Factores Determinantes del Endeudamiento Bancario en la Empresa No Financiera Chilena

2012. Trimestre Económico. Vol. 79, Nº 313, Pp 53 - 84

Sebastian Sanchez C, Mauricio Jara B

Abstract:

This paper is concerned with the ownership structure of corporate debt from Chilean firms. Specifically, we examine the relation between specific firm factors and bank debt use for a sample of 168 listed Chilean firms between 1997 and 2008. More exactly, it is found that bank loans are related positively to growth opportunities, collaterals and the risk of the projects, and negatively related to firm size and the quality of projects. We find also that the positive incidence of growth opportunities becomes negative in large firms. 

Palabras claves: Deuda Publica, deuda bancaria, oportunidades de crecimiento, tamaño empresarial

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