The relationship between corporate governance and capital structure of Brazilian companies during 2000-2013 period

  • Camila Veneo Campos Fonseca Instituto de Economia, Universidade Estadual de Campinas (Unicamp)
  • Rodrigo Lanna Franco da Silveira Instituto de Economia, Universidade Estadual de Campinas (Unicamp)
  • Célio Hiratuka Instituto de Economia, Universidade Estadual de Campinas (Unicamp)
DOI: https://doi.org/10.4025/enfoque.v35i2.29673

Abstract

The purpose of this study is to explore the impact of corporate governance practices on capital structure of 252 Brazilian non-financial public listed companies between 2000 and 2013. Panel data econometric techniques were used, with the adoption of a System Generalized Methods of Moments estimator in order to control the potential sources of endogeneity between ownership structure and governance practices. Results show evidence that high corporate governance levels improved the access to debt capital and increased the debt maturity.

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Published
2016-08-19
How to Cite
Fonseca, C. V. C., Silveira, R. L. F. da, & Hiratuka, C. (2016). The relationship between corporate governance and capital structure of Brazilian companies during 2000-2013 period. Enfoque: Reflexão Contábil, 35(2), 35-52. https://doi.org/10.4025/enfoque.v35i2.29673
Issue
Vol 35 No 2 (2016)
Section
Original Articles

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