Determinants of the Capital Structure in the Colombian Chemical Industry

Authors

DOI:

https://doi.org/10.17230/ecos.2020.51.2

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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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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Published

2021-06-01

Issue

Vol. 24 No. 51 (2020)

Section

Articles

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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