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Selecci¢n de proveedores y tipos de fondos: Teor¡a y evidencia emp¡rica con datos de panel

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Abstract

En este trabajo se estudia el comportamiento de las empresas en lo que respecta a sus decisiones sobre la selecci¢n de tipos y proveedores de fondos. Para el efecto se analizan las decisiones de financiaci¢n de una muestra de empresas, utilizando modelos probit para datos de panel. En lo que concierne a las decisiones de endeudamiento, los resultados obtenidos permiten concluir que los factores subyacentes a la teor¡a del pecking order dominan sobre los factores tradicionales de la teor¡a del trade off. De otra parte, en lo que respecta a las decisiones de proveedores de fondos, los resultados confirman, en general, la relevancia del efecto escala de los costes de emisi¢n y la importancia de la asimetr¡a de informaci¢n.

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  • Morgado, Artur & Pindado, Julio, 2001. "Selecci¢n de proveedores y tipos de fondos: Teor¡a y evidencia emp¡rica con datos de panel," Working Papers "New Trends on Business Administration". Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". 2001-13, Interuniversity Research Master and Doctorate Program (with a quality mention of ANECA) on "Business Economics", Universities of Valladolid, Burgos, Salamanca and León (Spain). Until 2008, Interuniversity Doctorate Program (with a quality mention of ANECA) “New trends in Business Administration”, Universities of Valladolid, Burgos, and Salamanca (Spain). Master en Investigación y Programa de Docto.
  • Handle: RePEc:ntd:wpaper:2001-13
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