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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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    File URL: http://www.banrep.gov.co/sites/default/files/publicaciones/archivos/espe_060-5.pdf
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    Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

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

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    Handle: RePEc:col:000107:007818
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    1. Jesús Botero G. & Andrés Ramírez Hassan & Juan Fernando Palacio, 2007. "El costo de uso del capital y la inversión en Colombia 1990 – 2007," DOCUMENTOS DE TRABAJO CIEF 011114, UNIVERSIDAD EAFIT.
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    21. Carlos A. Huertas & Munir Jalil & Sergio Olarte & José Vicente Romero, . "Algunas consideraciones sobre el canal del crédito y la transmisión de tasas de interés en Colombia," Borradores de Economia 351, Banco de la Republica de Colombia.
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    25. Camila Aguilar, 2003. "El Impacto De Eventos Exógenos Y Sectoriales Sobre El Desempeño De Las Empresas: Un Análisis Para Colombia,1995-2001," DOCUMENTOS CEDE 002508, UNIVERSIDAD DE LOS ANDES-CEDE.
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