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Evidencia del canal de la hoja de balance a través de la inversión de las empresas colombianas (1995-2007)

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  • Santiago Villegas Salazar

Abstract

En esta investigación se realiza una aplicaciónempírica del canal de la hoja de balance enColombia entre 1995 y 2007, utilizando un panelconstruido con información contable de firmas nofinancieras que ejercen su actividad en el territoriocolombiano. El objetivo es mostrar que la estructurade la inversión de las empresas colombianasrespalda la existencia del canal de transmisión dela hoja de balance. Este trabajo hace una contribuciónimportante al comprobar que en Colombialas asimetrías de información en los mercados decrédito y la capacidad de las firmas de señalizarseadecuadamente tienen un efecto profundo sobresus fuentes de financiamiento. Los resultados delas estimaciones apoyan la existencia del canal dela hoja de balance en el país.

Suggested Citation

  • Santiago Villegas Salazar, 2009. "Evidencia del canal de la hoja de balance a través de la inversión de las empresas colombianas (1995-2007)," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República - ESPE, vol. 27(60), pages 168-215, December.
  • Handle: RePEc:col:000107:007818
    DOI: 10.32468/Espe.6005
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    References listed on IDEAS

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    1. Jorge Mario Uribe Gil & Isabel Espinosa Castillo, 2018. "Efectos asimétricos de cambios en la tasa de interés sobre empresas del sector manufacturero colombiano," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 10(1), pages 173-187, February.

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    More about this item

    Keywords

    canal de transmisión de la hoja debalance; fuentes de financiamiento; asimetrías deinformación; Colombia.;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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