Abstract

SANCHEZ VALADEZ, Manuel. Endeudamiento y competencia en el mercado: Evidencia de las empresas en México. Econ: teor. práct [online]. 2009, n.31, pp.9-42. ISSN 2448-7481.

Motivated by the importance of analyzing decisions of firms in different markets where they interact, and considering different perspectives to examine the causes or effects, or both, this paper argues that corporate financial decisions are influenced by competition they face in real markets. The main objective of this work is to provide evidence to help cover empirical studies lack about this interaction. Results found suggest differential effects of competitive environment on firms financial structure. Moreover, results partially corroborate the theory on the main determinants of corporate financial structure, underscoring preference of companies for increased use of domestic sources of resources.

Keywords : Cournot competition; Bertrand competition; financing sources; debt; competitive strategies; leverage.

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