Foreign and Domestic Firms in Colombia:

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Foreign and Domestic Firms in Colombia:

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Peter Rowland

Abstract

This paper studies foreign and domestic firms in Colombia and, in particular, whether these firms behave differently. The study uses a dataset containing the 2003 balance sheets and income statements for some 7,001 firms. The dataset was obtained from the Superintendencia de Sociedades. The study concludes that foreign and domestic firms differ in a number of aspects. Foreign firms tend to have a larger total asset turnover than domestic firms; they are more leveraged than domestic firms; and they tend to have a lower net-profit margin than domestic firms. However, these results are not conclusive . When the dataset is broken down by sector, the results are much less clear. When analysing external debt, foreign firms do, nevertheless, tend to hold almost four times as much external debt as domestic firms of the same size. Foreign firms also tend to import more.

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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 002740.

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Length: 67
Date of creation: 01 Feb 2006
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Handle: RePEc:col:000094:002740

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Other versions:
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Other versions:
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Other versions:
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Other versions:
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Other versions:
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