This master thesis examines the influence of the of relationship banking in the capital structure of Portuguese small and medium enterprises (SMEs), in the years of 2006, 2008 and 2015. Although, the relation between delegated monitoring and asymmetric information has been subject of many studies, the relation between these two concepts and the capital structure of a firm has rarely studied. Our work will be focus on understanding who does relationship lending influences financing decisions of SMEs, by exploring inside information (due to asymmetric information between financial intermediaries) that came from delegated monitoring activities. In order to do so, we try to answer the following research question: What is the impact of relationship lending in the capital structure and financing decisions on SMEs in Portugal?
Date of Award | 10 Jul 2017 |
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Original language | English |
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Awarding Institution | - Universidade Católica Portuguesa
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Supervisor | Ricardo Cunha (Supervisor) |
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- Relationship lending
- Delegated monitoring
- Asymmetry of information
- Capital structure
- Portugal
Relationship lending and financing of SMEs in Portugal
Figueiredo, J. T. P. L. B. D. (Student). 10 Jul 2017
Student thesis: Master's Thesis