Internationalization and its effects on financing strategies for Latin American multinationals

• Grant number: 12/12302-9
• Support type: Regular Research Grants
• Duration: September 01, 2012 - August 31, 2014
• Field of knowledge: Applied Social Sciences - Administration - Business Administration
• Principal researcher: Hsia Hua Sheng
• Grantee: Hsia Hua Sheng
• Home Institution: Escola de Administração de Empresas (EAESP). Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil

Abstract

Studies on the internationalization of companies from emerging countries have been expanding as more and more domestic enterprises have transposed the national borders in search of new markets. However, there are theoretical gaps in the literature when studies try to explain the capital composition of multinational companies, especially firms from emerging countries. Thus, this study aims to explore two of these gaps, contributing to the upstream-downstream hypothesis wich explains the effects of internationalization on capital structure. The objective of this study is therefore to analyze the effects of entry mode and ownership structure in different types of debt of multinational companies in Latin America. For this purpose, will be use quantitative data analysis by panel data regressions from a sample of Argentinean, Brazilian, Chilean and Mexican publicly traded companies. It is expected that we can analyse: (a) the effects of the entry modes on the indebtedness levels (trade credit, debentures, external and others have used in previous studies) of multinational companies from emerging countries, (b) the effects of the ownership structure on the indebtedness levels (trade credit, debentures, external and others have used in previous studies) of multinationals companies from emerging countries. (AU)

Scientific publications

(References retrieved automatically from Web of Science and SciELO through information on FAPESP grants and their corresponding numbers as mentioned in the publications by the authors)

HSIA HUA SHENG; VINÍCIUS SILVA PEREIRA. Effects of Internationalization on Ownership Structure: Evidence from Latin American Firms. BAR, Braz. Adm. Rev., v. 11, n. 3, p. 323-339, Set. 2014.