Internacionalização das Empresas e a Estrutura de Capital: Evidências no Mercado Brasileiro: Estrutura de Capital; Internacionalização; Endividamento; Desempenho Corporativo.

• Autor(a) principal: Panosso, Oderson
• Data de Publicação: 2023
• Outros Autores: Manoel Rodrigues Junior, Moacir
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: ConTexto
• Texto Completo: https://seer.ufrgs.br/index.php/ConTexto/article/view/134878
• topic: Estrutura de Capital; Internacionalização; Endividamento; Desempenho Corporativo

This research analyzed the influence of the level of internationalization as a determinant of the capital structure of publicly traded companies listed on B3. The study used accounting data extracted from the financial statements of publicly traded companies for the period from 2014 to 2018. The results indicate a positive significance of the levels of internationalization in relation to long-term debt, this may justify the greater access to foreign resources that contribute to the development of the business, as it has a relationship with the foreign market. However, regarding short-term debt, the relationship was significant, but negatively related to levels of internationalization. This demonstrates that the higher the level of internationalization, the lower the indebtedness of these companies. Finally, there was no significance for total indebtedness and levels of internationalization. In relation to the other variables, the significance with the capital structure, profitability, size, growth and risk and no relationship with the composition of assets was highlighted. It is concluded that the existing relationship between internationalization and debt structure has scope for discussion in order to understand the company's performance.