Inappropriate Corporate Strategies: Latin American Companies That Increase Their Value by Short-Term Liabilities

Jorge Feregrino, Juan Felipe Espinosa-Cristia, Nelson Lay, Luis Leyton

Producción científica: Contribución a una revistaArtículorevisión exhaustiva

1 Cita (Scopus)

Resumen

This study seeks to understand the financing strategy used by companies listed on the Mexican Stock Exchange (BVM), the São Paulo Stock Exchange (VVSP), and the Santiago Stock Exchange (BCS). To this end, the data observed in the Economática database for a sample of 29 companies were considered. Then, through a long panel data model, the study concludes that in the organizations reviewed, there is a degree of association between the variables “short-term liabilities” and “share price”, as the former increases by 1%, and the value of the shares increases by 0.09% in the subsequent period. This confirms a procyclical financial leverage.

Idioma originalInglés
Número de artículo100
PublicaciónInternational Journal of Financial Studies
Volumen10
N.º4
DOI
EstadoPublicada - dic. 2022

Áreas temáticas de ASJC Scopus

  • Finanzas

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