Analysis of the Capital Structure of the Main Banking Systems in Central America in the 2015–⁠2019 period

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dc.creatorRamírez-Miranda, Michael
dc.creatorGonzález-Ruiz, Juan David
dc.creatorDuque-Grisales, Eduardo
dc.date2022-05-30
dc.date.accessioned2025-10-01T23:48:57Z
dc.descriptionThis study aims to identify the determinants of the capital structure of the banking systems in El Salvador, Guatemala, and Panama in the 2015–⁠2019 period. For that purpose, the authors analyzed 68 financial institutions that monthly report their financial statements to local banking divisions. The mixed-methods approach adopted here included an extensive literature review to compile theoretical and empirical studies about the main postulates related to this topic. In addition, a quantitative approach was used to analyze the evolution of each banking system and the behavior of its capital structure. Hence, the data were described, and an econometric technique was employed to develop a static panel data model with fixed effects. The results obtained show that the traditional determinants that explain the capital structure of non-financial firms are significant in the banking context as well. Furthermore, the relationship between said determinants and debt capacity agrees with the pecking order theory. en-US
dc.descriptionEl propósito de este artículo fue identificar los determinantes de la estructura de capital para el sistema bancario de El Salvador, Guatemala y Panamá en el período de 2015-2019, en el que se analizaron, específicamente, 68 instituciones bancarias que mensualmente reportan sus estados contables a las superintendencias financieras locales. Con esa finalidad, se realizó un diseño metodológico mixto, aplicando, mediante una revisión de literatura extensa, una recolección teórica y empírica de los principales postulados alrededor del tema, en el que además se analizó, por medio de un enfoque cuantitativo, la evolución de cada uno de los sistemas bancarios y su comportamiento estructural de capital. Para esto se hizo un estudio descriptivo de datos, así como el desarrollo econométrico de un modelo de datos de panel estático con efectos fijos. Los resultados obtenidos permiten identificar que los determinantes tradicionales que explican la estructura de capital de las firmas no financieras también son significativos en el contexto bancario, y que su relación con la capacidad de endeudamiento logró ajustarse al planteamiento de la teoría de la jerarquización financiera. es-ES
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dc.identifierhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/2047
dc.identifier10.22430/24223182.2047
dc.identifier.urihttps://hdl.handle.net/20.500.12622/7071
dc.languagespa
dc.publisherInstituto Tecnológico Metropolitano - ITMes-ES
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/2047/2479
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/2047/2482
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/2047/2483
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/2047/2514
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dc.rightsDerechos de autor 2022 Juan David Gonzalez Ruiz, Michael Ramirez, Eduardo Duquees-ES
dc.rightshttp://creativecommons.org/licenses/by-nc-sa/4.0es-ES
dc.sourceRevista CEA; Vol. 8 No. 17 (2022); e2047en-US
dc.sourceRevista CEA; Vol. 8 Núm. 17 (2022); e2047es-ES
dc.source2422-3182
dc.source2390-0725
dc.subjectSistema bancario centroamericanoes-ES
dc.subjectestructura de capitales-ES
dc.subjectteoría de la jerarquización financieraes-ES
dc.subjectpanel de datoses-ES
dc.subjectCentral American banking systemen-US
dc.subjectcapital structureen-US
dc.subjectPecking Order Theoryen-US
dc.subjectpanel dataen-US
dc.titleAnalysis of the Capital Structure of the Main Banking Systems in Central America in the 2015–⁠2019 perioden-US
dc.titleAnálisis de la estructura de capital en los principales sistemas bancarios centroamericanos en el período 2015-2019es-ES
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion

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