The financial leverage of large Portuguese firms in the European context

Detalhes bibliográficos
Autor(a) principal: Limão, Francisco Ferreira
Data de Publicação: 2016
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Texto Completo: http://hdl.handle.net/10362/16793
Resumo: The Financial Leverage of Large Portuguese Firms in the European Context This paper studies the leverage, cost of debt servicing ability and structure of debt maturity of large Portuguese firms, over the pre-crisis (2006-2009) and post-crisis (2010-2013) periods through a comparative analysis with other European peers. We document that large Portuguese firms have been reducing their leverage since the end of 2009. We find that this decrease in leverage is not a consequence higher Equity levels but rather a result of asset’s downsizing. We also document that Portuguese firms are still more leveraged than their European peers, even though this difference has decreased over time. High corporate debt levels are transversal across industries.
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spelling The financial leverage of large Portuguese firms in the European contextLeverageCapital structureLarge firmsEurozoneDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe Financial Leverage of Large Portuguese Firms in the European Context This paper studies the leverage, cost of debt servicing ability and structure of debt maturity of large Portuguese firms, over the pre-crisis (2006-2009) and post-crisis (2010-2013) periods through a comparative analysis with other European peers. We document that large Portuguese firms have been reducing their leverage since the end of 2009. We find that this decrease in leverage is not a consequence higher Equity levels but rather a result of asset’s downsizing. We also document that Portuguese firms are still more leveraged than their European peers, even though this difference has decreased over time. High corporate debt levels are transversal across industries.Custodio, ClaudiaTrabucho, PedroRUNLimão, Francisco Ferreira2016-03-15T15:09:29Z2016-012016-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/16793TID:201988135enginfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-22T17:20:51Zoai:run.unl.pt:10362/16793Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T16:51:27.889042Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv The financial leverage of large Portuguese firms in the European context
title The financial leverage of large Portuguese firms in the European context
spellingShingle The financial leverage of large Portuguese firms in the European context
Limão, Francisco Ferreira
Leverage
Capital structure
Large firms
Eurozone
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short The financial leverage of large Portuguese firms in the European context
title_full The financial leverage of large Portuguese firms in the European context
title_fullStr The financial leverage of large Portuguese firms in the European context
title_full_unstemmed The financial leverage of large Portuguese firms in the European context
title_sort The financial leverage of large Portuguese firms in the European context
author Limão, Francisco Ferreira
author_facet Limão, Francisco Ferreira
author_role author
dc.contributor.none.fl_str_mv Custodio, Claudia
Trabucho, Pedro
RUN
dc.contributor.author.fl_str_mv Limão, Francisco Ferreira
dc.subject.por.fl_str_mv Leverage
Capital structure
Large firms
Eurozone
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Leverage
Capital structure
Large firms
Eurozone
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description The Financial Leverage of Large Portuguese Firms in the European Context This paper studies the leverage, cost of debt servicing ability and structure of debt maturity of large Portuguese firms, over the pre-crisis (2006-2009) and post-crisis (2010-2013) periods through a comparative analysis with other European peers. We document that large Portuguese firms have been reducing their leverage since the end of 2009. We find that this decrease in leverage is not a consequence higher Equity levels but rather a result of asset’s downsizing. We also document that Portuguese firms are still more leveraged than their European peers, even though this difference has decreased over time. High corporate debt levels are transversal across industries.
publishDate 2016
dc.date.none.fl_str_mv 2016-03-15T15:09:29Z
2016-01
2016-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/16793
TID:201988135
url http://hdl.handle.net/10362/16793
identifier_str_mv TID:201988135
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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