Capital structure and performance in Latin American companies

dc.creatorGallegos Mardones, Juan Alejandro
dc.creatorRuiz Cuneo, Luis
dc.date2021-06-08T22:21:49Z
dc.date2021-06-08T22:21:49Z
dc.date2020-01
dc.date.accessioned2022-10-18T12:08:06Z
dc.date.available2022-10-18T12:08:06Z
dc.identifierEconomic Research-Ekonomska Istraživanja 2020, Vol. 33, No. 1, pp. 2171–2188
dc.identifier1331-677X
dc.identifierhttp://repositoriodigital.ucsc.cl/handle/25022009/2275
dc.identifier10.1080/1331677X.2019.1697720
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/4441903
dc.descriptionArtículo de publicación ISI
dc.descriptionThe purpose of this study is to explain the financial performance of companies in Latin America through the lens of capital structure and ownership structure. We perform a quantitative analysis of companies in Brazil, Chile, Mexico, and Peru using a panel data method. To avoid endogeneity problems, instrumental variables, generalised method of moments models, and panels with random effects are employed. The data cover the period 2000 to 2015. We find a positive relationship between financial performance, growth, and size of the company. However, there are mixed results for short- and long-term financial leverage, as well as for company liquidity. With respect to the ownership structure of Chilean companies, a positive effect is observed for the first major shareholder with financial performance. In general, our results are in line with those of previous studies. However, the existence of mixed results between companies and countries makes for an interesting and novel conclusion.
dc.languageen
dc.publisherRoutledge
dc.sourcehttps://doi.org/10.1080/1331677X.2019.1697720
dc.subjectFinancial performance
dc.subjectCapital structure
dc.subjectOwnership structure
dc.subjectLatin America
dc.titleCapital structure and performance in Latin American companies
dc.typeArtículos de revistas


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