Análise das Políticas de Financiamento das Firmas do IBRX 100 Utilizando Filtro de Kalman
Fernando Oliveira () and
No 355, Working Papers Series from Central Bank of Brazil, Research Department
In this paper, we test two static theories of capital structure Static Tradeoff Theory (STT) e a Pecking Order Theory (POT) so as to analyze the capital structure of Brazilian firms. We built the optimum capital structure of firms estimating a state space model with a smooth Kalman Filter. Our results indicate that Brazilian firms follow STT and not POT
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Persistent link: https://EconPapers.repec.org/RePEc:bcb:wpaper:355
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