In this paper we analyze the relationship between the investment of Pension Funds Managers (AFPs) and the cost of corporate debt (public and private). Using a sample of 93 non-financial Chilean listed firms between 2009 and 2014, we find that AFP's increases the probability to issue bonds....

In this paper, we propose an integrated model of capital structure to study the partial adjustment process to the optimal long term debt ratio. In our analysis, we consider the characteristics of the institutional environment as a factor that influences such adjustment. We use a sample of quoted...

Purpose: This paper aims to examine literature on corporate governance from the gender perspective adopting the two novel approaches: bibliometric analysis and content analysis. Design/methodology/approach: For citation mapping and comprehensive content analysis, total 393 Web of Science...

Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile, Colombia, Mexico, and Peru for the period of 2000-2015, we confirm prior literature by showing that when power distribution among several large shareholders (contestability) increases, firms' financial...

The environmental, social, and governance (ESG) factors are used to evaluate nonfinancial performance of a firm. While some researchers state that ESG initiatives taken by a firm increase its value and performance by lowering costs and unsystematic risks, others consider it as a wastage of firm...

We test whether the use of bank debt as a governance mechanism is conditioned by the financial system in which firms operate. Our results indicate that the legal and institutional environment determines the use of bank debt to finance growth opportunities. Firms use bank debt to finance their...