, Finance and Administrative Science application/pdf Universidad ESAN Journal of Economics, Finance and Administrative Science (Perú) Num.42 Vol.22 |
| format | Artículo científico |
| id | redalyc_360752107005 |
| institution | Redalyc |
| language | en |
| publishDate | 2017 |
| publisher | Universidad ESAN |
| spellingShingle | Capital structure management differences in Latin American and US firms after 2008 crisis Santiago Valcacer Rodrigues Multidisciplinarias (Ciencias Sociales) off Trade Indebtedness Pecking order Pooled regression Capital structure management differences in Latin American and US firms after 2008 crisis Santiago Valcacer Rodrigues Heber José de Moura David Ferreira Lopes Santos Vinicius Amorim Sobreiro Multidisciplinarias (Ciencias Sociales) off Trade Indebtedness Pecking order Pooled regression Purpose – This paper aims to analyse the capital structure determining factors of Latin American and US corporations after the crisis of 2008, as a means of compar ing theoretical assumptions and empirical results in markets of different ef fi ciency levels. Design/methodology/approach – The study sample comprises 1,091 companies belonging to the six largest economies in Latin America plus the USA, in the years 2009 to 2013. The authors performed a regression with data from a balanced overview, which were obtained by using the criterion of minimum weighted square. Findings – The results demonstrated differences in determining factors of capital structure between companies from Latin America and from the USA. The pecking order theory was mostly observed in Latin American companies and the trade-off theory greater was closely aligned with US fi rms. Originality/value – This research brings new contributions to the issue, once the differences and determinative of the debt pro fi le in companies from different economic contexts are compared. 2017 artículo científico 2077-1886 https://www.redalyc.org/articulo.oa?id=360752107005 https://www.redalyc.org/journal/3607/360752107005/ https://www.redalyc.org/journal/3607/360752107005/html/ https://www.redalyc.org/journal/3607/360752107005/360752107005.epub https://www.redalyc.org/journal/3607/360752107005/movil en http://www.redalyc.org/revista.oa?id=3607 Journal of Economics, Finance and Administrative Science application/pdf Universidad ESAN Journal of Economics, Finance and Administrative Science (Perú) Num.42 Vol.22 |
| title | Capital structure management differences in Latin American and US firms after 2008 crisis |
| topic | Multidisciplinarias (Ciencias Sociales) off Trade Indebtedness Pecking order Pooled regression |
| url | https://www.redalyc.org/articulo.oa?id=360752107005 https://www.redalyc.org/journal/3607/360752107005/ https://www.redalyc.org/journal/3607/360752107005/html/ https://www.redalyc.org/journal/3607/360752107005/360752107005.epub https://www.redalyc.org/journal/3607/360752107005/movil |