Capital structure in Brazil: review of studies during the period of 1988-2003
Autor(a) principal: | |
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Data de Publicação: | 2009 |
Outros Autores: | |
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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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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article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/15559 |
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http://hdl.handle.net/10438/15559 |
dc.language.iso.fl_str_mv |
eng |
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eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
SSRN |
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SSRN |
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