Testing the Pecking Order Theory : Comparative Evidence between two differentiated countries
This paper analyses the financial if the behavior of the Canadian and Colombian companies follow the pecking order theory, using a sample of firms of several sectors in those countries. The study is conducted over a net sample of 74 Colombian firms and 104 Can adian firms, for the years 2006 to 2010...
- Autores:
-
Buenaventura Vera, Guillermo
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2012
- Institución:
- Universidad ICESI
- Repositorio:
- Repositorio ICESI
- Idioma:
- eng
- OAI Identifier:
- oai:repository.icesi.edu.co:10906/79802
- Acceso en línea:
- http://asian-transactions.org/Journals/Vol02Issue05/ATBAS/ATBAS-80222057.pdf
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.673.3979&rep=rep1&type=pdf
http://hdl.handle.net/10906/79802
- Palabra clave:
- Economía
Negocios y management
Economics
Business
Estructura de capital
Analisis financiero
Empresas colombianas
- Rights
- openAccess
- License
- https://creativecommons.org/licenses/by-nc-nd/4.0/
| Summary: | This paper analyses the financial if the behavior of the Canadian and Colombian companies follow the pecking order theory, using a sample of firms of several sectors in those countries. The study is conducted over a net sample of 74 Colombian firms and 104 Can adian firms, for the years 2006 to 2010, using the creative Shyam - Sunder and Myers (1999) model. As a general result, we observe that Canadian’s firm finance their deficit using long term debt while Colombian companies do not. Moreover other important resu lts were obtained from subdivide samples by company size. |
|---|