宏观经济变量和资本结构:拉丁美洲和亚洲的公共财政和保险

IF 0.2 Q4 BUSINESS, FINANCE Revista Evidenciacao Contabil & Financas Pub Date : 2021-08-31 DOI:10.22478/ufpb.2318-1001.2021v9n2.51666

Caio Augusto Franco Lucas, Rafael Martins Noriller, R. Hall, Maria Aparecida Caldas Nogueira, Ducineli Regis Botelho

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引用次数: 1

摘要

本文分析了拉美和亚洲的宏观经济变量与公共财政和保险公司资本结构之间的关系。使用的变量是:国内生产总值(GDP)，汇率(ER)，利率(%Δ IR)和资本结构(CS)。从2010年到2018年，每年通过静态面板分析和使用new - west估计器的多元回归分析数据。利率和汇率与CS呈负相关。然而，GDP与CS在10%的概率下不显著相关。结论是宏观经济对拉美和亚洲金融机构的资本结构有干扰作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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MACROECONOMIC VARIABLES AND CAPITAL STRUCTURE: PUBLIC FINANCE AND INSURANCE IN LATIN AMERICA AND ASIA

This article analyzes the relationship between macroeconomic variables and the capital structure of public finance and insurance companies in Latin America and Asia. The variables used were: Gross Domestic Product (GDP), Exchange Rate (ER), Interest Rate (%Δ IR), and Capital Structure (CS). Data were analyzed annually from 2010 to 2018 by static panel analysis and multiple regression using the Newey-West estimator. Interest rate and exchange rate were negatively correlated with CS. However, GDP was not significantly correlated with CS at 10% probability. It is concluded that macroeconomics interferes with the capital structure of financial institutions in Latin America and Asia.

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Revista Evidenciacao Contabil & Financas BUSINESS, FINANCE-

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