Entorno competitivo, endeudamiento y especificidad de los activos: Evidencia en el caso de las empresas españolas

Arbeitspapier

In the firm's competitive strategy act together their financial decision and their decisions in the product markets. Even if in the last three decades the theoretical and empirical literature has growth, still are topics few explored. One of them is the relationship between firm's asset specificity, as a characteristic of the competitive environment, and their indebtedness as competitive tool. This paper tries answer if additionally to the level of specificity in the firm's assets the corporations use their indebtedness as another tool in their competitive strategy. The results show that the asset specificity influences in different way the firms' debt, the effect differs accordingly at the debt' maturity and the competitive environment faced.

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• Language: Spanisch

References and Relationships

• Bibliographic citation: Series: Working Papers ; No. 2013-15

Classification and Topics

• Classification: Wirtschaft ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Market Structure, Firm Strategy, and Market Performance: General
• Subject: Asset specificity ; Indebtedness ; Competitive strategy

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Sanchez Valadez, Manuel
• Event: Veröffentlichung
• (who): Banco de México
• (where): Ciudad de México
• (when): 2013

Further information

• Handle: http://hdl.handle.net/10419/100123