DETERMINANTES DO PAGAMENTO DE JUROS SOBRE REMUNERAÇÃO DO CAPITAL PRÓPRIO DAS EMPRESAS BRASILEIRAS LISTADAS NA REVISTA EXAME MAIORES E MELHORES/DETERMINING FACTORS OF INTEREST PAYMENTS OVER EQUITY AMONG BRAZILIAN COMPANIES IN THE EXAME MAGAZINE BIGGEST AND BEST LISTING (REVISTA EXAME MAIORES E MELHORES)/DETERMINANTES DEL PAGO DE INTERESES SOBRE REMUNERACIÓN DEL CAPITAL PROPIO DE LAS EMPRESAS BRASILEÑAS LISTADAS EN LA REVISTA EXAME MAIORES E MELHORES

This study aims to identify the determining factors of interest payments over equity in Brazilian companies listed in the Exame Magazine Maiores e Melhores (Biggest and Best) listing. With this, it hopes to contribute to the development of theoretical gap on the motivating factors of equity compensa...

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Bibliographic Details
Published in:Revista Alcance 2015-04, Vol.22 (2), p.230
Main Authors: Ramos, Fernando Maciel, Gollo, Vanderlei, Diel, Fábio José, Klann, Roberto Carlos
Format: Article
Language:Spanish
Subjects:
Compensation
Equity capital
Stockholders
Testes
Variables
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Summary:This study aims to identify the determining factors of interest payments over equity in Brazilian companies listed in the Exame Magazine Maiores e Melhores (Biggest and Best) listing. With this, it hopes to contribute to the development of theoretical gap on the motivating factors of equity compensation. The sample consists of the 100 biggest companies listed in the aforementioned magazine, in the period 2008 to 2011. The authors have considered only companies that made payments of interest on equity in the period analyzed. The results indicate that the higher the company's equity capital and total assets, the greater the practices of interest payments on equity. However, the higher the company's shares and profitability, the lower the payments of interest on equity. Thus, they have concluded that the analyzed variables help to explain the compensation option tied to interest on shareholders' equity. These results can contribute to other studies on the theme, in order to understand the issues related to policies of shareholder remuneration.
ISSN:1983-716X