Factores determinantes financieros de la estructura optima de capital. evidencia del mercado bursátil de valores español (2000 – 2023)

• Burgos Baena, Agustín ^[1] ; Ramírez Guzmán, Demetrio ^[2]
  1. [1] Universidad de Sevilla

     Universidad de Sevilla

     Sevilla, España

     
  2. [2] Universidad Autónoma Benito Juárez de Oaxaca

     Universidad Autónoma Benito Juárez de Oaxaca

     México

     
• Localización: COMPENDIUM: Cuadernos de Economía y Administración, ISSN-e 1390-9894, ISSN 1390-8391, Vol. 11, Nº. 3, 2024 (Ejemplar dedicado a: Revista Compendium: Cuadernos de Economía y Administración), págs. 180-192
• Idioma: español
• DOI: 10.46677/compendium.v11i3.1258
• Títulos paralelos:
  • FINANCIAL DETERMINING FACTORS OF THE OPTIMAL CAPITAL STRUCTURE. EVIDENCE FROM THE SPANISH STOCK MARKET (2000 –2023)
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• Resumen

  • En el presente trabajo se propone identificar los factores determinantes de la estructura de capital en las empresas cotizadas en España durante 2000 – 2023. Se aplica la regresión lineal multivariante para identificar los factores. Se han encontrado mayor capacidad explicativa de la estructura de capital de corto plazo, frente el de largo plazo y el total. Destacando que los factores destacados por la literatura tienen influencia en el óptimo de capital. Entre los factores destacados se encuentra el tamaño, rentabilidad, edad, crecimiento, tangibilidad, oportunidades de crecimiento, riesgo operativo, la estructura, la tasa impositiva, el escudo fiscal no deuda, los deudores netos, los beneficios no distribuidos y la liquidez.

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