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Your search keyword '"Saito, Richard"' showing total 1 results
Start Over Author "Saito, Richard" Search Limiters Peer Reviewed Topic capital structure Publication Type Academic Journals
1 results on '"Saito, Richard"'

1. Estrutura de Capital e Remuneração dos Funcionários: Evidência Empírica no Brasil.

Author

Duk Young Choi, Saito, Richard, and Brunassi Silva, Vinicius Augusto

Subjects
*FINANCIAL leverage, *WAGES, *CAPITAL structure, *RISK aversion, *MATHEMATICAL models, *ECONOMICS
Abstract

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. [ABSTRACT FROM AUTHOR]

Published
2015
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