Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.

Este estudio tiene como objetivo investigar el papel moderador de la rentabilidad en la relación entre la estructura del capital y el valor de la empresa en Jordania como ejemplo de una economía emergente. Con este propósito en mente, se formularon dos modelos funcionales para entender la relación d...

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Autores:: Almahadin, Hamed Ahmad
Oroud, Yazan Salameh

Tipo de recurso:: Article of investigation

Fecha de publicación:: 2019

Institución:: Universidad Católica de Colombia

Repositorio:: RIUCaC - Repositorio U. Católica

Idioma:: eng

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dc.title.spa.fl_str_mv	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
dc.title.translated.eng.fl_str_mv	Capital structure-firm value nexus : the moderating role of profitability.
title	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
spellingShingle	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad. Jordan Capital structure Firm value Moderating effect Profitability Panel analysis Análisis de panel Efecto moderador Estructura del capital Jordania Rentabilidad Valor de la empresa Análise de painel Efeito moderador Estrutura do capital Jordânia Rentabilidade Valor da empresa
title_short	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
title_full	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
title_fullStr	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
title_full_unstemmed	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
title_sort	Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.
dc.creator.fl_str_mv	Almahadin, Hamed Ahmad Oroud, Yazan Salameh
dc.contributor.author.spa.fl_str_mv	Almahadin, Hamed Ahmad Oroud, Yazan Salameh
dc.subject.eng.fl_str_mv	Jordan Capital structure Firm value Moderating effect Profitability Panel analysis
topic	Jordan Capital structure Firm value Moderating effect Profitability Panel analysis Análisis de panel Efecto moderador Estructura del capital Jordania Rentabilidad Valor de la empresa Análise de painel Efeito moderador Estrutura do capital Jordânia Rentabilidade Valor da empresa
dc.subject.spa.fl_str_mv	Análisis de panel Efecto moderador Estructura del capital Jordania Rentabilidad Valor de la empresa Análise de painel Efeito moderador Estrutura do capital Jordânia Rentabilidade Valor da empresa
description	Este estudio tiene como objetivo investigar el papel moderador de la rentabilidad en la relación entre la estructura del capital y el valor de la empresa en Jordania como ejemplo de una economía emergente. Con este propósito en mente, se formularon dos modelos funcionales para entender la relación directa y el impacto de la interacción entre la estructura del capital y el valor de la empresa. Los sólidos resultados empíricos del análisis de datos de panel proporcionan una fuerte evidencia de una relación adversa entre la estructura del capital y el valor de la empresa. Los resultados confirman que el impacto de la estructura de capital parece ser de naturaleza complicada y difícil de examinar sin controlar la interacción de la rentabilidad como uno de los principales determinantes. Por lo tanto, estudiar el efecto de interacción no solo proporciona una amplia evidencia, sino también contribuye a un mejor entendimiento del vínculo entre el valor de la empresa y la estructura de capital. Los resultados empíricos del estudio pueden ofrecer importantes ideas e implicaciones políticas para los responsables de la toma de decisiones.
publishDate	2019
dc.date.accessioned.none.fl_str_mv	2019-07-01 00:00:00 2023-01-23T16:15:42Z
dc.date.available.none.fl_str_mv	2019-07-01 00:00:00 2023-01-23T16:15:42Z
dc.date.issued.none.fl_str_mv	2019-07-01
dc.type.spa.fl_str_mv	Artículo de revista
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dc.identifier.doi.none.fl_str_mv	10.14718/revfinanzpolitecon.2019.11.2.9
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language	eng
dc.relation.bitstream.none.fl_str_mv	https://revfinypolecon.ucatolica.edu.co/article/download/2904/3077 https://revfinypolecon.ucatolica.edu.co/article/download/2904/3110 https://revfinypolecon.ucatolica.edu.co/article/download/2904/3488
dc.relation.citationedition.spa.fl_str_mv	Núm. 2 , Año 2019
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dc.relation.ispartofjournal.spa.fl_str_mv	Revista Finanzas y Política Económica
dc.relation.references.eng.fl_str_mv	Ahmad, N. & Abdul-Rahim, F. (2013). Theoretical investigation on determinants of government-linked companies capital structure. Journal of Accounting, Finance and Economics, 3(2), 72-85. Ahmed, N., Ahmed, Z. & Ahmed, I. (2010). Determinants of capital structure: A case of life insurance sector of Pakistan. European Journal of Economics, Finance and Administrative Sciences, 24(24), 7-12. https://doi.org/10.22495/rcgv6i4c1art13 Amran, N.A. & Che Ahmad, A. (2011). Board mechanisms and Malaysian family companies' performance. Asian Journal of Accounting and Governance, 2, 15-26. https://doi.org/10.17576/ajag-2011-2-6538 Baddeley, M.C. & Barrowclough, D.V. (2009). Running Regressions: A Practical Guide to Quantitative Research in Economics, Finance and Development Studies. Cambridge: Cambridge University Press. https://doi.org/10.1017/CBO9780511814839 Baltagi, B. (2008). Econometric analysis of panel data. John Wiley & Sons. Baum, C.F. (2001). Residual diagnostics for cross-section time series regression models. The Stata Journal, 1 (1), 101-104. https://doi.org/10.1177/1536867X0100100108 Brealey, R., Leland, H.E. & Pyle, D.H. (1977). Informational asymmetries, financial structure, and financial intermediation. The Journal of Finance, 32 (2), 371-387. https://doi.org/10.1111/j.1540-6261.1977.tb03277.x https://doi.org/10.2307/2326770 Cohen, S. & Wills, T.A. (1985). Stress, social support, and the buffering hypothesis. Psychological Bulletin, 98(2), 10. https://doi.org/10.1037/0033-2909.98.2310 Denscombe, M. (2008). Communities of practice: A research paradigm for the mixed methods approach. Journal of Mixed Methods Research, 2(3), 270-283. https://doi.org/10.1177/1558689808316807 Donker, H., Poff, D. & Zahir, S. (2008). Corporate values, codes of ethics, and firm performance: A look at the Canadian context. Journal of Business Ethics, 82 (3), 527-537. https://doi.org/10.1007/s10551-007-9579-x Driscoll, J.C. & Kraay, A.C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80(4), 549-560. https://doi.org/10.1162/003465398557825 Fama, E.F. & French, K.R. (1998). Taxes, financing decisions, and firm value. The Journal ofFinance, 53(3), 819-843. https://doi.org/10.1111/0022-1082.00036 Ghosh, A. and Jain, PC. (2000). Financial leverage changes associated with corporate mergers. Journal of Corporate Finance, 6(4), 377-402. https://doi.org/10.1016/S0929-1199(00)00007-9 Groth, J.C. & Anderson, R.C. (1997). Capital structure: perspectives for managers. Management Decision, 35(7), 552-561. https://doi.org/10.1108/00251749710170529 Hamid, M.A., Abdullah, A. & Kamaruzzaman, N.A. (2015). Capital structure and profitability in family and non-family firms: Malaysian evidence. Procedia Economics and Finance, 31, 44-55. https://doi.org/10.1016/S2212-5671(15)01130-2 Hatfield, G.B., Cheng, L.T & Davidson, W.N. (1994). The determination of optimal capital structure: The effect of firm and industry debt ratios on market value. Journal of Financial and Strategic Decisions, 7 (3), 1-14. Hsiao, C. (2003). Analysis of panel data (Vol. 34). Econometric Society Monographs. https://doi.org/10.1017/CBO9780511754203 Jensen, M.C. & Meckling, W.H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3 (4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X Kinsman, M. & Newman, J. (1999). Debt level and firm performance: an empirical evaluation. Paper presented at the 28th Annual Meeting of the Western Decision Science Institute. Puerto Vallarta, Mexico. Kochhar, R. (1997). Strategic assets, capital structure, and firm performance. Journal of Financial and Strategic Decisions, 10(3), 23-36. http://www.financialdecisionsonline.org/archive/pdffiles/v10n3/kochhar.pdf Kumar, S., Colombage, S. & Rao, P (2017). Research on capital structure determinants: a review and future directions. International Journal of Managerial Finance, 13(2), 106-132. https://doi.org/10.1108/IJMF-09-2014-0135 Kyereboah-Coleman, A. (2007). The impact of capital structure on the performance of microfinance institutions. The Journal of Risk Finance, 8(1), 6-71. https://doi.org/10.1108/15265940710721082 Majumdar, S.K. & Chhibber, P (1999). Capital structure and performance: Evidence from a transition economy on an aspect of corporate governance. Public Choice, 98(3-4), 287-305. https://doi.org/10.1023/A:1018355127454 Miller, M.H. (1977). Debt and taxes. The Journal of Finance, 32 (2), 261-275. https://doi.org/10.2307/2326758 https://doi.org/10.1111/j.1540-6261.1977.tb03267.x Modigliani, F. & Miller, M.H. (1958). The cost of capital, corporation finance and the theory of investment. The American Economic Review, 48(3), 261-297. https://gvpesquisa.fgv.br/sites/gvpesquisa.fgv.br/files/arquivos/terra_-_the_cost_of_capital_corporation_finance.pdf Myers, S.C. & Majluf, N.S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221. https://doi.org/10.1016/0304-405X(84)90023-0 Nadaraja, IP, Zulkafli, A.H. & Masron, TA. (2011). Family ownership, firm's financial characteristics and capital structure: evidence from public listed companies in Malaysia. Economia Seria Management, 14(1), 141-155. https://ideas.repec.org/a/rom/econmn/v14y2011i1p141-155.html Pandey, I.M. (2004). Capital structure, profitability and market structure: Evidence from Malaysia. Asia Pacific Journal of Economics and Business, 8(2), 78. Ramlall, I. (2009). Determinant of capital structure among non-quoted Mauritian firms under specificity of leverage: Looking for a modified pecking order theory. International Research Journal of Finance and Economics, 31 (31), 83-92. Ross, S.A., (1977). The determination of financial structure: the incentive-signalling approach. The Bell Journal of Economics, 23-40. https://doi.org/10.2307/3003485 Saleem, F., Rafique, B., Mehmood, Q., Irfan, M., et al. (2013). The determination of capital structure of oil and gas firms listed on Karachi stock exchange in Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 4(9), 225-235. https://journal-archieves27.webs.com/225-235.pdf Sander, P (2003). Capital Structure Choice in Estonian Companies: A Survey. Management of Organizations: Systematic Research, 27. Simerly, R.L. & Li, M. (2000). Environmental dynamism, capital structure and performance: a theoretical integration and an empirical test. Strategic Management Journal, 21(1), 31-49. https://doi.org/10.1002/(SICI)1097-0266(200001)21:1<31::AID-SMJ76>3.0.CO;2-T Stulz, R. (1990). Managerial discretion and optimal financing policies. Journal of Financial Economics, 26 (1), 3-27. https://doi.org/10.1016/0304-405X(90)90011-N Ting, I.W.K. & Lean, H.H. (2011). Capital structure of government-linked companies in Malaysia. Asian Academy of Management Journal of Accounting & Finance, 7(2). http://web.usm.my/journal/aamjaf/vol%207-2-2011/7-2-6.pdf Wooldridge, J.M. (2010). Econometric analysis of cross section and panel data. MIT Press. Yat Hung, C., Ping Chuen Albert, C., & Chi Man Eddie, H. (2002). Capital structure and profitability of the property and construction sectors in Hong Kong. Journal of Property Investment & Finance, 20(6), 434-453. https://doi.org/10.1108/14635780210446469 Zhou, Y., Tsang, A.S., Huang, M., & Zhou, N. (2014). Group service recovery strategies effectiveness: The moderating effects of group size and relational distance. Journal of Business Research, 67(11), 2480-2485. https://doi.org/10.1016/j.jbusres.2014.03.008
dc.rights.eng.fl_str_mv	Hamed Ahmad Almahadin, Yazan Salameh Oroud - 2019
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spelling	Almahadin, Hamed Ahmad3ab7bc6d-d818-4f69-9705-e1452754e504300Oroud, Yazan Salamehfe1d1868-f264-49ec-9cb5-0ba1bef5f2da3002019-07-01 00:00:002023-01-23T16:15:42Z2019-07-01 00:00:002023-01-23T16:15:42Z2019-07-01Este estudio tiene como objetivo investigar el papel moderador de la rentabilidad en la relación entre la estructura del capital y el valor de la empresa en Jordania como ejemplo de una economía emergente. Con este propósito en mente, se formularon dos modelos funcionales para entender la relación directa y el impacto de la interacción entre la estructura del capital y el valor de la empresa. Los sólidos resultados empíricos del análisis de datos de panel proporcionan una fuerte evidencia de una relación adversa entre la estructura del capital y el valor de la empresa. Los resultados confirman que el impacto de la estructura de capital parece ser de naturaleza complicada y difícil de examinar sin controlar la interacción de la rentabilidad como uno de los principales determinantes. Por lo tanto, estudiar el efecto de interacción no solo proporciona una amplia evidencia, sino también contribuye a un mejor entendimiento del vínculo entre el valor de la empresa y la estructura de capital. Los resultados empíricos del estudio pueden ofrecer importantes ideas e implicaciones políticas para los responsables de la toma de decisiones.This study aims to investigate the moderating role of profitability in the relationship between capital structure and firm value in Jordan, as an example of an emerging economy. For this purpose, two functional models were formulated to capture the direct relationship as well as the interaction impact of capital structure on firm value. The robust empirical findings of panel data analysis provide strong evidence of an adverse relationship between capital structure and firm value. The findings confirm that the impact of capital structure appears to be complicated in nature and difficult to examine without controlling for the interaction of profitability as one of the major determinants. Therefore, studying the interaction effect provides ample evidence and enhances the understanding of the link between firm value and capital structure. The empirical results of the study may provide important insights and policy implications to decision-makers.application/pdftext/htmltext/xml10.14718/revfinanzpolitecon.2019.11.2.92011-76632248-6046https://hdl.handle.net/10983/29419https://doi.org/10.14718/revfinanzpolitecon.2019.11.2.9engUniversidad Católica de Colombiahttps://revfinypolecon.ucatolica.edu.co/article/download/2904/3077https://revfinypolecon.ucatolica.edu.co/article/download/2904/3110https://revfinypolecon.ucatolica.edu.co/article/download/2904/3488Núm. 2 , Año 2019386237511Revista Finanzas y Política EconómicaAhmad, N. & Abdul-Rahim, F. (2013). Theoretical investigation on determinants of government-linked companies capital structure. Journal of Accounting, Finance and Economics, 3(2), 72-85.Ahmed, N., Ahmed, Z. & Ahmed, I. (2010). Determinants of capital structure: A case of life insurance sector of Pakistan. European Journal of Economics, Finance and Administrative Sciences, 24(24), 7-12. https://doi.org/10.22495/rcgv6i4c1art13Amran, N.A. & Che Ahmad, A. (2011). Board mechanisms and Malaysian family companies' performance. Asian Journal of Accounting and Governance, 2, 15-26. https://doi.org/10.17576/ajag-2011-2-6538Baddeley, M.C. & Barrowclough, D.V. (2009). Running Regressions: A Practical Guide to Quantitative Research in Economics, Finance and Development Studies. Cambridge: Cambridge University Press. https://doi.org/10.1017/CBO9780511814839Baltagi, B. (2008). Econometric analysis of panel data. John Wiley & Sons.Baum, C.F. (2001). Residual diagnostics for cross-section time series regression models. The Stata Journal, 1 (1), 101-104. https://doi.org/10.1177/1536867X0100100108Brealey, R., Leland, H.E. & Pyle, D.H. (1977). Informational asymmetries, financial structure, and financial intermediation. The Journal of Finance, 32 (2), 371-387. https://doi.org/10.1111/j.1540-6261.1977.tb03277.x https://doi.org/10.2307/2326770Cohen, S. & Wills, T.A. (1985). Stress, social support, and the buffering hypothesis. Psychological Bulletin, 98(2), 10. https://doi.org/10.1037/0033-2909.98.2310Denscombe, M. (2008). Communities of practice: A research paradigm for the mixed methods approach. Journal of Mixed Methods Research, 2(3), 270-283. https://doi.org/10.1177/1558689808316807Donker, H., Poff, D. & Zahir, S. (2008). Corporate values, codes of ethics, and firm performance: A look at the Canadian context. Journal of Business Ethics, 82 (3), 527-537. https://doi.org/10.1007/s10551-007-9579-xDriscoll, J.C. & Kraay, A.C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80(4), 549-560. https://doi.org/10.1162/003465398557825Fama, E.F. & French, K.R. (1998). Taxes, financing decisions, and firm value. The Journal ofFinance, 53(3), 819-843. https://doi.org/10.1111/0022-1082.00036Ghosh, A. and Jain, PC. (2000). Financial leverage changes associated with corporate mergers. Journal of Corporate Finance, 6(4), 377-402. https://doi.org/10.1016/S0929-1199(00)00007-9Groth, J.C. & Anderson, R.C. (1997). Capital structure: perspectives for managers. Management Decision, 35(7), 552-561. https://doi.org/10.1108/00251749710170529Hamid, M.A., Abdullah, A. & Kamaruzzaman, N.A. (2015). Capital structure and profitability in family and non-family firms: Malaysian evidence. Procedia Economics and Finance, 31, 44-55. https://doi.org/10.1016/S2212-5671(15)01130-2Hatfield, G.B., Cheng, L.T & Davidson, W.N. (1994). The determination of optimal capital structure: The effect of firm and industry debt ratios on market value. Journal of Financial and Strategic Decisions, 7 (3), 1-14.Hsiao, C. (2003). Analysis of panel data (Vol. 34). Econometric Society Monographs. https://doi.org/10.1017/CBO9780511754203Jensen, M.C. & Meckling, W.H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3 (4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-XKinsman, M. & Newman, J. (1999). Debt level and firm performance: an empirical evaluation. Paper presented at the 28th Annual Meeting of the Western Decision Science Institute. Puerto Vallarta, Mexico.Kochhar, R. (1997). Strategic assets, capital structure, and firm performance. Journal of Financial and Strategic Decisions, 10(3), 23-36. http://www.financialdecisionsonline.org/archive/pdffiles/v10n3/kochhar.pdfKumar, S., Colombage, S. & Rao, P (2017). Research on capital structure determinants: a review and future directions. International Journal of Managerial Finance, 13(2), 106-132. https://doi.org/10.1108/IJMF-09-2014-0135Kyereboah-Coleman, A. (2007). The impact of capital structure on the performance of microfinance institutions. The Journal of Risk Finance, 8(1), 6-71. https://doi.org/10.1108/15265940710721082Majumdar, S.K. & Chhibber, P (1999). Capital structure and performance: Evidence from a transition economy on an aspect of corporate governance. Public Choice, 98(3-4), 287-305. https://doi.org/10.1023/A:1018355127454Miller, M.H. (1977). Debt and taxes. The Journal of Finance, 32 (2), 261-275. https://doi.org/10.2307/2326758 https://doi.org/10.1111/j.1540-6261.1977.tb03267.xModigliani, F. & Miller, M.H. (1958). The cost of capital, corporation finance and the theory of investment. The American Economic Review, 48(3), 261-297. https://gvpesquisa.fgv.br/sites/gvpesquisa.fgv.br/files/arquivos/terra_-_the_cost_of_capital_corporation_finance.pdfMyers, S.C. & Majluf, N.S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221. https://doi.org/10.1016/0304-405X(84)90023-0Nadaraja, IP, Zulkafli, A.H. & Masron, TA. (2011). Family ownership, firm's financial characteristics and capital structure: evidence from public listed companies in Malaysia. Economia Seria Management, 14(1), 141-155. https://ideas.repec.org/a/rom/econmn/v14y2011i1p141-155.htmlPandey, I.M. (2004). Capital structure, profitability and market structure: Evidence from Malaysia. Asia Pacific Journal of Economics and Business, 8(2), 78.Ramlall, I. (2009). Determinant of capital structure among non-quoted Mauritian firms under specificity of leverage: Looking for a modified pecking order theory. International Research Journal of Finance and Economics, 31 (31), 83-92.Ross, S.A., (1977). The determination of financial structure: the incentive-signalling approach. The Bell Journal of Economics, 23-40. https://doi.org/10.2307/3003485Saleem, F., Rafique, B., Mehmood, Q., Irfan, M., et al. (2013). The determination of capital structure of oil and gas firms listed on Karachi stock exchange in Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 4(9), 225-235. https://journal-archieves27.webs.com/225-235.pdfSander, P (2003). Capital Structure Choice in Estonian Companies: A Survey. Management of Organizations: Systematic Research, 27.Simerly, R.L. & Li, M. (2000). Environmental dynamism, capital structure and performance: a theoretical integration and an empirical test. Strategic Management Journal, 21(1), 31-49. https://doi.org/10.1002/(SICI)1097-0266(200001)21:1<31::AID-SMJ76>3.0.CO;2-TStulz, R. (1990). Managerial discretion and optimal financing policies. Journal of Financial Economics, 26 (1), 3-27. https://doi.org/10.1016/0304-405X(90)90011-NTing, I.W.K. & Lean, H.H. (2011). Capital structure of government-linked companies in Malaysia. Asian Academy of Management Journal of Accounting & Finance, 7(2). http://web.usm.my/journal/aamjaf/vol%207-2-2011/7-2-6.pdfWooldridge, J.M. (2010). Econometric analysis of cross section and panel data. MIT Press.Yat Hung, C., Ping Chuen Albert, C., & Chi Man Eddie, H. (2002). Capital structure and profitability of the property and construction sectors in Hong Kong. Journal of Property Investment & Finance, 20(6), 434-453. https://doi.org/10.1108/14635780210446469Zhou, Y., Tsang, A.S., Huang, M., & Zhou, N. (2014). Group service recovery strategies effectiveness: The moderating effects of group size and relational distance. Journal of Business Research, 67(11), 2480-2485. https://doi.org/10.1016/j.jbusres.2014.03.008Hamed Ahmad Almahadin, Yazan Salameh Oroud - 2019info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2https://creativecommons.org/licenses/by-nc-sa/4.0/https://revfinypolecon.ucatolica.edu.co/article/view/2904JordanCapital structureFirm valueModerating effectProfitabilityPanel analysisAnálisis de panelEfecto moderadorEstructura del capitalJordaniaRentabilidadValor de la empresaAnálise de painelEfeito moderadorEstrutura do capitalJordâniaRentabilidadeValor da empresaRelación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.Capital structure-firm value nexus : the moderating role of profitability.Artículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85Textinfo:eu-repo/semantics/articleJournal articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionPublicationOREORE.xmltext/xml2657https://repository.ucatolica.edu.co/bitstreams/2cded2e1-2390-44a1-94a6-55956ef4a0d0/downloade95e82df82f4427f13f57463fef19bdcMD5110983/29419oai:repository.ucatolica.edu.co:10983/294192023-03-24 15:44:54.379https://creativecommons.org/licenses/by-nc-sa/4.0/Hamed Ahmad Almahadin, Yazan Salameh Oroud - 2019https://repository.ucatolica.edu.coRepositorio Institucional Universidad Católica de Colombia - RIUCaCbdigital@metabiblioteca.com

Relación entre la estructura del capital y el valor de la empresa : el papel moderador de la rentabilidad.

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