Determinación de la estructura de capital de las empresas colombianas

Abstract

The analysis that is made in this paper has as a purpose to find if in Colombia the shareholder rationality has into account the hierarchical order of the financing sources, which is the main contribution of the Pecking Order Theory, or if cost balance model versus debt benefits is followed, which is explained for the Tradeoff Static Theory, or if, on the contrary, there is not a shareholder behavior related with this theories.