The determinants of capital structure: the case of European firms

Detalhes bibliográficos
Autor(a) principal: Silva, Carolina Maria Borges Branco da
Data de Publicação: 2011
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Texto Completo: http://hdl.handle.net/10071/14905
Resumo: The Capital structure is considered a matter of discussion in the area of corporate finance for many researchers, and the conclusions are not consensual. The present study aims to assess the determinants of capital structure in European companies, identifying the impact of economic and institutional variables on it. This analysis covers 753 European companies for a period of nine years, and the results are in line with the Pecking Order Theory, and suggest that company size, reputation, collateral, business sector and economic context of local and global factors influence the capital structure of companies. It is essential to understand the determinants of capital structure in order to make funding decisions with assertiveness that maximize the goals envisaged by the companies.
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spelling The determinants of capital structure: the case of European firmsCapital structureFinancial leverageDebt and financial riskEstrutura de capitalAlavancagem financeiraEndividamentoRisco financeiroThe Capital structure is considered a matter of discussion in the area of corporate finance for many researchers, and the conclusions are not consensual. The present study aims to assess the determinants of capital structure in European companies, identifying the impact of economic and institutional variables on it. This analysis covers 753 European companies for a period of nine years, and the results are in line with the Pecking Order Theory, and suggest that company size, reputation, collateral, business sector and economic context of local and global factors influence the capital structure of companies. It is essential to understand the determinants of capital structure in order to make funding decisions with assertiveness that maximize the goals envisaged by the companies.A estrutura de capital é considerada um tema em discussão, na área das finanças empresariais, por muitos investigadores sendo que as conclusões não são consensuais. O estudo apresentado tem como objectivo avaliar os determinantes da estrutura de capital nas empresas europeias, identificando o impacto das variáveis institucionais e económicas nas mesmas. Esta análise incide sobre 753 empresas num período de 9 anos, sendo que os resultados obtidos estão alinhados com a teoria de Pecking Order, e sugerem que a dimensão da empresa, reputação, garantias, sector de actividade e o contexto económico local e global são factores que influenciam a estrutura de capital das empresas. É essencial conhecer os determinantes da estrutura de capital de forma a tomar decisões de financiamento com assertividade que maximizam os objectivos preconizados pelas empresas.2018-01-09T12:54:42Z2021-01-09T00:00:00Z2011-07-04T00:00:00Z2011-07-042011-05info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamapplication/octet-streamhttp://hdl.handle.net/10071/14905engSilva, Carolina Maria Borges Branco dainfo: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:RCAAP2024-07-07T03:06:43Zoai:repositorio.iscte-iul.pt:10071/14905Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T18:15:49.703144Repositórios 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 determinants of capital structure: the case of European firms
title The determinants of capital structure: the case of European firms
spellingShingle The determinants of capital structure: the case of European firms
Silva, Carolina Maria Borges Branco da
Capital structure
Financial leverage
Debt and financial risk
Estrutura de capital
Alavancagem financeira
Endividamento
Risco financeiro
title_short The determinants of capital structure: the case of European firms
title_full The determinants of capital structure: the case of European firms
title_fullStr The determinants of capital structure: the case of European firms
title_full_unstemmed The determinants of capital structure: the case of European firms
title_sort The determinants of capital structure: the case of European firms
author Silva, Carolina Maria Borges Branco da
author_facet Silva, Carolina Maria Borges Branco da
author_role author
dc.contributor.author.fl_str_mv Silva, Carolina Maria Borges Branco da
dc.subject.por.fl_str_mv Capital structure
Financial leverage
Debt and financial risk
Estrutura de capital
Alavancagem financeira
Endividamento
Risco financeiro
topic Capital structure
Financial leverage
Debt and financial risk
Estrutura de capital
Alavancagem financeira
Endividamento
Risco financeiro
description The Capital structure is considered a matter of discussion in the area of corporate finance for many researchers, and the conclusions are not consensual. The present study aims to assess the determinants of capital structure in European companies, identifying the impact of economic and institutional variables on it. This analysis covers 753 European companies for a period of nine years, and the results are in line with the Pecking Order Theory, and suggest that company size, reputation, collateral, business sector and economic context of local and global factors influence the capital structure of companies. It is essential to understand the determinants of capital structure in order to make funding decisions with assertiveness that maximize the goals envisaged by the companies.
publishDate 2011
dc.date.none.fl_str_mv 2011-07-04T00:00:00Z
2011-07-04
2011-05
2018-01-09T12:54:42Z
2021-01-09T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/14905
url http://hdl.handle.net/10071/14905
dc.language.iso.fl_str_mv eng
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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
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