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- Title
Los procesos de inversión en activos como determinantes de la estructura financiera de las grandes empresas mexicanas, 2000-2016: Un enfoque por sectores.
- Authors
Peujio Fozap, Francis Magloire; Domínguez Blancas, Christian Said
- Abstract
This paper analyzes how asset investment processes influence the financial structure of large companies in the manufacturing, commerce and services sectors. The results indicate that the expansion of its assets is due to its strategy of survival and expansion to other markets, which, because it has privileged acquisitions and mergers, is reflected in a relative increase in intangible assets, although physical assets remain as the main item. Econometric estimates for a panel of 63 large companies listed on the Mexican Stock Exchange show the relevance of cash flows and intangibles as factors that affect the financial structure of companies in the manufacturing sector, contrary to what is observed in the commerce and services sector, where it is the domestic economic activity, measured by the igae, which is associated with the evolution of leverage levels.
- Subjects
BUSINESS finance; ASSETS (Accounting); INVESTMENTS; FINANCIAL management; BOLSA Mexicana de Valores SAB de CV; MEXICAN economy; ECONOMETRICS
- Publication
Análisis Económico, 2019, Vol 34, Issue 85, p9
- ISSN
0185-3937
- Publication type
Article
- DOI
10.24275/uam/azc/dcsh/ae/2019v34n85/peujio