Couto, GualterFerreira, Sofia C.2018-10-092018-10-092009-05Couto, Gualter; Ferreira, Sofia C. (2009). Os determinantes da estrutura de capital de empresas do PSI-20, “Working Paper Series”, 8, 15 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.http://hdl.handle.net/10400.3/4833In this paper, the intention is to analyse the capital structure features of the companies operating in the Portuguese Capital Market (PSI-20). A panel analysis allows the studying of relationships between debt level and those factors which financial literature considers as determining for capital structure: size, tangibility, growth opportunities, operational risk, non-debt tax shields, profit, dividend payout, and stock price performance. This empirical study purports to describe the effects of these variables on the companies' debt level.porCapital StructureDeterminants FactorsPanel Data Analysisworking paper