Tax shields in Colombia and their effect on leverage and investments

The is article studies the determin ing factors of leverage and investment for Colombian companies between 1995 and 2009. Regarding leverage we test ed the predictions of the t rade - o ff and p ecking o rder t heories, particularly the impact of tax incentives and interest rates. We f ou nd that le...

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Autores:
Benavides Franco, Julián
Tipo de recurso:
Article of investigation
Fecha de publicación:
2014
Institución:
Universidad ICESI
Repositorio:
Repositorio ICESI
Idioma:
eng
OAI Identifier:
oai:repository.icesi.edu.co:10906/79784
Acceso en línea:
http://www.academia.edu/8208764/Tax_Shields_in_Colombia_and_their_Effect_on_Leverage_and_Investments
http://hdl.handle.net/10906/79784
Palabra clave:
Economía
Capital
Financiación
Inversión
Ahorro
Negocios y management
Economics
Business
Rights
openAccess
License
https://creativecommons.org/licenses/by-nc-nd/4.0/
id ICESI2_56df399225478c5843369afb897dbb47
oai_identifier_str oai:repository.icesi.edu.co:10906/79784
network_acronym_str ICESI2
network_name_str Repositorio ICESI
repository_id_str
spelling Benavides Franco, JuliánBradford de Lat: 53 45 00 N degrees minutes Lat: 53.7500 decimal degrees Long: 001 50 00 W degrees minutes Long: -1.8333 decimal degrees2016-08-16T13:06:44Z2016-08-16T13:06:44Z2014-08-011012-8255http://www.academia.edu/8208764/Tax_Shields_in_Colombia_and_their_Effect_on_Leverage_and_Investmentshttp://hdl.handle.net/10906/79784instname: Universidad Icesireponame: Biblioteca Digitalrepourl: https://repository.icesi.edu.co/The is article studies the determin ing factors of leverage and investment for Colombian companies between 1995 and 2009. Regarding leverage we test ed the predictions of the t rade - o ff and p ecking o rder t heories, particularly the impact of tax incentives and interest rates. We f ou nd that leverage decreased after enacting the tax incentive of 2003 and tha t interest rate s increase leverage. We d id not find any strong evidence of greater investment as a result of tax incentives.28 páginasDigitalapplication/pdfengEmeraldFacultad de Ciencias Administrativas y EconómicasContaduría Pública y Finanzas InternacionalesDepartamento Contable y FinancieroBradfordAcademia Revista Latinoamericana De Administración, Vol. 27 - 2014EL AUTOR, expresa que la obra objeto de la presente autorización es original y la elaboró sin quebrantar ni suplantar los derechos de autor de terceros, y de tal forma, la obra es de su exclusiva autoría y tiene la titularidad sobre éste. PARÁGRAFO: en caso de queja o acción por parte de un tercero referente a los derechos de autor sobre el artículo, folleto o libro en cuestión, EL AUTOR, asumirá la responsabilidad total, y saldrá en defensa de los derechos aquí autorizados; para todos los efectos, la Universidad Icesi actúa como un tercero de buena fe. Esta autorización, permite a la Universidad Icesi, de forma indefinida, para que en los términos establecidos en la Ley 23 de 1982, la Ley 44 de 1993, leyes y jurisprudencia vigente al respecto, haga publicación de este con fines educativos. Toda persona que consulte ya sea la biblioteca o en medio electrónico podrá copiar apartes del texto citando siempre la fuentes, es decir el título del trabajo y el autor.https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAtribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)http://purl.org/coar/access_right/c_abf2EconomíaCapitalFinanciaciónInversiónAhorroNegocios y managementEconomicsBusinessTax shields in Colombia and their effect on leverage and investmentsinfo:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_2df8fbb1Artículoinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85Comunidad Universidad Icesi – Investigadores27128ORIGINALbenavides_tax_shields_.pdfbenavides_tax_shields_.pdfapplication/pdf496783http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/79784/1/benavides_tax_shields_.pdf59ef7a39c416664e4072e5b2f1106ebaMD5110906/79784oai:repository.icesi.edu.co:10906/797842018-11-09 11:27:19.873Biblioteca Digital - Universidad icesicdcriollo@icesi.edu.co
dc.title.eng.fl_str_mv Tax shields in Colombia and their effect on leverage and investments
title Tax shields in Colombia and their effect on leverage and investments
spellingShingle Tax shields in Colombia and their effect on leverage and investments
Economía
Capital
Financiación
Inversión
Ahorro
Negocios y management
Economics
Business
title_short Tax shields in Colombia and their effect on leverage and investments
title_full Tax shields in Colombia and their effect on leverage and investments
title_fullStr Tax shields in Colombia and their effect on leverage and investments
title_full_unstemmed Tax shields in Colombia and their effect on leverage and investments
title_sort Tax shields in Colombia and their effect on leverage and investments
dc.creator.fl_str_mv Benavides Franco, Julián
dc.contributor.author.spa.fl_str_mv Benavides Franco, Julián
dc.subject.spa.fl_str_mv Economía
Capital
Financiación
Inversión
Ahorro
topic Economía
Capital
Financiación
Inversión
Ahorro
Negocios y management
Economics
Business
dc.subject.none.fl_str_mv Negocios y management
dc.subject.eng.fl_str_mv Economics
Business
description The is article studies the determin ing factors of leverage and investment for Colombian companies between 1995 and 2009. Regarding leverage we test ed the predictions of the t rade - o ff and p ecking o rder t heories, particularly the impact of tax incentives and interest rates. We f ou nd that leverage decreased after enacting the tax incentive of 2003 and tha t interest rate s increase leverage. We d id not find any strong evidence of greater investment as a result of tax incentives.
publishDate 2014
dc.date.issued.none.fl_str_mv 2014-08-01
dc.date.accessioned.none.fl_str_mv 2016-08-16T13:06:44Z
dc.date.available.none.fl_str_mv 2016-08-16T13:06:44Z
dc.type.eng.fl_str_mv info:eu-repo/semantics/article
dc.type.coar.none.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.local.spa.fl_str_mv Artículo
dc.type.version.eng.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.coarversion.none.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
format http://purl.org/coar/resource_type/c_2df8fbb1
status_str publishedVersion
dc.identifier.issn.none.fl_str_mv 1012-8255
dc.identifier.other.spa.fl_str_mv http://www.academia.edu/8208764/Tax_Shields_in_Colombia_and_their_Effect_on_Leverage_and_Investments
dc.identifier.uri.eng.fl_str_mv http://hdl.handle.net/10906/79784
dc.identifier.instname.none.fl_str_mv instname: Universidad Icesi
dc.identifier.reponame.none.fl_str_mv reponame: Biblioteca Digital
dc.identifier.repourl.none.fl_str_mv repourl: https://repository.icesi.edu.co/
identifier_str_mv 1012-8255
instname: Universidad Icesi
reponame: Biblioteca Digital
repourl: https://repository.icesi.edu.co/
url http://www.academia.edu/8208764/Tax_Shields_in_Colombia_and_their_Effect_on_Leverage_and_Investments
http://hdl.handle.net/10906/79784
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.ispartof.spa.fl_str_mv Academia Revista Latinoamericana De Administración, Vol. 27 - 2014
dc.rights.uri.none.fl_str_mv https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.accessrights.eng.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.license.none.fl_str_mv Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)
dc.rights.coar.none.fl_str_mv http://purl.org/coar/access_right/c_abf2
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-nd/4.0/
Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.extent.none.fl_str_mv 28 páginas
dc.format.medium.spa.fl_str_mv Digital
dc.format.mimetype.eng.fl_str_mv application/pdf
dc.coverage.spatial.none.fl_str_mv Bradford de Lat: 53 45 00 N degrees minutes Lat: 53.7500 decimal degrees Long: 001 50 00 W degrees minutes Long: -1.8333 decimal degrees
dc.publisher.spa.fl_str_mv Emerald
dc.publisher.faculty.spa.fl_str_mv Facultad de Ciencias Administrativas y Económicas
dc.publisher.program.spa.fl_str_mv Contaduría Pública y Finanzas Internacionales
dc.publisher.department.spa.fl_str_mv Departamento Contable y Financiero
dc.publisher.place.none.fl_str_mv Bradford
institution Universidad ICESI
bitstream.url.fl_str_mv http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/79784/1/benavides_tax_shields_.pdf
bitstream.checksum.fl_str_mv 59ef7a39c416664e4072e5b2f1106eba
bitstream.checksumAlgorithm.fl_str_mv MD5
repository.name.fl_str_mv Biblioteca Digital - Universidad icesi
repository.mail.fl_str_mv cdcriollo@icesi.edu.co
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