BUSINESS FINANCING IN COLOMBIA: THE DEBT AND EQUITY MIX

被引：0

作者：

Benavides, Julian ^{[1
]}

Berggrun, Luis ^{[1
]}

机构：

[1] Univ Icesi, Dept Contabilidad & Finanzas, Cali, Colombia

来源：

ACADEMIA-REVISTA LATINOAMERICANA DE ADMINISTRACION | 2012年 / 49期

关键词：

Capital structure; financing; investment; cash flow; CAPITAL STRUCTURE; INVESTMENT; DECISIONS;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article studies the financing decisions of a set of Colombian companies between 1995 and 2009 in response to their investment requirements and their operational cash flow. We structured a SUR (Seemingly Unrelated Regressions) equation system based on the cash flow of these companies. Our results suggest that the shareholders' new equity contribution is virtually non-existent; instead, Colombian companies build up cash and use it as their primary source of financing for fixed assets and working capital.

引用

页码：17 / 29

页数：13

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