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Copyright Universidad Católica de Colombia, Facultad de Ciencias Económicas y Administrativas Jul-Dec 2015

Abstract

The purpose of this article is to identify the determining factors of the capital structure of MSMEs that competed for the Colombian Innova Prize for innovation in the 2007-2011 period. To do this, we used panel data analysis with dependent long- or short-term debt variables, and six independent variables taken from previous studies. In addition, we applied a survey to compare the results of the econometric model. The results of the study tentatively suggest that the pecking order theory explains how MSMEs nominated for the Innova Prize for innovation are financed.

Details

Title
Determinantes de la estructura de capital de las mipymes del sector real participantes del Premio Innova 2007-2011 *
Author
Ospina, Ana Milena Padilla; Godoy, Jorge Alberto Rivera; Holguín, Javier Humberto Ospina
Pages
359-380
Publication year
2015
Publication date
Jul-Dec 2015
Publisher
Universidad Católica de Colombia, Facultad de Ciencias Económicas y Administrativas
ISSN
22486046
e-ISSN
20117663
Source type
Scholarly Journal
Language of publication
Spanish
ProQuest document ID
1781335466
Copyright
Copyright Universidad Católica de Colombia, Facultad de Ciencias Económicas y Administrativas Jul-Dec 2015