Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P
This paper aims to analyze the degree of application of two theories of capital structure that have been contradictory and extensively compared. For the implementation of the Trade Off theory are used two models, the first proposed by Lopez and de Luna (2002) and the second model to be applied is th...
| Main Authors: | , |
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| Format: | Online |
| Language: | spa |
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Universidad Pedagógica y Tecnológica de Colombia
2014
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/2448 |
| _version_ | 1801705944905678848 |
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| author | Vargas, Sandra Milena Zambrano Corredor, Gustavo Adolfo Acuña |
| author_facet | Vargas, Sandra Milena Zambrano Corredor, Gustavo Adolfo Acuña |
| author_sort | Vargas, Sandra Milena Zambrano |
| collection | OJS |
| description | This paper aims to analyze the degree of application of two theories of capital structure that have been contradictory and extensively compared. For the implementation of the Trade Off theory are used two models, the first proposed by Lopez and de Luna (2002) and the second model to be applied is that proposed by Cruz et al. (2003). For the implementation of the Pecking Order theory is analyzed how stocks have been managed, longterm debt, the growth of net operating assets, the trend that has been operating profitability of assets and EBITDA. At the end you will find that in the periods analyzed the most used theory has been to Pecking Order which has been more empirical evidence in other organizations and that Trade Off theory application was not found. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-2448 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2014 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-24482022-06-17T21:33:41Z Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P Teoría del Pecking Order versus teoría del Trade off para la empresa Coservicios S.A. E.S.P. Vargas, Sandra Milena Zambrano Corredor, Gustavo Adolfo Acuña capital structure trade off pecking order debt level cost of capital. Estructura de capital intercambio pecking order This paper aims to analyze the degree of application of two theories of capital structure that have been contradictory and extensively compared. For the implementation of the Trade Off theory are used two models, the first proposed by Lopez and de Luna (2002) and the second model to be applied is that proposed by Cruz et al. (2003). For the implementation of the Pecking Order theory is analyzed how stocks have been managed, longterm debt, the growth of net operating assets, the trend that has been operating profitability of assets and EBITDA. At the end you will find that in the periods analyzed the most used theory has been to Pecking Order which has been more empirical evidence in other organizations and that Trade Off theory application was not found. El presente trabajo pretende analizar el grado de aplicación de dos teorías de estructura de capital que han sido contradictorias y extensamente comparadas. Para la aplicación de la teoría del Trade Off se utilizan dos modelos, el primero propuesto por López y de Luna (2002) y el segundo es el propuesto por Cruz et al., (2003). Para la aplicación de la teoría del Pecking Order se analiza la forma como han sido manejadas las reservas, la deuda a largo plazo, el crecimiento de los activos operacionales netos, la tendencia que ha tenido la rentabilidad operacional de los activos y el EBITDA. Al final se encuentra que en los períodos analizados la teoría más usada ha sido la de Pecking Order la cual ha tenido más evidencia empírica en otras organizaciones, y de la teoría del Trade Off no se encontró aplicación. Universidad Pedagógica y Tecnológica de Colombia 2014-04-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf text/html https://revistas.uptc.edu.co/index.php/cenes/article/view/2448 10.19053/22565779.2448 Apuntes del Cenes; Volumen 32 N° 56: julio - diciembre de 2013; 205-236 Apuntes del Cenes; Volumen 32 N° 56: julio - diciembre de 2013; 205-236 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/2448/2327 https://revistas.uptc.edu.co/index.php/cenes/article/view/2448/6266 Copyright (c) 2013 Sandra Milena Zambrano Vargas, Gustavo Adolfo Acuña Corredor http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | capital structure trade off pecking order debt level cost of capital. Estructura de capital intercambio pecking order Vargas, Sandra Milena Zambrano Corredor, Gustavo Adolfo Acuña Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title | Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title_alt | Teoría del Pecking Order versus teoría del Trade off para la empresa Coservicios S.A. E.S.P. |
| title_full | Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title_fullStr | Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title_full_unstemmed | Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title_short | Theory of the Pecking Order versus theory of the Trade Off for the company Coservicios S.A. E.S.P |
| title_sort | theory of the pecking order versus theory of the trade off for the company coservicios s a e s p |
| topic | capital structure trade off pecking order debt level cost of capital. Estructura de capital intercambio pecking order |
| topic_facet | capital structure trade off pecking order debt level cost of capital. Estructura de capital intercambio pecking order |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/2448 |
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