Long-term debt and performance in crisis times: evidences of firms from Brazil and Latin America

• Autor(a) principal: Borges Junior, Dermeval Martins
• Data de Publicação: 2017
• Outros Autores: Sarvas, Lucas Alves Duarte de, Oliveira, Juliana Rodrigues, Ribeiro, Kárem Cristina de Sousa
• Tipo de documento: Artigo
• Idioma: por; eng
• Título da fonte: Revista Catarinense da Ciência Contábil (Online)
• Texto Completo: https://revista.crcsc.org.br/index.php/CRCSC/article/view/2329
• topic: Capital structure; Long-term debt; Performance.; Estrutura de capital; Endividamento de longo prazo; Desempenho.

This study aimed at examining the effect of long-term debt on the performance of Brazilian and Latin American companies, encompassing the previous economic scenario, during and after the global crisis of 2008. It was considered in this study the accounting data from public companies listed in stock exchanges of Brazil, Chile, Argentina, Colombia, Mexico and Peru within the period of 2007 to 2015. It was elaborated a multiple linear regression model with panel data based on the literature of the subject. It was used Stata software for data analysis. The results indicated that for companies from Latin America, except Brazilians, there is a negative relationship between long-term debt and performance. In the case of Brazilian companies, for such relationship, the results were inconclusive.