Estructura de capital y rentabilidad en nuevas empresas de mercados emergentes: Perspectivas desde Trinidad y Tobago

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Priscilla Bahaw


Nuevas Empresas, Estructura De Capital, Teoría Del Orden Jerárquico, Trinidad Y Tobago, Rentabilidad


Las nuevas empresas, esenciales para impulsar el desarrollo económico, se enfrentan a un desafío universal: acceder a financiamiento y decidir sobre una estructura de capital adecuada. En países en desarrollo como Trinidad y Tobago, estudiar el impacto de la estructura de capital en los niveles de rentabilidad de las nuevas empresas es especialmente crítico, dado que la literatura actual se ha centrado principalmente en empresas establecidas. Para llenar este vacío, este estudio examinó la estructura de capital existente de 43 nuevas empresas en Trinidad y Tobago, evaluando los efectos de diferentes fuentes de financiamiento en los márgenes de beneficio neto. Los hallazgos revelaron que los ahorros de los propietarios y las utilidades retenidas tenían un impacto positivo en los márgenes de beneficio neto, mientras que los préstamos a corto plazo, los préstamos a largo plazo y la financiación de inversores informales no tenían un efecto significativo. Además, este estudio amplió las teorías existentes, especialmente la teoría del orden jerárquico, al probarla en el contexto de nuevas empresas en lugar de empresas maduras. Las implicaciones de este estudio son significativas para los responsables financieros encargados de la toma de decisiones para las nuevas empresas. Sugiere la importancia de los ahorros de los propietarios y las utilidades retenidas en la financiación de nuevas empresas. Además, los hallazgos sugieren que las nuevas empresas en Trinidad y Tobago pueden beneficiarse de la búsqueda de opciones de financiamiento que se alineen con la teoría del orden jerárquico. En general, esta investigación enfatiza la necesidad de considerar los desafíos financieros únicos que enfrentan las nuevas empresas al tomar decisiones sobre su estructura de capital.


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