This study aims to investigate the determinants of Portuguese SMEs capital structure and examine effects 2008 financial crisis on structure. The sample used considers period 2007-2010, resulting in 12,857 SMEs. Results suggest that liquidity, asset profitability are most important explaining We report a downward tendency companies' debt ratios levels during crisis.

We show that corporate use of long-term debt has decreased in the U.S. over past three decades and this trend is heterogeneous across firms. The median percentage maturing more than years from 53% 1976 to 6% 2008 for smallest firms, but did not decrease largest maturity was generated by firms with higher information asymmetry new issuing public equity 1980s 1990s. Finally, we demand-side factors do fully explain markets’ supply-side play an important role. Our findings suggest shortening...

Most portfolio managers and risk strive to pick assets that lead efficient financial mitigation; among them, gold stands out. This paper provides new insights into the role of as both a hedge safe haven towards European stock sovereign bond markets. We base analysis on evidence spanning Euro's inception COVID-19 pandemic spread across Europe. To capture gold's ability, we use ADCC-GARCH DCC-GARCH models, while for testing property OLS regressions different quantiles. Our results show is...

Abstract The purpose of this empirical work is to understand the reasoning behind debt maturity choices from Portuguese SMEs after 2008 financial crisis and see if those are in accordance with existing literature. We use a sample 2,000 for time period 2009 2011. find an increasing trend on average during three years analyzed. Our results partially consistent liquidity theory where intermediate quality firms choose issue more long term while high tend short debt. Smaller firms, affected by...

The purpose of this paper is to characterize the level maturity management accounting in Portuguese industrial SMEs. Specifically, study classifies firms using Kaplan’s Four-Stage model; and introduces a new model classify them better. research design exploratory. data were collected through interviews with those responsible for 58 analysis used descriptive inferential statistics cluster was performed according their characteristics. results showed that all SMEs belong stage 2 it possible...

Este trabalho consiste num estudo de caso, no qual se pretende analisar o impacto dos Sistemas Informação da Câmara Municipal Sintra sobre seus colaboradores, prosseguimento das suas atividades diárias. O tem por base modelo pesquisa criado Torkzadeh e Doll (1999) que avalia Tecnologias diário utilizadores. São também consideradas as dimensões avaliadas nos estudos Pereira (2003) Lucht et al. (2007). Foi investigado nas dimensões: produtividade, satisfação controlo gestão, inovação, fases do...

Business models have evolved through the years. The collective online shopping systems emerge in 2008, and may be considered as an effective promotion tool for business partners. In this context, objectives of research paper are: i) to characterize sites promotional campaigns; ii) evaluate perception partners on effectiveness last campaign; iii) relationship between campaign characteristics campaigns well profile. Analyzing data from 38 we conclude: tend homogeneous; overall tends positive,...

Business analytics is an information system that combines different data from internal and external sources organizations in order to help improve the knowledge of managers, as well decision making process. The competitive advantage created by better greater understanding data. It focuses on business gathers three types analysis: descriptive, predictive prescriptive. This study aims propose a framework can guide companies implementation solutions. Moreover, it identify set critical success...

With the appearance of smart grid and meters, need to create technological solutions that allow energy distributors monitor events communicate with meters installed in grid, has been increasing. Considering above, help monitoring communications specifically power failures, this research as main objective build a dashboard outages grid. For purpose, specialized company electrical sector was selected apply validate dashboard. The CRISP-DM methodology adopted, it is focused on business require...

We analyse if the Brazilian Allowance for Corporate Equity (ACE-type system) reduces debt tax bias. Specifically, we study continuous treatment effect of interest on equity negatively affects level financial leverage. find that policy implemented is similar to deductible cash dividends and not an ACE. The empirical implication increases bias, producing a rebound what expected this risk-taking behaviour corporate capital structure. This homogeneous in firms with different constraints status....