PABLO DE ANDRÉS ALONSO () (Universidad de Valladolid, Departamento de Economía y Administración de Empresas) PABLO SAN MARTÍN MOSQUEIRA (Universidad de Valladolid y Universidad Austral de Chile.) PAOLO SAONA HOFFMANN (Universidad de Valladolid y Universidad Austral de Chile.)
Additional information is available for the following
registered author(s):
The aim of the paper is to analyze the Chilean firms’ financial decisions on market value. The economic environment considers both the absence and existence of growth opportunities for a panel of 180 quoted Chilean companies during the period 1990 - 2001. Our results support the disciplinary view of debt in absence of profitable growth opportunities (overinvestment problem) and their investment inhibit effect in the contrary case (underinvestment and asset substitution problems). Furthermore, we find a positive and non-lineal relationship between ownership structure and the firm value for the case of low growth opportunities firms.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Article provided by Escuela de Administracion. Pontificia Universidad Católica de Chile. in its journal ABANTE.
Volume (Year): 7 (2004) Issue (Month): 1 () Pages: 3-34 Download reference. The following formats are available: HTML,
plain text,
BibTeX,
RIS (EndNote),
ReDIF