Capital structure of Brazil, Russia, India and China by economic crisis

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dc.contributor.authorDos Santos Silva E.
dc.contributor.authorDos Santos J.F.
dc.contributor.authorPerobelli F.F.C.
dc.contributor.authorNakamura W.T.
dc.date.accessioned2024-03-13T00:54:13Z
dc.date.available2024-03-13T00:54:13Z
dc.date.issued2016
dc.description.abstract© 2016 Mackenzie Presbyterian University. All rights reserved.Purpose: Verify the effects of the subprime mortgage crisis on firms with different debt levels. Originality/gap/relevance/implications: The study contributes to the literature by examining the financial capital structure of emerging market companies in a context of crisis, in addition to using a robust econometric tool - the quantile regression. Key methodological aspects: In this work, the quantile regression was used as an analysis tool, and this technique allowed to observe the impacts of the crisis not only in the average level of indebtedness of companies, but also in its extreme values. Therefore, this work is characterized as descriptive, and the analyzed relations are quantitative. Firms were analyzed in Brazil, Russia, India and China. Summary of key results: The results indicate financing strategies, according to the theories of Pecking Order and Trade-off as regards to the level of debt. Key considerations/conclusions: The survey concluded that firms have different financing strategies even in the same country. Thus, the financial performance of firms would be influenced by economic conditions in the country, as well as the existing debt level in each company.
dc.description.firstpage105
dc.description.issuenumber3
dc.description.lastpage131
dc.description.volume17
dc.identifier.doi10.1590/1678-69712016/administracao.v17n3p105-131
dc.identifier.issn1678-6971
dc.identifier.urihttps://dspace.mackenzie.br/handle/10899/36029
dc.relation.ispartofRevista de Administracao Mackenzie
dc.rightsAcesso Aberto
dc.subject.otherlanguageCapital structure
dc.subject.otherlanguageEconomic crisis
dc.subject.otherlanguageEmerging countries
dc.subject.otherlanguagePecking order
dc.subject.otherlanguageTrade-off
dc.titleCapital structure of Brazil, Russia, India and China by economic crisis
dc.typeArtigo
local.scopus.citations4
local.scopus.eid2-s2.0-85099322129
local.scopus.updated2024-05-01
local.scopus.urlhttps://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85099322129&origin=inward
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