<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422017000200625</article-id>
<article-id pub-id-type="doi">10.1016/j.cya.2016.06.010</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Determinants of debt: Empirical evidence on firms in the district of Santarém in Portugal]]></article-title>
<article-title xml:lang="es"><![CDATA[Determinantes del endeudamiento: Evidencia empírica sobre las empresas del distrito de Santarém en Portugal]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Lourenço]]></surname>
<given-names><![CDATA[António José dos Santos Morão]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Oliveira]]></surname>
<given-names><![CDATA[Eduardo Carmo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Politécnico de Santarém  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Portugal</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<volume>62</volume>
<numero>2</numero>
<fpage>625</fpage>
<lpage>643</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422017000200625&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422017000200625&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422017000200625&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract In recent decades, the theme of the capital structure and its determinants has caused some controversy and aroused great interest in the financial domain. Several theories and studies have emerged applying to this domain. This study aims to test the explanatory power of the determinants of debt which have the greatest support in the financial literature, size, growth, business risk, profitability, tangibility and non-debt tax shields and its validity in accordance with the theories of capital structure, on firms in Santarém's district. The sample contains financial data of 6184 firms for the period 2008-2012. The results indicate that firms in Santarém's district in Portugal have a high level of debt, using mainly short-term debt. The growth and profitability have proved to be determinants of debt, confirming the Pecking Order Theory.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En las últimas décadas el tema de la estructura del capital y sus determinantes han suscitado alguna controversia y despertado un gran interés en el campo de las finanzas. Varias teorías y varios estudios han surgido aplicados a este dominio. Este estudio tiene como objetivo poner a prueba la capacidad explicativa de los factores determinantes del endeudamiento que tienen el mayor apoyo en la literatura financiera: dimensión, crecimiento, riesgo de negocio, rentabilidad, tangibilidad y las ventajas fiscales no resultantes del endeudamiento y su validez de acuerdo con las teorías de la estructura de capital, en las empresas del distrito de Santarém. La muestra utilizada contiene los datos financieros de 6,184 empresas no financieras para el período de 2008 a 2012. Los resultados obtenidos indican que las empresas del distrito de Santarém en Portugal tienen un alto nivel de endeudamiento, recurriendo principalmente a corto plazo. El crecimiento y la rentabilidad han demostrado ser factores determinantes del endeudamiento, lo que confirma la teoría de la Jerarquía de las Fuentes de Financiación.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Capital structure]]></kwd>
<kwd lng="en"><![CDATA[Debt]]></kwd>
<kwd lng="en"><![CDATA[Determinants]]></kwd>
<kwd lng="es"><![CDATA[Estructura de capital]]></kwd>
<kwd lng="es"><![CDATA[Endeudamiento]]></kwd>
<kwd lng="es"><![CDATA[Determinantes]]></kwd>
</kwd-group>
</article-meta>
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