Long-term debt and performance in crisis times: evidences of firms from Brazil and Latin America

Authors

  • Dermeval Martins Borges Junior Universidade Federal de Uberlândia
  • Lucas Alves Duarte de Sarvas Universidade Federal de Uberlândia
  • Juliana Rodrigues Oliveira Universidade Federal de Uberlândia
  • Kárem Cristina de Sousa Ribeiro Universidade Federal de Uberlândia

DOI:

https://doi.org/10.16930/2237-7662/rccc.v16n47p87-96

Keywords:

Capital structure, Long-term debt, Performance.

Abstract

This study aimed at examining the effect of long-term debt on the performance of Brazilian and Latin American companies, encompassing the previous economic scenario, during and after the global crisis of 2008. It was considered in this study the accounting data from public companies listed in stock exchanges of Brazil, Chile, Argentina, Colombia, Mexico and Peru within the period of 2007 to 2015. It was elaborated a multiple linear regression model with panel data based on the literature of the subject. It was used Stata software for data analysis. The results indicated that for companies from Latin America, except Brazilians, there is a negative relationship between long-term debt and performance. In the case of Brazilian companies, for such relationship, the results were inconclusive.

Author Biographies

Dermeval Martins Borges Junior, Universidade Federal de Uberlândia

Graduado em Administração pela Universidade Federal de Uberlândia. Mestrando do Programa de Pós-Graduação em Administração da Universidade Federal de Uberlândia. Endereço: Av. João Naves de Ávila, 2121, Bloco 5M, Sala 109 M., Santa Mônica | 38400-902 | Uberlândia/MG | Brasil.

Lucas Alves Duarte de Sarvas, Universidade Federal de Uberlândia

Graduado em Tecnologia em Processos Gerenciais pela Universidade de Uberaba. Mestrando do Programa de Pós-Graduação em Administração da Universidade Federal de Uberlândia. Endereço: Av. João Naves de Ávila, 2121, Bloco 5M, Sala 109 M., Santa Mônica | 38400-902 | Uberlândia/MG | Brasil.

Juliana Rodrigues Oliveira, Universidade Federal de Uberlândia

Graduada em Administração pela Universidade de Uberaba. Mestranda do Programa de Pós-Graduação em Administração da Universidade Federal de Uberlândia. Endereço: Av. João Naves de Ávila, 2121, Bloco 5M, Sala 109 M., Santa Mônica | 38400-902 | Uberlândia/MG | Brasil.

Kárem Cristina de Sousa Ribeiro, Universidade Federal de Uberlândia

Doutora em Administração pela Universidade de São Paulo. Professora do Programa de Pós-Graduação em Administração da Universidade Federal de Uberlândia. Endereço: Av. João Naves de Ávila, 2121, Bloco 5M, Sala 109 M., Santa Mônica | 38400-902 | Uberlândia/MG | Brasil.

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Published

2017-04-28

How to Cite

Borges Junior, D. M., Sarvas, L. A. D. de, Oliveira, J. R., & Ribeiro, K. C. de S. (2017). Long-term debt and performance in crisis times: evidences of firms from Brazil and Latin America. Revista Catarinense Da Ciência Contábil, 16(47). https://doi.org/10.16930/2237-7662/rccc.v16n47p87-96

Issue

Vol. 16 No. 47 (2017): January-April

Section

Articles

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