Determinants of the Capital Structure in the Colombian Chemical Industry

Main Article Content

Judith Vergara Garavito
Universidad EAFIT
https://orcid.org/0000-0002-7466-944X
Cristián Andrés Echeverri Castaño
Financial lider at Aquaterra SAS

Javier Esteban Escobar Ortega
Bancolombia–Panama Group

Keywords

Capital structure, Chemical Industry, Leverage

Abstract

This research aimed to find the determinants of the capital structure of Colombian companies in the chemical sector. For that, annual data was taken from 233 firms in the period ranging from 2009 to 2018, which allowed to build an unbalanced panel with 1980 observations. The results showed that profitability, growth, size, and liquidity are decisive in the decision of capital structure of firms in the chemical sector in Colombia.

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Published
Jun 1, 2021
DOI https://doi.org/10.17230/ecos.2020.51.2

Article Details

How to Cite
Vergara Garavito, J., Echeverri Castaño, C. A., & Escobar Ortega, J. E. (2021). Determinants of the Capital Structure in the Colombian Chemical Industry. Ecos De Economía, 24(51), 29–54. https://doi.org/10.17230/ecos.2020.51.2
Issue
Vol. 24 No. 51 (2020)
Section
Articles
Author Biographies

Judith Vergara Garavito, Universidad EAFIT

Judith Vergara Garavito. Ph.D. Profesora.
Coordinadora Maestría en Administración
Financiera. Departamento de Finanzas.
Escuela de Economía y Finanzas. Universidad
EAFIT

Cristián Andrés Echeverri Castaño, Financial lider at Aquaterra SAS

Economista, Magíster en Administración Financiera. Líder Financiero en Aquaterra SAS.

Javier Esteban Escobar Ortega, Bancolombia–Panama Group

Ingeniero industrial. Magíster en Administración Financiera. Gerente del área de analítica de negocio en  Banistmo empresa del Grupo Bancolombia–Panamá.

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