Relação entre o EBITDA e a estrutura de capital: um estudo com as empresas listadas no IBrX 50

The capital structure of organizations and their influencing factors have been a topic interest discussion in organizational academic scope recent years. In the world composition has explored under various theoretical lenses whose main is to identify what companies do define structure. Thus, present study aimed analyze relationship between EBITDA (Earnings before interest, taxes, depreciation amortization) listed on Brazil 50 Index (IBrX 50). sample analyzed was formed by 28 companies, corresponding periods from 2014 2017. From descriptive multivariate statistics, results showed that there negative significant structure, showing larger lower EBITDA. This result keeping with Pecking Order Theory, because according it, high-profit contract less debt using profit generated as source financing, unlike profitable need seek third-party sources financing.