As características dos fornecedores e clientes influenciam a estrutura de capital das empresas?
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Tipo de documento: | Tese |
Idioma: | por |
Título da fonte: | Biblioteca Digital de Teses e Dissertações do Mackenzie |
Texto Completo: | http://dspace.mackenzie.br/handle/10899/23289 |
Resumo: | The research is aimed to investigate the influence of the employees, suppliers, and customers characteristics on the degree of indebtedness of the firms. The capital structure’s theme with the employment of strategic variables is relatively recent and has aroused the interest of several researchers as a result of the importance of the interaction between the firm’s capital structure, their strategic decisions and their non-financial stakeholders relationship. It is employed a fixed-effects static data panel model on sample of 521 publicly traded companies in the United Kingdom, covering the period 2005 to 2014. Empirical tests are performed with eight subsamples stratified by segments of durable goods, non-durable goods, and other business segments to independently analyze the interactions of firms with their employees, suppliers, and customers. Four different proxies are also tested for the measurement of the degree of indebtedness in order to try to capture possible variations in behavior and to test the robustness of the dependent variables. The empirical results, in general, corroborate the existence of correlation, with statistical significance, between the firms’ degree of indebtedness and the strategic variables that measure their relationship with employees, suppliers, and customers at the industrial level. However, considering the limitations of the sample and the constraints of the employed econometric model, some results that are reported diverge from those expected and supported by the pertinent literature. In any case, there are indications that its employees, suppliers, and customers characteristics are relevant explanatory variables of the firms’ capital structure, especially in the durable goods industry for this sample and period analyzed, and more works are needed for its best understanding. Keywords: Capital |
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2017-03-30T14:33:57Z2020-05-28T18:02:59Z2020-05-28T18:02:59Z2016-11-07SILVA, José Milton Almeida da. As características dos fornecedores e clientes influenciam a estrutura de capital das empresas?. 2016. 189 f. Tese (Administração de Empresas) - Universidade Presbiteriana Mackenzie, São Paulo.http://dspace.mackenzie.br/handle/10899/23289The research is aimed to investigate the influence of the employees, suppliers, and customers characteristics on the degree of indebtedness of the firms. The capital structure’s theme with the employment of strategic variables is relatively recent and has aroused the interest of several researchers as a result of the importance of the interaction between the firm’s capital structure, their strategic decisions and their non-financial stakeholders relationship. It is employed a fixed-effects static data panel model on sample of 521 publicly traded companies in the United Kingdom, covering the period 2005 to 2014. Empirical tests are performed with eight subsamples stratified by segments of durable goods, non-durable goods, and other business segments to independently analyze the interactions of firms with their employees, suppliers, and customers. Four different proxies are also tested for the measurement of the degree of indebtedness in order to try to capture possible variations in behavior and to test the robustness of the dependent variables. The empirical results, in general, corroborate the existence of correlation, with statistical significance, between the firms’ degree of indebtedness and the strategic variables that measure their relationship with employees, suppliers, and customers at the industrial level. However, considering the limitations of the sample and the constraints of the employed econometric model, some results that are reported diverge from those expected and supported by the pertinent literature. In any case, there are indications that its employees, suppliers, and customers characteristics are relevant explanatory variables of the firms’ capital structure, especially in the durable goods industry for this sample and period analyzed, and more works are needed for its best understanding. Keywords: CapitalA pesquisa tem como objetivo central investigar a influência das características dos empregados, fornecedores e clientes sobre o grau de endividamento das empresas. O tema estrutura de capital com o emprego de variáveis estratégicas é relativamente recente e tem despertado o interesse de diversos pesquisadores como decorrência da importância da interação entre a estrutura de capital das empresas, suas decisões estratégicas e o seu relacionamento com os stakeholders não financeiros. A metodologia aplicada foi um estudo em painel de dados estático de efeitos fixos em uma amostra de 521 empresas de capital aberto do Reino Unido, abrangendo o período de 2005 a 2014. São realizados testes empíricos com oito subamostras estratificadas pelos segmentos de bens duráveis, bens não duráveis e outros segmentos de negócios, para analisar de forma independente as interações das empresas com os seus empregados, fornecedores e clientes. Também são testadas quatro proxies distintas para a mensuração do grau de endividamento de modo a tentar capturar eventuais variações de comportamento e testar a robustez das variáveis dependentes. Os resultados empíricos, de modo geral, corroboram a existência de correlação, com significância estatística, entre o grau de endividamento das empresas e as variáveis estratégicas que mensuram o seu inter-relacionamento com os empregados, fornecedores e clientes em nível setorial. Porém, considerando as limitações da amostra e as restrições do modelo econométrico aplicado, são relatados alguns resultados divergentes aos esperados e suportados pela literatura pertinente ao tema. De qualquer forma, são encontrados indícios de que as características dos seus empregados, fornecedores e clientes são variáveis explicativas relevantes da estrutura de capital das empresas, notadamente no segmento de bens duráveis para esta amostra e período analisado, e novos trabalhos são necessários para sua melhor compreensão.Fundo Mackenzie de Pesquisaapplication/pdfporUniversidade Presbiteriana MackenzieAdministração de EmpresasUPMBrasilCentro de Ciências Sociais e Aplicadas (CCSA)http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessestrutura de capitalvariáveis estratégicasstakeholders não financeirosgrau de endividamentoCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESASAs características dos fornecedores e clientes influenciam a estrutura de capital das empresas?info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisNakamura, Wilson Toshirohttp://lattes.cnpq.br/1327686935533816Jucá, Michele NascimentoSerra, Ricardo GoulartForte, DenisMartelanc, Royhttp://lattes.cnpq.br/5352679109500589Silva, José Milton Almeida dahttp://tede.mackenzie.br/jspui/retrieve/13786/Jos%c3%a9%20Milton%20Almeida%20da%20Silva.pdf.jpghttp://tede.mackenzie.br/jspui/bitstream/tede/3143/5/Jos%C3%A9%20Milton%20Almeida%20da%20Silva.pdfcapital structurestrategic variablesnon-financial stakeholdersindebtednessreponame:Biblioteca Digital de Teses e Dissertações do Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIE10899/232892020-05-28 15:02:59.771Biblioteca Digital de Teses e Dissertaçõeshttp://tede.mackenzie.br/jspui/PRI |
dc.title.por.fl_str_mv |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
title |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
spellingShingle |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? Silva, José Milton Almeida da estrutura de capital variáveis estratégicas stakeholders não financeiros grau de endividamento CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS |
title_short |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
title_full |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
title_fullStr |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
title_full_unstemmed |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
title_sort |
As características dos fornecedores e clientes influenciam a estrutura de capital das empresas? |
author |
Silva, José Milton Almeida da |
author_facet |
Silva, José Milton Almeida da |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Nakamura, Wilson Toshiro |
dc.contributor.advisor1Lattes.fl_str_mv |
http://lattes.cnpq.br/1327686935533816 |
dc.contributor.referee1.fl_str_mv |
Jucá, Michele Nascimento |
dc.contributor.referee2.fl_str_mv |
Serra, Ricardo Goulart |
dc.contributor.referee3.fl_str_mv |
Forte, Denis |
dc.contributor.referee4.fl_str_mv |
Martelanc, Roy |
dc.contributor.authorLattes.fl_str_mv |
http://lattes.cnpq.br/5352679109500589 |
dc.contributor.author.fl_str_mv |
Silva, José Milton Almeida da |
contributor_str_mv |
Nakamura, Wilson Toshiro Jucá, Michele Nascimento Serra, Ricardo Goulart Forte, Denis Martelanc, Roy |
dc.subject.por.fl_str_mv |
estrutura de capital variáveis estratégicas stakeholders não financeiros grau de endividamento |
topic |
estrutura de capital variáveis estratégicas stakeholders não financeiros grau de endividamento CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS |
description |
The research is aimed to investigate the influence of the employees, suppliers, and customers characteristics on the degree of indebtedness of the firms. The capital structure’s theme with the employment of strategic variables is relatively recent and has aroused the interest of several researchers as a result of the importance of the interaction between the firm’s capital structure, their strategic decisions and their non-financial stakeholders relationship. It is employed a fixed-effects static data panel model on sample of 521 publicly traded companies in the United Kingdom, covering the period 2005 to 2014. Empirical tests are performed with eight subsamples stratified by segments of durable goods, non-durable goods, and other business segments to independently analyze the interactions of firms with their employees, suppliers, and customers. Four different proxies are also tested for the measurement of the degree of indebtedness in order to try to capture possible variations in behavior and to test the robustness of the dependent variables. The empirical results, in general, corroborate the existence of correlation, with statistical significance, between the firms’ degree of indebtedness and the strategic variables that measure their relationship with employees, suppliers, and customers at the industrial level. However, considering the limitations of the sample and the constraints of the employed econometric model, some results that are reported diverge from those expected and supported by the pertinent literature. In any case, there are indications that its employees, suppliers, and customers characteristics are relevant explanatory variables of the firms’ capital structure, especially in the durable goods industry for this sample and period analyzed, and more works are needed for its best understanding. Keywords: Capital |
publishDate |
2016 |
dc.date.issued.fl_str_mv |
2016-11-07 |
dc.date.accessioned.fl_str_mv |
2017-03-30T14:33:57Z 2020-05-28T18:02:59Z |
dc.date.available.fl_str_mv |
2020-05-28T18:02:59Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/doctoralThesis |
format |
doctoralThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
SILVA, José Milton Almeida da. As características dos fornecedores e clientes influenciam a estrutura de capital das empresas?. 2016. 189 f. Tese (Administração de Empresas) - Universidade Presbiteriana Mackenzie, São Paulo. |
dc.identifier.uri.fl_str_mv |
http://dspace.mackenzie.br/handle/10899/23289 |
identifier_str_mv |
SILVA, José Milton Almeida da. As características dos fornecedores e clientes influenciam a estrutura de capital das empresas?. 2016. 189 f. Tese (Administração de Empresas) - Universidade Presbiteriana Mackenzie, São Paulo. |
url |
http://dspace.mackenzie.br/handle/10899/23289 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.rights.driver.fl_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Presbiteriana Mackenzie |
dc.publisher.program.fl_str_mv |
Administração de Empresas |
dc.publisher.initials.fl_str_mv |
UPM |
dc.publisher.country.fl_str_mv |
Brasil |
dc.publisher.department.fl_str_mv |
Centro de Ciências Sociais e Aplicadas (CCSA) |
publisher.none.fl_str_mv |
Universidade Presbiteriana Mackenzie |
dc.source.none.fl_str_mv |
reponame:Biblioteca Digital de Teses e Dissertações do Mackenzie instname:Universidade Presbiteriana Mackenzie (MACKENZIE) instacron:MACKENZIE |
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Universidade Presbiteriana Mackenzie (MACKENZIE) |
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MACKENZIE |
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MACKENZIE |
reponame_str |
Biblioteca Digital de Teses e Dissertações do Mackenzie |
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Biblioteca Digital de Teses e Dissertações do Mackenzie |
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