Capital structure in Brazil: review of studies during the period of 1988-2003

Detalhes bibliográficos
Autor(a) principal: Matsuo, Alexandre Kazuma
Data de Publicação: 2009
Outros Autores: Eid Júnior, William
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/15559
Resumo: A systematic review was made of studies regarding the capital structure in Brazil during the period of 1988-2003. The recurring themes relate to the static tradeoff and pecking order in various moments of the economy, the fiscal benefits of indebtedness and interest on privately-owned capital, and the inefficacies of the stock market. The Brazilian companies enjoy little leverage as compared to other emerging markets. BNDES is responsible for 5% of the gross formation of fixed capital. The funding of resources occurs at opportune moments, and the financing decision may precede that of investment. Efficacy of the judiciary system and company transparency positively affect access to credit.
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spelling Matsuo, Alexandre KazumaEid Júnior, WilliamEscolas::EAESP2016-02-25T15:12:22Z2016-02-25T15:12:22Z2009-07http://hdl.handle.net/10438/15559A systematic review was made of studies regarding the capital structure in Brazil during the period of 1988-2003. The recurring themes relate to the static tradeoff and pecking order in various moments of the economy, the fiscal benefits of indebtedness and interest on privately-owned capital, and the inefficacies of the stock market. The Brazilian companies enjoy little leverage as compared to other emerging markets. BNDES is responsible for 5% of the gross formation of fixed capital. The funding of resources occurs at opportune moments, and the financing decision may precede that of investment. 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dc.title.eng.fl_str_mv Capital structure in Brazil: review of studies during the period of 1988-2003
title Capital structure in Brazil: review of studies during the period of 1988-2003
spellingShingle Capital structure in Brazil: review of studies during the period of 1988-2003
Matsuo, Alexandre Kazuma
Finanças
Estrutura de capital
title_short Capital structure in Brazil: review of studies during the period of 1988-2003
title_full Capital structure in Brazil: review of studies during the period of 1988-2003
title_fullStr Capital structure in Brazil: review of studies during the period of 1988-2003
title_full_unstemmed Capital structure in Brazil: review of studies during the period of 1988-2003
title_sort Capital structure in Brazil: review of studies during the period of 1988-2003
author Matsuo, Alexandre Kazuma
author_facet Matsuo, Alexandre Kazuma
Eid Júnior, William
author_role author
author2 Eid Júnior, William
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EAESP
dc.contributor.author.fl_str_mv Matsuo, Alexandre Kazuma
Eid Júnior, William
dc.subject.area.por.fl_str_mv Finanças
topic Finanças
Estrutura de capital
dc.subject.bibliodata.por.fl_str_mv Estrutura de capital
description A systematic review was made of studies regarding the capital structure in Brazil during the period of 1988-2003. The recurring themes relate to the static tradeoff and pecking order in various moments of the economy, the fiscal benefits of indebtedness and interest on privately-owned capital, and the inefficacies of the stock market. The Brazilian companies enjoy little leverage as compared to other emerging markets. BNDES is responsible for 5% of the gross formation of fixed capital. The funding of resources occurs at opportune moments, and the financing decision may precede that of investment. Efficacy of the judiciary system and company transparency positively affect access to credit.
publishDate 2009
dc.date.issued.fl_str_mv 2009-07
dc.date.accessioned.fl_str_mv 2016-02-25T15:12:22Z
dc.date.available.fl_str_mv 2016-02-25T15:12:22Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/15559
url http://hdl.handle.net/10438/15559
dc.language.iso.fl_str_mv eng
language eng
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