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The crisis effect on the capital structure of portuguese SME
Couto, Tiago Q.; Vieira, Elisabete S.This paper aims to identify the main determinants of leverage on Portuguese Small and Medium Enterprises (SME), as well as their behaviour to financial prosperity and recession. Applying the panel data methodology, we analyse a sample of 1,444 SME for the period between 2004 and 2012. The results show a positive relationship between tangibility of assets, the firms’ size, the growth rate of the asset and the bu...
Date: 2019
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Origin: Estudos do ISCA