Capital Structure Decisions and the Interaction with Payout and Ownership Decisions: Evidence from Brazil

N/D

Autores

Sanvicente, Antonio Zoratto

Orientador

Co-orientadores

Citações na Scopus

Tipo de documento

Working Paper

Data

2011

Unidades Organizacionais

Resumo

The objective of this paper is to correct the analysis in most of the existing Brazilian literature on determinants of capital structure, which fails to consider the interaction of debt, payout and ownership policy decisions. With the estimation of a three-equation system by three-stage least squares, the paper obtains significant results, and its results contradict most of those obtained in the Brazilian literature. In addition, it confirms unambiguously the existence of an entrenchment effect in the agency relationship involving controlling and minority shareholders.

Palavras-chave

Titulo de periódico

URL da fonte

Título de Livro

URL na Scopus

Idioma

Inglês

Notas

Membros da banca

Área do Conhecimento CNPQ

Ciências Sociais Aplicadas

Citação

Avaliação

Revisão

Suplementado Por

Referenciado Por