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

  • Santiago Villegas Salazar


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    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.

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    Volume (Year): 27 (2009)
    Issue (Month): 60 (December)
    Pages: 168-215

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    Handle: RePEc:col:000107:007818
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