Orientadores da estrutura de capital: a influência dos valores culturais nacionais

• Ano de defesa: 2010
• Autor(a) principal: Poker Junior, Johan Hendrik
• Orientador(a): Nakamura, Wilson Toshiro
• Banca de defesa: Teixeira, Maria Luisa Mendes , Formigoni, Henrique , Arima, Carlos Hideo , Rochman, Ricardo Ratner
• Tipo de documento: Tese
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Presbiteriana Mackenzie
• Programa de Pós-Graduação: Administração de Empresas
• Departamento: Administração
• País: BR
• Palavras-chave em Português: estrutura de capital; dados em painel; valores culturais nacionais
• Palavras-chave em Inglês: capital structure; panel data; national cultural values
• Área do conhecimento CNPq: CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
• Link de acesso: http://dspace.mackenzie.br/handle/10899/23262

This work contributed with confirmatory evidence about the influence of national cultural values in the capital structure of firms. The results confirm and extend the findings of Chui et al. (2002). The period of analysis is the range between 1988 and 2003, during this period were analyzed 8986 companies in 30 countries. For these same countries have been consolidated annual indicators of cultural values from the SVS (Schwartz Value Survey). Panel data analysis was used in the Compustat database with the use of accounting and market metrics. This analysis was done by employing the technique of two stage robust using the lagged dependent variable as an instrument of regression. Then the relationship of the residuals of panel data and the natural cultural values, consolidated from the SVS, was analyzed. Again,the two stage robust regression was employed, which confirmed the results obtained by previous research of Chui et al. (2002).