Determinantes da estrutura de capital das empresas dos setores de energia elétrica e telecomunicações no Brasil

Abstract

Studies that assess the capital structure have proven relevance to the understanding on how firms finance themselves, as well as what influences the capital structure to maximize the company. To evaluate these factors was analyzed the variable debt, broken down into four stages, with respect to risk, firm size, asset composition, growth and profitability factors. The energy and telecommunications sectors were selected as an object of study. In the data analysis, it was used multiple linear regression with panel data. The found results were that all factors presented in the literature are capable of explanation on the capital structure of firms.