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
收藏
页码：17 / 29
页数：13
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