Determinantes da estrutura de capitais nas micro e pequenas empresas do setor industrial

Abstract

One of the most interesting and most studied topics in corporate of finances is capital structure. This theme was first approached by Modigliani e Miller (1958), who published the article “The Cost of Capital, Corporation Finance and the Theory of Investment”. After this study new theories have appeared, especially the theory Trade Off (Miller, 1977) and the theory Pecking Order (Myers, 1984). Capital Structure is still one of the most discussed themes due to the fact that the results and conclusions found have not yet readed a concrete and universal conclusion. This work has as goal the investigation of the capital structure of the micro and the small industrial Portuguese companies. It was verified that the micro and the small Portuguese companies show some specifics and most of the variables behave as the predicted in literature. The analysis will be based on a sample of panel data of Portuguese industrial firms, between 2005 and 2012.

Date of Award	2015
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Paulo Alves (Supervisor) & Ricardo Cunha (Supervisor)