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Estrutura de Capital e Remuneração dos Funcionários: Evidência Empírica no Brasil/Capital Structure and Staff Salary: Empirical Evidence in Brazil

Revista de administração contemporânea, 2015-03, Vol.19 (2), p.249 [Peer Reviewed Journal]

Copyright Associação Nacional de Pós-Graduação e Pesquisa em Administração Mar/Apr 2015 ;ISSN: 1415-6555 ;EISSN: 1982-7849

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  • Title:
    Estrutura de Capital e Remuneração dos Funcionários: Evidência Empírica no Brasil/Capital Structure and Staff Salary: Empirical Evidence in Brazil
  • Author: Choi, Duk Young ; Saito, Richard ; Silva, Vinicius Augusto Brunassi
  • Subjects: Capital structure ; Chief executive officers ; Correlation analysis ; Financial leverage ; Staff ; Studies ; Wages & salaries
  • Is Part Of: Revista de administração contemporânea, 2015-03, Vol.19 (2), p.249
  • Description: This paper analyzes whether the higher the company's financial leverage, the higher the salaries demanded by staff for the embedded financial distress risk. By applying Berk, Stanton and Zechner 's (2010) model, we use a 2SLS for a sample of 250 non-financial companies listed on BOVESPA from 2007 to 2009. Indeed, we find that for each additional 1% of financial leverage, the staff remunerations increase by 0.26%, controlling for Chief Executive Officer (CEO) profile.
  • Publisher: Rio de Janeiro: Associação Nacional de Pós-Graduação e Pesquisa em Administração
  • Language: Portuguese
  • Identifier: ISSN: 1415-6555
    EISSN: 1982-7849
  • Source: ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
    DOAJ Directory of Open Access Journals
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