{"id":106682,"date":"2011-04-02T00:00:00","date_gmt":"2011-04-02T00:00:00","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/capital-structure-analysis-in-spanish-vc-backed-firms-at-the-expasion-stage-analisis-de-la-estructura-de-capital-en-empresas-espanolas-en-fase-de-expansion-participadas-por-capital-riesgo\/"},"modified":"2011-04-02T00:00:00","modified_gmt":"2011-04-02T00:00:00","slug":"capital-structure-analysis-in-spanish-vc-backed-firms-at-the-expasion-stage-analisis-de-la-estructura-de-capital-en-empresas-espanolas-en-fase-de-expansion-participadas-por-capital-riesgo","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/ciencias-economicas\/capital-structure-analysis-in-spanish-vc-backed-firms-at-the-expasion-stage-analisis-de-la-estructura-de-capital-en-empresas-espanolas-en-fase-de-expansion-participadas-por-capital-riesgo\/","title":{"rendered":"Capital structure analysis in spanish vc-backed firms at the expasion stage (an\u00e1lisis de la estructura de capital en empresas espa\u00f1olas en fase de expansi\u00f3n participadas por capital riesgo)."},"content":{"rendered":"<h2>Tesis doctoral de <strong> \u00c1lvaro Edmundo Tresierra Tanaka <\/strong><\/h2>\n<p>\u00abcapital structure analysis in spanish vc-backed firms at the expansion stage  la presente tesis doctoral estudia el lado de la demanda del mercado de capital riesgo, analizando el comportamiento de la financiaci\u00f3n en las empresas que posteriormente s on capaces de atraer capital riesgo (cr), determinando si este comportamiento refleja, de alguna manera, las caracter\u00edsticas buscadas por los inversores de capital riesgo en el momento de seleccionar empresas en las que invertir.  en primer lugar, se  analizan los determinantes de la estructura de capital en empresas que son participadas por cr, en el momento anterior al de la inversi\u00f3n inicial. En un segundo estudio, y con objeto de complementar el an\u00e1lisis anterior, se estudia el comportamiento  din\u00e1mico de la ratio de deuda antes de la entrada de cr. Los resultados obtenidos en ambos estudios son comparados con los obtenidos para un grupo de empresas con caracter\u00edsticas similares, pero que no recibieron cr (o grupo de control), de modo que  las diferencias halladas entre ambos grupos de empresas deber\u00edan estar relacionadas con el hecho de recibir financiaci\u00f3n mediante cr.   asimismo, se analiza el efecto que el cr ejerce sobre la estructura de capital de las empresas participadas una v ez que \u00e9stas han recibido la inversi\u00f3n inicial, hall\u00e1ndose algunas diferencias en los determinantes de la estructura de capital antes y despu\u00e9s de llevarse a cabo dicha inversi\u00f3n. Adem\u00e1s, se estudia si los cambios producidos afectan de alguna manera a la posterior financiaci\u00f3n mediante deuda de la empresa participada.  el an\u00e1lisis es llevado a cabo en una muestra representativa de empresas espa\u00f1olas no cotizadas en fase de expansi\u00f3n que recibieron la primera inversi\u00f3n de cr durante el periodo co mprendido entre 1995 y 2007. La muestra se halla libre de cualquier sesgo de supervivencia, ya que el an\u00e1lisis incluye tanto empresas que sobreviven como aquellas que fracasaron en dicho periodo. El an\u00e1lisis econom\u00e9trico se realiza utilizando la meto dolog\u00eda de datos de panel, dado que se dispone de datos en secci\u00f3n cruzada y serie temporal\u00bb<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Capital structure analysis in spanish vc-backed firms at the expasion stage (an\u00e1lisis de la estructura de capital en empresas espa\u00f1olas en fase de expansi\u00f3n participadas por capital riesgo).<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Capital structure analysis in spanish vc-backed firms at the expasion stage (an\u00e1lisis de la estructura de capital en empresas espa\u00f1olas en fase de expansi\u00f3n participadas por capital riesgo). <\/li>\n<li><strong>Autor:<\/strong>\u00a0 \u00c1lvaro Edmundo Tresierra Tanaka <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Complutense de Madrid<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 04\/02\/2011<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Marina Balboa Ramon<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: Juan  Antonio Maroto acin <\/li>\n<li>pedro Martinez solano (vocal)<\/li>\n<li>clara Cardone riportella (vocal)<\/li>\n<li>Francisco Sogorb mira (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de \u00c1lvaro Edmundo Tresierra Tanaka \u00abcapital structure analysis in spanish vc-backed firms at the expansion stage la presente 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