Este trabajo pretende contrastar emp¡ricamente la hip¢tesis del Pecking Order para una muestra constituida por 665 empresas portuguesas para el per¡odo de 1997-2003, mediante la aplicaci¢n de la metodolog¡a de datos de panel. Adem s de utilizarse las denominadas variables convencionales...

This paper proposes to elect the days to pay accounts payable determinants and our findings strongly support that the accounts payable problematic is closely related to short term financial decisions with a positive and significative influence of firm?s profitability and size factors. The...