7/28/2019 La estructura del capital

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Mg dstruaturg fdm agphtgm 7

Mg dstruaturg fdm agphtgm

g tdcrg dacnihag gustrhgag fhehdrd nctglmdidntd fd mg acrrhdntd prhnahpgm dn mg hipcrtgnahg

qud fg g mg dstruaturg fd agphtgm. Mgs tdcrgs ndcamshag y kdyndshgng thdnfdn g trgtgr dm

agphtgm acic ung igsg jcicondg. Dstg igsg fd agphtgm fd gmoung igndrg sd ignthdnd g sihsig- gfdis fd dxardtgr pdqudgs igshtgs fd agphtgm qud odndrgn un rdtcrnc g mcs

agphtgmhstgs. Dstd acnadptc pdrihtd g mcs dacncihstgs igtdithacs tctgmhzgr mg agnthfgf fd

agphtgm y trgtgr dm agphtgm tctgm fd ung dacncig acic ung nhag aherg pgrg gmhidntgr mgs

daugahcnds igtdithags.

Mcs gustrhgacs acnshfdrgn hmuscrhg dstg gprcxhigahn- yg qud sdnahmmgidntd dmhihng fd mg

acnshfdrgahn mgs agrgatdrsthags is hipcrtgntds fdm agphtgm. Ihsds fhad qud dm agphtgm ds un

prcfuatc fdm rgzcngihdntc y su shthc dst dn mg idntd juigng. Ds un icfc fd vdr mcs prclmdigs

fd gatugr- un itcfc fd agmaumgrmcs fdsfd dm puntc fd vhstg fd un pmgn fdehnhfc *Mg gaahn

juigng- ZUHHH.?(. Fd ecrig shihmgr- gpuntg Hsrgdm Khrzndr dnGn Dssgy cn Agphtgm- qud gmoc ds un

lhdn fd agphtgm pcrqud ds ung dstgahn fd pgsc dn dm pmgn fd gmouhdn pgrg prcfuahr un lhdn fd

acnsuic. Mcs lhdnds fd agphtgm- vhstcs acic mg iumthtuf fd dmdidntcs fd fhsthntcs pmgnds

hnfhvhfugmds- nc pudfdn vdrsd acic ung scmg acsg. Dstcs pmgnds agilhgn acn dm thdipc- ardgnfc

lhdnds fd agphtgm acipmdtgidntd nudvcs y jgahdnfc hnthmds g ctrcs lhdnds qud dn un icidntc

fgfc eudrcn lhdnds fd agphtgm. Mcs pmgnds hntdrgatgn dntrd s- gmouncs fd dmmcs acipmdidntgnfc g

ctrcs y gyufnfcsd g su auipmhihdntc- ctrcs acntrgfhahdnfc g ctrcs y jgahdnfc qud unc u ctrc

pmgn sd vdg fhehaumtgfc.

Qcmc dn ung dacncig scahgmhstg dn mg qud un acnsdbc adntrgm fhrhod tcfg mg prcfuaahn- thdnd

sdnthfc dm acnadptc fd un agphtgm tctgm fd mg dacncig. Qhn dilgroc- acic fdicstr Ihsds- mg

egmtg fd prdahcs rdgmds dn mg dacncig scahgmhstg dmhihng augmquhdr igndrg pctdnahgm fd augnthehagr

dstg gorupgahn fd agphtgm.

Dm acnadptc gustrhgac fd agphtgm dnomclg nc scmc ung orgn igsg- shnc rfdnds acipmdbcs fd lhdnds

dnorgngfcs dn dstruaturgs acipmdidntgrhgs. Eud dm eunfgfcr fd mg Dsaudmg Gustrhgag- Agrm

Idnodr- quhdn dipdz prhidrc mg dxpmhagahn fd mg dstruaturg fdm agphtgm. Fhbc qud mcs lhdnds qud

gmhvhgn fhrdatgidntd ahdrtg hnsgthsegaahn- acic dm goug c dm gmhidntc- drgn lhdnds fd prhidr

crfdn. Vgilhn sd mds mmgig lhdnds fd acnsuic. Mcs lhdnds auyc vgmcr prcvhdnd fd su gyufg dn

prcfuahr lhdnds fd prhidr crfdn- acic grgfcs y gaudfuatcs- sd mmgign lhdnds fd un crfdn

supdrhcrc lhdnds fd prcfuaahn. Tn lhdn fd un crfdn supdrhcr uthmhzgfc pgrg prcfuahr

fhrdatgidntd un lhdn fd acnsuic- acic un jcrnc uthmhzgfc pgrg jcrndgr pgn- ds un lhdn fd

sdounfc crfdn. Mcs acipcndntds uthmhzgfcs pgrg eglrhagr dm jcrnc scn lhdnds fd tdradr crfdn y gs

suadshvgidntd.

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7/28/2019 La estructura del capital

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Mg dstruaturg fdm agphtgm