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Endeudamiento: ¿una estrategia empresarial para establecer barreras a la entrada en Colombia durante 1995-2003?

Author

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  • Luis Fernando Gamboa

Abstract

Este artículo es una extensión del trabajo de Martin (2003) que intenta estimar si las empresas emplean, estratégicamente, la deuda para limitar la entrada de potenciales rivales. Usando el Método Generalizado de Momentos (GMM), se evalúa el efecto que tienen los activos específicos, la cuota de mercado, el tamano (como proxies de las rentas del mercado), y las barreras a la entrada sobre los niveles de endeudamiento. Se emplean datos a nivel de empresa para Colombia, entre 1995 y 2003. Se concluye que las empresas utilizan los activos específicos para limitar la entrada al mercado y que el endeudamiento decrece a medida que las firmas aumentan su cuota en el mercado

Suggested Citation

  • Luis Fernando Gamboa, 2008. "Endeudamiento: ¿una estrategia empresarial para establecer barreras a la entrada en Colombia durante 1995-2003?," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, July.
    • Handle: RePEc:col:000093:004844
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    File URL: http://www.fce.unal.edu.co/media/files/documentos/Cuadernos/48/v27n48_gamboa_2008.pdf
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    More about this item

    Keywords

    barreras a la entrada; deuda; GMM;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

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