abstract
- © 2018 Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración. This work examines the short and medium-term effects of the international prices of several mineral (gold, silver copper, zinc) and metallurgic (aluminum, steel) products, on the capital structure of mining and metallurgic firms listed in the stock markets of Argentina, Brazil, Mexico and Peru. The study uses quarterly data for the period 2000-2014. Consistent with the Dynamic Pecking Order theory, the findings confirm that profitability and the price of the products they sell, relate negatively with the firms' financial leverage.