Do Spanish and Portuguese Listed Companies Converge in their Choice of Capital Structure?

Abstract

In order to study the behaviour of capital structure decisions of Spanish and Portuguese listed firms, we using as methodology the dynamic estimators to analyse the influence of firm-specific and country-specific determinants. The sample in this study is composed with 67 Spanish listed non-financial Spanish listed firms and 35 Portuguese listed non-financial firms, for the period of analysis between 2008 and 2016.