Recursos de colección

UTL Repository Universidade Técnica de Lisboa (37.000 recursos)

O Repositório Institucional da Universidade Técnica de Lisboa desenvolvido no âmbito do projecto RCAAP. Este repositório destina-se a recolher, preservar e disponibilizar o acesso às publicações científicas e didácticas de seis: Escolas da UTL: Faculdade de Medicina Veterinária, Instituto Superior de Agronomia, Instituto Superior de Economia e Gestão, Instituto Superior de Ciências Sociais e Políticas , Faculdade de Motricidade Humana, Faculdade de Arquitectura. O Instituto Superior Técnico, igualmente Escola Da UTL, tem repositório independente.

Mostrando recursos 1 - 3 de 3

  1. Markowitz efficient frontier and capital market line : evidence from the portuguese stock market

    Garcia, Maria Teresa; Borrego, Daniel
    This paper estimates the efficient frontier and the capital market line using listed stocks of the Portuguese capital market that are part of the PSI20 index, considering two different periods - before and after the 2008 financial crisis, known as the Global Financial Crisis. The results show the impact of the 2008 financial crisis on the global minimum variance portfolio and on the market portfolio. The sensitivity analysis of the results to the inclusion or not of the year 2008 is also considered
    - 03-mar-2018

  2. Capital structure of exporter SMEs during the financial crisis : evidence from Portugal

    Lisboa, Inês
    This study aims to identify the most important determinants to explain the capital structure of exporter SMEs during the financial crisis. Capital structure is measured using three alternative ratios: total debt, long-term debt, and short-term debt, as the impact of the determinants can depend on debt maturity. Analysing an unbalanced sample of 277 Portuguese exporter SMEs, from 2008 until 2014, and using a panel data methodology, estimating the models with fixed effects for firms, the results suggest that size, profitability, asset structure, non-debt tax shields, growth, liquidity, and age are important determinants for explaining firms’ capital structure. Furthermore, exports intensity...
    - 03-mar-2018

  3. Corporate tax avoidance and ex ante equity cost of capital in Europe

    Pulido, Matilde; Barros, Victor
    The aim of this paper is to study the longstanding relationship between corporate tax avoidance and ex ante equity cost of capital in Europe, taking into consideration country specific characteristics, which are essential in a context of corporate tax competition. We find that investors apprehend tax avoidance differently at distinct levels of tax avoidance. We provide strong evidence that as low tax avoidance firms engage in greater tax avoidance, the ex ante equity cost of capital decreases. On the contrary, when high-tax avoidance firms undertake greater levels of tax avoidance, the ex ante equity cost of capital appears to increase....
    - 03-mar-2018

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