Theory and practice of corporate finance: Evidence and distinctive features in Latin America

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Theory and practice of corporate finance: Evidence and distinctive features in Latin America

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dc.contributor.author Preve, Lorenzo
dc.contributor.author Sarria Allende, Virginia
dc.contributor.author Maquieira, Carlos
dc.date.accessioned 2016-11-11T12:37:11Z
dc.date.available 2016-11-11T12:37:11Z
dc.date.issued 2011
dc.identifier.citation Maquieira, C. P., Preve, L. A., & Sarria-Allende, V. (2012). Theory and practice of corporate finance: Evidence and distinctive features in Latin America. Emerging markets review, 13(2), 118-148. en_US
dc.identifier.uri http://hdl.handle.net/123456789/278
dc.description.abstract We survey 290 LATAM firms on capital budgeting, cost of capital and capital structure issues. We analyze the results and compare them to those of other studies. We interpret differences according to special features characterizing both emerging markets and SME. We observe that LATAM firms make use of standard capital budgeting techniques, but give special weight to liquidity and capital rationing considerations. They rely less on cost of capital formal estimations; rather, they use investors' requests as their primordial input. Finally, surveyed firms are less leveraged, and inclined toward stressing the role of internal financing and minimizing payment commitments. en_US
dc.language.iso en en_US
dc.publisher Emerging Markets Review en_US
dc.subject Corporate finance en_US
dc.subject Emerging markets en_US
dc.subject Capital budgeting en_US
dc.subject Cost of capital en_US
dc.subject Capital structure en_US
dc.subject Survey en_US
dc.title Theory and practice of corporate finance: Evidence and distinctive features in Latin America en_US
dc.type Article en_US


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