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dc.contributor.authorSánchez Vidal, Javieren_US
dc.date.accessioned2010-06-17en_US
dc.date.accessioned2010-12-16T15:54:47Z-
dc.date.available2010-12-16T15:54:47Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/43389-
dc.language.isospaen_US
dc.publisheren_US
dc.relation.ispartofseriesEconomic analysis working papers 2009,6en_US
dc.subject.ddc330en_US
dc.subject.keywordregresión cuantílicaen_US
dc.subject.keywordestructura de capitalen_US
dc.subject.keywordteoría de la jerarquíaen_US
dc.subject.keywordtradeoffen_US
dc.titleNo linealidad de la relación entre la estructura de capital y sus determinantesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn629461597en_US
dc.description.abstracttransThe aim of this study is to analyze whether the factors influencing debt change their effect depending on the company's debt level. This could be very useful for studying for example high-debt firms' determinants. We work with a panel data of 17,776 companies for the 2001-2006 period and through quantile regressions find that quantile analysis provides a more complete view over the debt determinants than standard OLS regression. Leverage gets influenced by a pecking order behaviour and companies suffer from information asymmetry problems. There is some evidence of bankruptcy costs but not of the tax benefit of debt.en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Economic Analysis Working Papers: EAWP, Economists Association of La Coruña

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