Liquidity Risk and Capital Structure of Companies in Latin America
Entity
UAM. Departamento de Financiación e Investigación ComercialPublisher
Fundación Universitaria CEIPADate
2021-12-15Citation
10.16967/23898186.713
Revista Perspectiva Empresarial 8.2 (2021): 22-37
ISSN
2389-8186 (print); 2389-8194 (online)DOI
10.16967/23898186.713Editor's Version
https://doi.org/10.16967/23898186.713Subjects
Liquidity risk; Capital structure; Emerging markets; Free-float; Latin America; Equity; EconomíaRights
© Revista Perspectiva Empresarial
Esta obra está bajo una licencia de Creative Commons Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional.
Abstract
To explore the relationship between liquidity risk and the capital structure of Latin American companies. Methodology. With a sample of 135 companies (Brazil, Chile and Mexico), panel data were used to analyze various models that considered, among other variables, six liquidity risk indices, two of which included a new factor: the free-float. The study period covers from 2010 to 2019. Results. The level of indebtedness and capital risk in Latin America companies present a mixed relationship (direct and inverse). Conclusions. Latin American companies have their own characteristics for decision-making about capital structure
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Google Scholar:Vasquez Tejos, Francisco Javier
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Lamothe Fernández, Prosper
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Pape Larre, Hernan
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