The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)

Roberto J.Santillán Salgado; Alejandro Fonseca Ramírez; Francisco Venegas Martínez

doi:10.1016/j.cya.2016.01.002

The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)

Translated title of the contribution: The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)

Roberto J.Santillán Salgado, Alejandro Fonseca Ramírez, Francisco Venegas Martínez

Research output: Contribution to journal › Review article › peer-review

Abstract

This work examines the short and medium-term effects of the international prices of several mineral (gold, silver copper, zinc) and metallurgic (aluminum, steel) products, on the capital structure of mining and metallurgic firms listed in the stock markets of Argentina, Brazil, Mexico and Peru. The study uses quarterly data for the period 2000-2014. Consistent with the Dynamic Pecking Order theory, the findings confirm that profitability and the price of the products they sell, relate negatively with the firms' financial leverage.

Translated title of the contribution	The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)
Original language	English
Article number	01
Journal	Contaduria y Administracion
Volume	63
Issue number	3
DOIs	https://doi.org/10.1016/j.cya.2016.01.002
State	Published - 2018
Externally published	Yes

Keywords

Capital Structure
Corporate Performance.
Mineral products' prices

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10.1016/j.cya.2016.01.002

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title = "The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)",

abstract = "This work examines the short and medium-term effects of the international prices of several mineral (gold, silver copper, zinc) and metallurgic (aluminum, steel) products, on the capital structure of mining and metallurgic firms listed in the stock markets of Argentina, Brazil, Mexico and Peru. The study uses quarterly data for the period 2000-2014. Consistent with the Dynamic Pecking Order theory, the findings confirm that profitability and the price of the products they sell, relate negatively with the firms' financial leverage.",

keywords = "Capital Structure, Corporate Performance., Mineral products' prices",

author = "Salgado, {Roberto J.Santill{\'a}n} and Ram{\'i}rez, {Alejandro Fonseca} and Mart{\'i}nez, {Francisco Venegas}",

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AU - Salgado, Roberto J.Santillán

AU - Ramírez, Alejandro Fonseca

AU - Martínez, Francisco Venegas

PY - 2018

Y1 - 2018

N2 - This work examines the short and medium-term effects of the international prices of several mineral (gold, silver copper, zinc) and metallurgic (aluminum, steel) products, on the capital structure of mining and metallurgic firms listed in the stock markets of Argentina, Brazil, Mexico and Peru. The study uses quarterly data for the period 2000-2014. Consistent with the Dynamic Pecking Order theory, the findings confirm that profitability and the price of the products they sell, relate negatively with the firms' financial leverage.

AB - This work examines the short and medium-term effects of the international prices of several mineral (gold, silver copper, zinc) and metallurgic (aluminum, steel) products, on the capital structure of mining and metallurgic firms listed in the stock markets of Argentina, Brazil, Mexico and Peru. The study uses quarterly data for the period 2000-2014. Consistent with the Dynamic Pecking Order theory, the findings confirm that profitability and the price of the products they sell, relate negatively with the firms' financial leverage.

KW - Capital Structure

KW - Corporate Performance.

KW - Mineral products' prices

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U2 - 10.1016/j.cya.2016.01.002

DO - 10.1016/j.cya.2016.01.002

M3 - Artículo de revisión

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VL - 63

JO - Contaduria y Administracion

JF - Contaduria y Administracion

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M1 - 01

ER -

The impact of metals' prices on the capital structure of mining and metallurgic firms in Latin America (2004-2014)

Abstract

Keywords

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