MACROECONOMIC VARIABLES AND CAPITAL STRUCTURE: PUBLIC FINANCE AND INSURANCE IN LATIN AMERICA AND ASIA
2021 ◽
Vol 9
(2)
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pp. 133-142
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This article analyzes the relationship between macroeconomic variables and the capital structure of public finance and insurance companies in Latin America and Asia. The variables used were: Gross Domestic Product (GDP), Exchange Rate (ER), Interest Rate (%Δ IR), and Capital Structure (CS). Data were analyzed annually from 2010 to 2018 by static panel analysis and multiple regression using the Newey-West estimator. Interest rate and exchange rate were negatively correlated with CS. However, GDP was not significantly correlated with CS at 10% probability. It is concluded that macroeconomics interferes with the capital structure of financial institutions in Latin America and Asia.
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2020 ◽
Vol 17
(4)
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pp. 341-355
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2019 ◽
Vol 23
(4)
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pp. 442-453
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2021 ◽
Vol 10
(2)
◽
pp. 133-155
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