<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0121-4772</journal-id>
<journal-title><![CDATA[Cuadernos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Econ.]]></abbrev-journal-title>
<issn>0121-4772</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-47722018000100143</article-id>
<article-id pub-id-type="doi">10.15446/cuad.econ.v37n73.56041</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[EL ESTADO DEL ARTE SOBRE LA TEORÍA DE LA ESTRUCTURA DE CAPITAL DE LA EMPRESA]]></article-title>
<article-title xml:lang="en"><![CDATA[The state of the art regarding the theory of a company&#8217;s capital structure]]></article-title>
<article-title xml:lang="fr"><![CDATA[L&#8217;état de l&#8217;art sur la théorie de la structure du capital de l&#8217;entreprise]]></article-title>
<article-title xml:lang="pt"><![CDATA[O estado da arte sobre a teoria da estrutura do capital da empresa]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ramírez-Herrera]]></surname>
<given-names><![CDATA[Luis-Miguel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Palacín-Sánchez]]></surname>
<given-names><![CDATA[María-José]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Sevilla  ]]></institution>
<addr-line><![CDATA[Sevilla ]]></addr-line>
<country>Spain</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Sevilla  ]]></institution>
<addr-line><![CDATA[Sevilla ]]></addr-line>
<country>Spain</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2018</year>
</pub-date>
<volume>37</volume>
<numero>73</numero>
<fpage>143</fpage>
<lpage>165</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-47722018000100143&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-47722018000100143&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-47722018000100143&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo resume las teorías más destacadas sobre la formación de la estructura financiera de las empresas, y realiza un recorrido cronológico hasta la época actual. Se analizan los estudios más representativos y sus resultados sobre la incidencia de estas teorías en la formación de la estructura financiera empresarial, por medio del análisis del comportamiento de diversas variables representativas de estas teorías. Además, se repasan otras características representativas en este sentido, como son los factores institucionales y la localización de las empresas. También ofrece una idea general del estado del arte de la formación de la estructura financiera de las empresas. JEL: G23, G32, G33, G38.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This article summarizes the most important theories on the creation of a company&#8217;s capital structure in chronological order. We analyze the most representational studies and their results on the incidence that these theories have on the creation of a company&#8217;s capital structure by using a behavioral analysis of different variables that are representative of these theories. Additionally, we review other representative characteristics in this context such as institutional factors and where companies are located. It also offers a general idea of the state of the art regarding the creation of company&#8217;s financial structure. JEL: G23, G32, G33, G38.]]></p></abstract>
<abstract abstract-type="short" xml:lang="fr"><p><![CDATA[Résumé Cet article résume les théories les plus marquantes sur la formation de la structure financière des entreprises et effectue un survol chronologique jusqu&#8217;à l&#8217;époque actuelle. Nous analysons les études les plus représentatives et leur résultats sur l&#8217;incidence de ces théories dans la formation de la structure financière entrepreneuriale, par l&#8217;analyse du comportement de diverses variables représentatives de ces théories. En outre, nous examinons d&#8217;autres caractéristiques représentatives dans ce sens, tels que les facteurs institutionnels et la localisation des entreprises. Cela donne également une idée générale de l&#8217;état de l&#8217;art de la formation de la structure financière des entreprises. JEL : G23, G32, G33, G38.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este artigo resume as teorias mais destacadas sobre a formação da estrutura financeira das empresas, e realiza um percurso cronológico até a época atual. Analisam-se os estudos mais representativos e seus resultados sobre a incidência dessas teorias na formação da estrutura financeira empresarial, mediante a análise do comportamento de diversas variáveis representativas dessas teorias. Além do mais, reveem-se outras características representativas nesse sentido, como são os fatores institucionais e a localização das empresas. Também oferece uma ideia geral do estado da arte da formação da estrutura financeira das empresas. JEL : G23, G32, G33, G38.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[estructura de capital]]></kwd>
<kwd lng="es"><![CDATA[coste de capital]]></kwd>
<kwd lng="es"><![CDATA[apalancamiento]]></kwd>
<kwd lng="es"><![CDATA[valor de la empresa]]></kwd>
<kwd lng="en"><![CDATA[Capital structure]]></kwd>
<kwd lng="en"><![CDATA[capital cost]]></kwd>
<kwd lng="en"><![CDATA[leverage]]></kwd>
<kwd lng="en"><![CDATA[firm valuation.]]></kwd>
<kwd lng="fr"><![CDATA[structure du capital]]></kwd>
<kwd lng="fr"><![CDATA[coût du capital]]></kwd>
<kwd lng="fr"><![CDATA[effet de levier]]></kwd>
<kwd lng="fr"><![CDATA[valeur de l&#8217;entreprise.]]></kwd>
<kwd lng="pt"><![CDATA[estrutura de capital]]></kwd>
<kwd lng="pt"><![CDATA[custo de capital]]></kwd>
<kwd lng="pt"><![CDATA[subsidio]]></kwd>
<kwd lng="pt"><![CDATA[valor da empresa.]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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</ref-list>
</back>
</article>
