CAPITAL STRUCTURE AND VALUE CREATION: THE DETERMINANTS OF CAPITAL STRUCTURE IN DIFFERENT STAGES OF COMPANIES’ GROWTH
Various studies in the Capital Structure field seek to analyze the relation between indebtedness and its determinants. However, most of such studies analyze this relation based on samples that contemplate all types of companies. This article attempts an analysis of the relations between indebtedness...
| Autores: | , , , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2013 |
| País: | Brasil |
| Institución: | Universidade Federal do Rio Grande do Sul (UFRGS) |
| Repositorio: | REAd (Porto Alegre. Online) |
| Idioma: | portugués |
| OAI Identifier: | oai:seer.ufrgs.br:article/42503 |
| Acceso en línea: | https://seer.ufrgs.br/index.php/read/article/view/42503 |
| Access Level: | acceso abierto |
| Palabra clave: | Capital structure indebtedness growth opportunities value creation Estructura de capital endeudamiento oportunidades de crecimiento creación de valor Estrutura de capital endividamento oportunidades de crescimento criação de valor |
| Sumario: | Various studies in the Capital Structure field seek to analyze the relation between indebtedness and its determinants. However, most of such studies analyze this relation based on samples that contemplate all types of companies. This article attempts an analysis of the relations between indebtedness (dependent variable) and its determinants (independent variables) taking into consideration different characteristics of the company’s growth. The companies analyzed are divided into two different samples (high and low growth) and the regression analysis is performed for each of them. The results indicate that a company’s growth opportunities significantly affect the relations between indebtedness and its determinants. |
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