Publicação
The determinants of variation in firm leverage across European countries
| dc.contributor.advisor | Dai, Qinglei | |
| dc.contributor.author | Taddei, Alessandro | |
| dc.date.accessioned | 2013-05-13T11:28:44Z | |
| dc.date.available | 2013-05-13T11:28:44Z | |
| dc.date.issued | 2012-06 | |
| dc.description | A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics | por |
| dc.description.abstract | In this paper I empirically test what variables directly affect firm leverage across European countries, considering institutional, economic and macroeconomic variables. I find evidence in favour of the trade-off theory, given by the positive relation between profitability and leverage, and also evidence in favour of the pecking-order theory, given by the negative relation between tax rate and leverage. Thus, at the country-level, capital structure choices are partially explained by the trade-off theory and the pecking-order theory. In addition, I find that institutional and macroeconomic factors, such as entry into the EMU and economic crisis, greatly impact firm leverage across European Countries. | por |
| dc.identifier.uri | http://hdl.handle.net/10362/9571 | |
| dc.language.iso | eng | por |
| dc.peerreviewed | no | por |
| dc.publisher | NSBE - UNL | por |
| dc.title | The determinants of variation in firm leverage across European countries | por |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | por |
| rcaap.type | masterThesis | por |