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Entorno competitivo, endeudamiento y especificidad de los activos: evidencia en el caso de las empresas espanolas

Author

Listed:
  • Manuel Sanchez Valadez

    (Universidad Nacional Autonoma de Mexico)

Abstract

En la estrategia competitiva de las empresas interactuan sus decisions financieras y sus decisiones en los mercados reales. Si bien en las ultimas tres decadas se ha desarrollado la literatura teorica y empirica sobre el tema, aun hay topicos escasamente explorados; uno de ellos es la relacion entre la especificidad de los activos utilizados en la produccion, como una caracteristica del entorno competitivo y la deuda de las empresas como instrumento competitivo. Este documento busca responder si las empresas, en adicion a los niveles de especificidad de sus activos, utilizan el endeudamiento como un instrumento mas que les permita enfrentar la competencia en el mercado. Los resultados hallados sugieren que la especificidad de los activos afecta de manera diferente el endeudamiento de las empresas de acuerdo al plazo de este y al entorno competitivo enfrentado.

Suggested Citation

  • Manuel Sanchez Valadez, 2012. "Entorno competitivo, endeudamiento y especificidad de los activos: evidencia en el caso de las empresas espanolas," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 101-129, Enero-Jun.
    • Handle: RePEc:qua:journl:v:9:y:2012:i:1:p:101-129
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    More about this item

    Keywords

    especificidad de activos; endeudamiento; estrategia competitiva.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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