RECENT INTERNATIONAL RESEARCH IN CAPITAL STRUCTURE

Authors

  • Edelcio Koitiro Nisiyama Universidade Presbiteriana Mackenzie
  • Wilson Toshiro Nakamura Programa de Pós-Graduação em Administração da Universidade Presbiteriana Mackenzie

DOI:

https://doi.org/10.18227/2237-8057rarr.v1i1.2614

Keywords:

Capital Structure, Leverage, International Academic Journals

Abstract

Capital Structure is still one of controversial themes in corporate finance, which allows many research activities both on the theories that have been widely discussed but also on the several interrelationships with other corporate aspects. The aim of this article was to review the most recent academic publication of researches involving capital structure of the firms. This study focuses on the last 3 years, from 2011 to 2013, and on the international scientific journals in Finance that present the highest impact factors, namely: The Review of Financial Studies, The Journal of Finance, Journal of Financial Economics e Journal of Banking & Finance. Despite of having been widely discussed, the differences between the main theories on capital structure, the trade-off theory and the pecking order theory, are still object of researches – however, maybe for being the most recent, the theory of equity market timing has been the most discussed theme in the last 3 years. Besides these topics, the researchers have dealt with many aspects of the corporate variables that are direct or indirectly associated with the capital structure decisions. This article presents a brief summary of several publications allowing a general overview on the recent researches.

Author Biographies

Edelcio Koitiro Nisiyama, Universidade Presbiteriana Mackenzie

Doutorando em Administração de Empresas na linha de Finanças Estratégicas do Programa de Pós-Graduação em Administração de Empresas da Universidade Presbiteriana Mackenzie.

Wilson Toshiro Nakamura, Programa de Pós-Graduação em Administração da Universidade Presbiteriana Mackenzie

Doutor em Administração de Empresas pela FEA-USP. Professor do Programa de Pós-Graduação em Administração de Empresas da Universidade Presbiteriana Mackenzie.

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Published

30/07/2015

Issue

Vol. 5 No. 1 (2015)

Section

Administração Financeira (Financial Administration)

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