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Estructura financiera y logro empresarial en cooperativas agrarias: una aproximación empírica

  • Lajara-Camilleri, Natalia
  • Mateos-Ronco, Alicia

Este trabajo utiliza la información económico-financiera de una muestra de cooperativas agrarias españolas para identificar las variables que determinan la naturaleza y composición de su estructura financiera. Se define una variable relativa al logro empresarial, a partir de la técnica estadística del análisis de componentes principales que, junto con otros ratios, se introduce en los modelos de regresión. Los resultados no evidencian relación entre estructura financiera y logro empresarial, pero sí corroboran la teoría del Pecking order, apoyando la hipótesis del endeudamiento y la capitalización como fuentes de financiación predominantes. También se verifica la Teoría de la agencia, ya que crecimientos de ventas conllevan un mayor endeudamiento a corto plazo.

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File URL: http://purl.umn.edu/139690
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Article provided by Spanish Association of Agricultural Economists in its journal Economia Agraria y Recursos Naturales.

Volume (Year): 12 (2012)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:ags:earnsa:139690
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