Artículos de investigación
Indebtedness and Financial Structure of the Footwear Sector in Bogotá
Analysis through Panel Data
This work aims at illustrating the use of a quantitative model for the analysis of financial and accounting statements of micro, small and medium-size enterprises (mypymes, by its acronym in Spanish) and their usefulness as a tool for decision-making. To do this, a group of companies from the manufacturing footwear sector of Bogota was sampled and the influence of the capital structure in the debt level by applying a panel data model was analyzed. The results show that these firms behave according to the premises of the Pecking Order Theory (POT) which is contrary to the principles of static equilibrium theory (SET). Determinants such as profitability, size and growth opportunities have greater significance in the debt level.
Keywords:
capital structure, Pecking Order Theory, Trade-off Theory, debt level, panel dataIssue
Published
2016-12-01
How to Cite
Indebtedness and Financial Structure of the Footwear Sector in Bogotá: Analysis through Panel Data. (2016). Agustiniana Revista académica, 10, 57-74. https://revistas.uniagustiniana.edu.co/index.php/agustiniana/article/view/37