Zélia Maria da Silva Serrasqueiro
        
            Branch Coordinator | 
        
            Research Staff Member with PhD Degree | 
        
            Group Coordinator  
        
        
        
            
                Full Professor 
            
            
                (Universidade da Beira Interior)
            
        
    Ph.D. in Management (U. Beira Interior, 2001), B.A. in Management (ISEG/UTL, 1988).
zelia@ubi.pt
        Research Topics
Corporate Finance; Financial Institutions and Small Business Financing; Small Business Management and Entrepreneurship.
Research output
        
    Pina, A., Fuinhas, J., Belucio, M. and Serrasqueiro
    
    
, 
    ()
    
, 
        
            "How do economic growth and terrorism affect tourism in the Council of Europe countries?"  
        
    
, 
    Tourism: An International Interdisciplinary Journal 
    
.
    
2022
        
    Ashraf, S., Félix, E.G.S. and Serrasqueiro, Z.,
    
    
, 
    (2022)
    
, 
        
            "Does board committee independence affect financial distress likelihood? A comparison of China with the UK"  
        
    
, 
    Asia Pacific Journal of Management
    
.
    
        
    Morais, F., Serrasqueiro, Z., & Ramalho, J. J.
    
    
, 
    (2022)
    
, 
        
            "Capital structure speed of adjustment heterogeneity across zero leverage and leveraged European firms"  
        
    
, 
    Research in International Business and Finance 
    
.
    
        
    Neves, M.E., Vieira, E. and Serrasqueiro, Z.
    
    
, 
    (2022)
    
, 
        
            "Management or market variables in the assessment of corporate performance? Evidence on a bank-based system"  
        
    
, 
    International Journal of Accounting & Information Management 
    
, 
    30
    
, 
372-390
.
    
        
    Sardo, F., Serrasqueiro, Z.
    
    
, 
    (2022)
    
, 
        
            "Determinants of working capital: empirical evidence on manufacturing SMEs"  
        
    
, 
    Journal of Economic Studies
    
, 
    49
    
, 
506-521
.
    
        
    Sardo, F., Serrasqueiro, Z., & Armada, M. R.
    
    
, 
    (2022)
    
, 
        
            "The importance of owner loans for rebalancing the capital structure of small knowledge-intensive service firms"  
        
    
, 
    Research in International Business and Finance
    
, 
    61
    
.
    
        
    Sardo, F., Serrasqueiro, Z., Vieira, E., & Armada, M. R.
    
    
, 
    (2022)
    
, 
        
            "Is financial distress risk important for manufacturing SMEs to rebalance the short-term debt ratio?"  
        
    
, 
    Journal of Risk Finance 
    
.
    
        
    Sardo, F., Vieira, E. S., Serrasqueiro, Z.
    
    
, 
    (2022)
    
, 
        
            "The Role of Gender and Succession on the Debt Adjustments of Family Firm Capital Structure"  
        
    
, 
    Eurasian Business Review 
    
, 
    12
    
, 
349-372
.
    
2021
        
    Alves, H., Manso, Pires, J., Serrasqueiro, Z., Estevão, C., Nave, A.
    
    
, 
    (2021)
    
, 
        
            "Tourism-based regional development: boosting and inhibiting factors"  
        
    
, 
    Anatolia
    
.
    
        
    Marques, I.C.P., Serrasqueiro, Z. and Nogueira, F.
    
    
, 
    (2021)
    
, 
        
            "Covid-19 and organisational development: important signs of a new pillar for sustainability"  
        
    
, 
    Social Responsibility Journal
    
.
    
        
    Morais, F., Serrasqueiro Z. and Ramalho .J.
    
    
, 
    (2021)
    
, 
        
            "The zero-leverage phenomenon in European listed firms: A financing decision or an imposition of the financial market?"  
        
    
, 
    BRQ - Business Research Quarterly
    
.
    
        
    Morais, F., Serrasqueiro, Z. and Ramalho, J.J.S.
    
    
, 
    (2021)
    
, 
        
            "The heterogeneous effect of governance mechanisms on zero-leverage phenomenon across financial systems"  
        
    
, 
    Corporate Governance
    
.
    
2020
        
    Ashraf, S., Félix, E.G.S., & Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "Development and testing of augmented distress prediction model: A comparative study on developed and emerging market."  
        
    
, 
    Journal of Multinational Financial Management
    
.
    
        
    Ashraf, S., Félix, E., Serrasqueiro, Z
    
    
, 
    (2020)
    
, 
        
            "Development and testing of an augmented distress prediction model: A comparative study on a developed and an emerging market"  
        
    
, 
    Journal of Multinational Financial Management
    
, 
    5758
    
, 
57-58
.
    
        
    Cunha, P., Neves, S., Marques, A., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "Adoption of energy efficiency measures in the buildings of micro-, small- and medium-sized Portuguese enterprises"  
        
    
, 
    Energy Policy
    
, 
    146
    
.
    
        
    Lussuamo, J., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "Restrictions on access to bank finance for SMEs in Cabinda - Angola"  
        
    
, 
    Small Enterprise Research
    
, 
    27
    
, 
275-288
.
    
        
    Morais, F., Serrasqueiro, Z. and Ramalho, J.
    
    
, 
    (2020)
    
, 
        
            "The zero-leverage phenomenon: A  bivariate probit with partial observability approach"  
        
    
, 
    Research in International Business and Finance
    
, 
    53
    
, 
1-16
.
    
        
    Panziera, I., Serrasqueiro, Z., Nogueira, F.
    
    
, 
    (2020)
    
, 
        
            "Corporate Governance And The Environment In The Health Sector: Systematic Literature Review"  
        
    
, 
    Journal of Governance and Regulation
    
, 
    9
    
, 
8-33
.
    
        
    Sardo, F., Serrasqueiro, Z. and Félix, E.
    
    
, 
    (2020)
    
, 
        
            "Does Venture Capital affect capital structure rebalancing? The case of small knowledge-intensive service firms"  
        
    
, 
    Structural  Change and Economic Dynamics
    
, 
    53
    
, 
170-179
.
    
2018
        
    Sardo, F., Z. Serrasqueiro, H. Alves
    
    
, 
    (2018)
    
, 
        
            "On the Relationship Between Intellectual Capital and Financial Performance: A Panel Data Analysis on SME Hotels"  
        
    
, 
    International Journal of Hospitality Management
    
, 
    75
    
, 
67-75
.
    
        
    Serrasqueiro, Z., J. Leitão, D. Smallbone
    
    
, 
    (2018)
    
, 
        
            "Small- and medium-sized enterprises (SME) growth and financing sources: Before and after the financial crisis"  
        
    
, 
    Journal of Management and Organization
    
.
    
2017
        
    Matias, F., Z. Serrasqueiro
    
    
, 
    (2017)
    
, 
        
            "Are there reliable determinant factors of capital structure decisions? Empirical study of SMEs in different regions of Portugal"  
        
    
, 
    Research in International Business and Finance
    
, 
    40
    
, 
1933
.
    
        
    Nunes, P.M., Z. Serrasqueiro
    
    
, 
    (2017)
    
, 
        
            "Short-Term Debt and Long-Term Debt Determinants in Small and Medium-Sized Hospitality Firms"  
        
    
, 
    Tourism Economics
    
, 
    23
    
, 
543-560
.
    
2016
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2016)
    
, 
        
            "Determinants of Growth in Portuguese Small and Medium-Sized Hotels: Empirical Evidence Using Panel Data Models"  
        
    
, 
    Tourism Economics
    
, 
    22
    
, 
375-396
.
    
        
    Serrasqueiro, Z., P.M. Nunes,  J.V. Silva
    
    
, 
    (2016)
    
, 
        
            "The Influence of Age and Size on Family-Owned Firms` Financing Decisions: Empirical Evidence Using Panel Data"  
        
    
, 
    Long Range Planning
    
, 
    49
    
, 
723745
.
    
        
    Serrasqueiro, Z., P.M. Nunes, M.R. Armada
    
    
, 
    (2016)
    
, 
        
            "Capital Structure Decisions: Old Issues, New Insights From High-Tech SMEs"  
        
    
, 
    The European Journal of Finance
    
, 
    22
    
, 
59-79
.
    
2015
        
    Nunes, P.M. , Z. Serrasqueiro
    
    
, 
    (2015)
    
, 
        
            "Profitability Determinants of Portuguese Knowledge-Intensive Business Services: Empirical Evidence Using Panel Data Models"  
        
    
, 
    Applied Economics Letters
    
, 
    22
    
, 
51-56
.
    
        
    Serrasqueiro, Z., A. Caetano
    
    
, 
    (2015)
    
, 
        
            "Trade-Off Theory versus Pecking Order Theory: Capital Structure Decisions in a Peripheral Region of Portugal"  
        
    
, 
    Journal of Business Economics and Management
    
, 
    16
    
, 
445-466
.
    
2014
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2014)
    
, 
        
            "Financing Behavior of Portuguese SMEs in Hotel Industry"  
        
    
, 
    International Journal of Hospitality Management
    
, 
    43
    
, 
98-107
.
    
2013
        
    Nunes, P.M., M. Gonçalves, Z. Serrasqueiro
    
    
, 
    (2013)
    
, 
        
            "The influence of age on SMEs growth determinants: empirical evidence"  
        
    
, 
    Small Business Economics
    
, 
    40
    
, 
249-272
.
    
        
    Nunes, P.M., Z. Serrasqueiro, J. Leitão
    
    
, 
    (2013)
    
, 
        
            "Assessing the nonlinear nature of the effects of R&D intensity on growth of SMEs: a dynamic panel data approach"  
        
    
, 
    Journal of Evolutionary Economics
    
, 
    23
    
, 
97-128
.
    
2012
        
    Nunes, P.M., Z. Serrasqueiro
    
    
, 
    (2012)
    
, 
        
            "Are young SMEs survival determinants different? Empirical evidence using panel data"  
        
    
, 
    Applied Economics Letters
    
, 
    19
    
, 
849-855
.
    
        
    Nunes, P.M., Z. Serrasqueiro, J. Leitão
    
    
, 
    (2012)
    
, 
        
            "Is there a linear relationship between R&D intensity and growth? Empirical evidence of non-high-tech vs. high-tech SMEs"  
        
    
, 
    Research Policy
    
, 
    41
    
, 
36-53
.
    
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2012)
    
, 
        
            "Is age a determinant of SMEs financing decisions? Empirical evidence using panel data models"  
        
    
, 
    Entrepreurship Theory and Practice
    
, 
    36
    
, 
627-654
.
    
2011
        
    Serrasqueiro, Z., M.R. Armada, P.M. Nunes
    
    
, 
    (2011)
    
, 
        
            "Pecking order theory versus trade-off theory: are service SMEs' capital structure decisions different?"  
        
    
, 
    Service Business
    
, 
    5
    
, 
381-409
.
    
2010
        
    Nunes, P.M., Z. Serrasqueiro, J. Leitão
    
    
, 
    (2010)
    
, 
        
            "Are there non linear relationships between the profitability of Portuguese services SMEs and its specific determinants?"  
        
    
, 
    Service Industries Journal
    
, 
    30
    
, 
1313-1341
.
    
        
    Nunes, P.M., Z. Serrasqueiro, L. Mendes, T. Sequeira
    
    
, 
    (2010)
    
, 
        
            "Relationship between growth and R&D intensity in low-tech and high-tech Portuguese service SMEs"  
        
    
, 
    Journal of Service Management
    
, 
    21
    
, 
291-320
.
    
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2010)
    
, 
        
            "Non-linear relationships between growth opportunities and debt: Evidence from quoted Portuguese companies "  
        
    
, 
    Journal of Business Research
    
, 
    63
    
, 
870-878
.
    
        
    Serrasqueiro, Z., P.M. Nunes, J. Leitão, M. Armada
    
    
, 
    (2010)
    
, 
        
            "Are there non-linearities between SME growth and its determinants? A quantile approach"  
        
    
, 
    Industrial and Corporate Change
    
, 
    19
    
, 
1071-1108
.
    
2009
        
    Nunes, P.M., Z. Serrasqueiro
    
    
, 
    (2009)
    
, 
        
            "Gibrat's law: empirical test for Portuguese services industries using dynamic estimators"  
        
    
, 
    Service Industries Journal
    
, 
    29
    
, 
219-233
.
    
        
    Nunes, P.M., Z. Serrasqueiro, T. Sequeira
    
    
, 
    (2009)
    
, 
        
            "Profitability in Services Portuguese Firms: A Panel Data Approach"  
        
    
, 
    Service Industries Journal
    
, 
    29
    
, 
693-707
.
    
2008
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2008)
    
, 
        
            "Performance and size: empirical evidence from Portuguese SMEs"  
        
    
, 
    Small Business Economics
    
, 
    31
    
, 
195-217
.
    
2021
        
    Marques I., Serrasqueiro Z, Nogueira F.
    
    
, 
    (2021)
    
, 
        
            "Managers Competences in Private Hospitals for Investment Decisions during the COVID-19 Pandemic"  
        
    
, 
    Sustainability
    
, 
    13
    
.
    
        
    Sardo, F., Serrasqueiro, Z.
    
    
, 
    (2021)
    
, 
        
            "Intellectual Capital and Firms Financing Decisions in the European Context: A Panel Data Analysis"  
        
    
, 
    International Journal of Services Technology and Management
    
, 
    27
    
, 
394-420
.
    
        
    Sardo, F., Serrasqueiro, Z.
    
    
, 
    (2021)
    
, 
        
            "Intellectual Capital and High-tech Firms Financing Choices in the European Context: A Panel Data Analysis"  
        
    
, 
    Quantitative Finance and Economics
    
, 
    5
    
, 
1-18
.
    
2020
        
    Neves, E. , Silva, A., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "Capital Structure Decisions in a period of economic intervention. Empirical Evidence of Portuguese Companies with Panel Data"  
        
    
, 
    International Journal of Accounting & Information Management
    
, 
    28
    
, 
465-495
.
    
2019
        
    Ashraf, S., E. Félix, Z. Serrasqueiro
    
    
, 
    (2019)
    
, 
        
            "Do traditional financial distress prediction models predict the early warning signs of financial distress?"  
        
    
, 
    Journal of Risk and Financial Management
    
, 
    12
    
, 
    (55)
    
, 
1-17
.
    
2018
        
    Sardo, F., Z. Serrasqueiro
    
    
, 
    (2018)
    
, 
        
            "Intellectual Capital, Growth Opportunities, and Financial Performance in European Firms: Dynamic Panel Data Analysis"  
        
    
, 
    Journal of Intellectual Capital
    
, 
    19
    
, 
747-767
.
    
2017
        
    Serrasqueiro, Z.
    
    
, 
    (2017)
    
, 
        
            "Investment determinants: high-investment versus low-investment Portuguese SMEs"  
        
    
, 
    Investment Analysts Journal
    
, 
    46
    
, 
1-16
.
    
2015
        
    Serrasqueiro, Z., A. Caetano
    
    
, 
    (2015)
    
, 
        
            "Trade-Off Theory versus Pecking Order Theory: Capital Structure Decisions in a Peripheral Region of Portugal"  
        
    
, 
    Journal of Business Economics and Management
    
, 
    16
    
, 
445-466
.
    
2014
        
    Mendes, S., Z. Serrasqueiro, P. Maçãs Nunes
    
    
, 
    (2014)
    
, 
        
            "Investment Determinants of Young and Old Portuguese SMEs: A Quantile Approach"  
        
    
, 
    Business Research Quarterly
    
, 
    17
    
, 
279-291
.
    
2013
        
    Carvalho, P.G., Z. Serrasqueiro, P.M. Nunes
    
    
, 
    (2013)
    
, 
        
            "Growth determinants of small and medium-sized fitness enterprises: empirical evidence from Portugal"  
        
    
, 
    European Sport Management Quarterly
    
, 
    13
    
, 
428-449
.
    
        
    Carvalho, P.G., Z. Serrasqueiro, P.M. Nunes
    
    
, 
    (2013)
    
, 
        
            "Profitability Determinants of Fitness SMEs: Empirical Evidence from Portugal Using Panel Data"  
        
    
, 
    Amfiteatru Economic
    
, 
    15
    
, 
417-430
.
    
        
    Nunes, P.M., Z. Serrasqueiro, A. Nunes, L. Mendes
    
    
, 
    (2013)
    
, 
        
            "The relationship between companies growth and labour productivity in Portuguese SMEs: a dynamic panel data approach"  
        
    
, 
    Transformations in Business and Economics
    
, 
    12
    
, 
20-39
.
    
2012
        
    Nunes, P.M., A. Viveiros, Z. Serrasqueiro
    
    
, 
    (2012)
    
, 
        
            "Are the determinants of young SME profitability different? Empirical evidence using dynamic estimators"  
        
    
, 
    Journal of Business Economics and Management
    
, 
    13
    
, 
443-470
.
    
        
    Nunes, P.M., S. Mendes, Z. Serrasqueiro
    
    
, 
    (2012)
    
, 
        
            "SMEs investment determinants: empirical evidence using quantile approach"  
        
    
, 
    Journal of Business Economics and Management
    
, 
    13
    
, 
866-894
.
    
        
    Serrasqueiro, Z., P.M. Nunes, J.V. Silva
    
    
, 
    (2012)
    
, 
        
            "Are financing decisions of family-owned SMEs different? Empirical evidence using panel data"  
        
    
, 
    Journal of Management & Organization
    
, 
    18
    
, 
363-382
.
    
        
    Serrasqueiro, Z., S. Mendes, P.M. Nunes, M. Armada
    
    
, 
    (2012)
    
, 
        
            "Do the investment determinants of new SMEs differ from those of existing SMEs? Empirical evidence using panel data"  
        
    
, 
    Investment Analysts Journal
    
, 
    76
    
, 
51-67
.
    
2011
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2011)
    
, 
        
            "The capital structure of Portuguese SMEs: empirical evidence using dynamic panel data"  
        
    
, 
    Transformations in Business and Economics
    
, 
    10
    
, 
62-80
.
    
        
    Serrasqueiro, Z., P.M. Nunes, J. Leitão
    
    
, 
    (2011)
    
, 
        
            "Sources of finance for R&D investment: empirical evidence from Portuguese SMEs using dynamic estimators"  
        
    
, 
    Innovation: Management, Policy & Practice
    
, 
    13
    
, 
187-206
.
    
2009
        
    Serrasqueiro, Z.
    
    
, 
    (2009)
    
, 
        
            "Growth and profitability in portuguese companies: a dynamic panel data approach"  
        
    
, 
    Amfiteatru Economic
    
, 
    26
    
, 
565-573
.
    
        
    Serrasqueiro, Z., P.M. Nunes, J. Leitão
    
    
, 
    (2009)
    
, 
        
            "Companies growth and labour productivity in SMEs: empirical evidence"  
        
    
, 
    Actual Problems of Economics
    
, 
    92
    
, 
229-240
.
    
2008
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2008)
    
, 
        
            "SMEs growth: empirical evidence using dynamic panel estimators"  
        
    
, 
    Actual Problems of Economics
    
, 
    90
    
, 
40-47
.
    
        
    Serrasqueiro, Z., S. Mendes, P.M. Nunes
    
    
, 
    (2008)
    
, 
        
            "Companies investment determinants: comparison of different panel data estimators"  
        
    
, 
    South African Journal of Economic and Management Sciences
    
, 
    11
    
, 
475-493
.
    
        
    Tong, Y., Serrasqueiro, Z.
    
    
, 
    ()
    
, 
        
            "The financial impacting factors on the growth of high technology and medium-high technology SMEs: A Portuguese study"  
        
    
, 
    WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
    
.
    
2021
        
    Lussuamo, J., Zélia Serrasqueiro
    
    
, 
    (2021)
    
, 
        
            "Quais os fatores determinantes das decisões de estrutura de capital das PME´S em Cabinda - Angola?"  
        
    
, 
    32
    
.
    
2020
        
    Tong, Y., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "A study on the influence of financial factors on the growth of small and medium-sized enterprises in Portuguese high technology and medium-high technology sectors"  
        
    
, 
    WSEAS Transactions on Business and Economics
    
, 
    17
    
, 
703-716
.
    
        
    Tong, Y., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "The Influential Factors on Capital Structure: A  Study on Portuguese High Technology and Medium-High Technology Small and  Medium-Sized Enterprises"  
        
    
, 
    International Journal of Financial Research
    
, 
    11
    
, 
23-35
.
    
2019
        
    Sardo, F. and Serrasqueiro, Z.
    
    
, 
    (2019)
    
, 
        
            "On the relationship between intellectual capital and service SME survival and growth: a dynamic panel data analysis"  
        
    
, 
    International Journal of Learning and Intellectual Capital
    
, 
    16
    
, 
213-238
.
    
        
    Serrasqueiro, Z.,  Sardo, F., Félix, E.
    
    
, 
    (2019)
    
, 
        
            "The Relationship Between Investment and Internal Cash Flows in VC-Backed SMEs: Does firm size matter?"  
        
    
, 
    The Journal of Entrepreneurial Finance
    
, 
    21
    
, 
38-56
.
    
        
    Tong, Y and Serrasqueiro, Z.
    
    
, 
    (2019)
    
, 
        
            "The Impacts of Working Capital Management on Profitability: A Study on Portuguese Small and Medium-sized Enterprises in High Technology and Medium-high Technology Manufacturing Sectors"  
        
    
, 
    Journal of Applied Economic Sciences
    
, 
    14
    
, 
554-584 31p.
.
    
2016
        
    Serrasqueiro, Z., F. Matias, L. Salsa
    
    
, 
    (2016)
    
, 
        
            "Determinants of capital structure: New evidence from Portuguese small firms"  
        
    
, 
    Dos Algarves: A Multidisciplinary e-Journal
    
, 
    28
    
, 
13-28
.
    
2014
        
    Serrasqueiro, Z., M. Rogão,  P.  Maçãs Nunes
    
    
, 
    (2014)
    
, 
        
            "Capital Structure Decisions of European and U.S. Listed Firms: Is There a Unique Financial Theory?"  
        
    
, 
    Research and Applications in Economics
    
, 
    2
    
, 
1-15
.
    
2011
        
    Serrasqueiro, Z.
    
    
, 
    (2011)
    
, 
        
            "Are capital structure decisions of service SMEs different? Empirical evidence from Portugal"  
        
    
, 
    Management Research Review
    
, 
    34
    
, 
34-57
.
    
        
    Serrasqueiro, Z.
    
    
, 
    (2011)
    
, 
        
            "The influence of age and size on the relationships between debt and determinants: An empirical study on portuguese SMEs"  
        
    
, 
    International Journal of Entrepreneurship and Small Business
    
, 
    12
    
, 
139-157
.
    
2010
        
    Leitão. J., Z. Serrasqueiro, P.M. Nunes
    
    
, 
    (2010)
    
, 
        
            "Testing Gibrat´s law for listed Portuguese companies: a quantile approach"  
        
    
, 
    International Research Journal of Finance and Economics
    
, 
    37
    
, 
147-158
.
    
        
    Matias, M., Z. Serrasqueiro, C. Costa
    
    
, 
    (2010)
    
, 
        
            "Banking relationship and credit terms: empirical evidence from Portuguese small firms"  
        
    
, 
    American Journal of Social and Management Sciences
    
, 
    1
    
, 
102-123
.
    
        
    Serrasqueiro, Z.
    
    
, 
    (2010)
    
, 
        
            "Profitability determinants: differences between service and manufacturing portuguese SMEs"  
        
    
, 
    Journal of Current Issues in Finance, Business and Economics
    
, 
    3
    
, 
1-26
.
    
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2010)
    
, 
        
            "Are trade  off and pecking order theories mutually exclusive in explaining capital structure decisions?"  
        
    
, 
    African Journal of Business Management
    
, 
    4
    
, 
2216-2230
.
    
2009
        
    Serrasqueiro, Z., M. Rogão
    
    
, 
    (2009)
    
, 
        
            "Capital structure of listed portuguese companies: determinants to debt adjustment"  
        
    
, 
    Review of Accounting and Finance
    
, 
    8
    
, 
54-75
.
    
2008
        
    Nunes, P.M., Z. Serrasqueiro
    
    
, 
    (2008)
    
, 
        
            "Debt implications in durable goods monopolists"  
        
    
, 
    International Research Journal of Finance and Economics
    
, 
    18
    
, 
32-52
.
    
        
    Serrasqueiro, Z.
    
    
, 
    (2008)
    
, 
        
            "Relationship between debt and market power: empirical evidence using panel data models"  
        
    
, 
    International Research Journal of Finance and Economics
    
, 
    18
    
, 
151-158
.
    
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2008)
    
, 
        
            "Determinants of capital structure: comparison of empirical evidence from the use of different estimators"  
        
    
, 
    International Journal of Applied Economics
    
, 
    5
    
, 
14-29
.
    
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2008)
    
, 
        
            "Separation between management and ownership: implications to financial performance"  
        
    
, 
    Corporate Ownership and Control
    
, 
    6
    
, 
16-21
.
    
2007
        
    Marques, A., P.M. Nunes, Z. Serrasqueiro
    
    
, 
    (2007)
    
, 
        
            "Investment determinants of small and mediumsized companies: an empirical analysis"  
        
    
, 
    Empirical Economics Letters
    
, 
    6
    
, 
439-450
.
    
2022
        
    Marques,  L., Morais, F. and Serraqueiro, Z.
    
    
, 
    (2022)
    
, 
        
            "On The Impacts of Society Satisfaction on SMEs Capital Structure"  
        
    
, 
    First Economy of Francesco Portugal Conference, Faculty of Economics, University of Coimbra
    
, 
Coimbra, Portugal
.
    
        
    Morais, F., Marques, L., Serrasqueiro, Z.  and Ramalho, J.,
    
    
, 
    (2022)
    
, 
        
            "Zero Leverage on SMEs: Is Sustainable Development Influencing the Phenomenon? "  
        
    
, 
    Global Finance Conference, University of Braga, 20-22 June
    
, 
Braga, Portugal
.
    
        
    Neves, M., Vieira, E. and Serrasqueiro, Z.
    
    
, 
    (2022)
    
, 
        
            "The Moderating Effects of Cultural Factors on Corporate Performance"  
        
    
, 
    ICAFI 2022  International Conference on Accounting and Finance Innovation, ISCA-U. Aveiro
    
, 
Aveiro, Portugal
.
    
        
    Serrasqueiro, Z., Pinto, B. and Sardo F.
    
    
, 
    (2022)
    
, 
        
            "What Is the Role of Finance and Productivity for SME Growth? "  
        
    
, 
    Global Finance Conference, University of Braga, 20-22 June
    
, 
Braga, Portugal
.
    
2021
        
    Marques, I. C., Serrasqueiro, Z., Nogueira, F.
    
    
, 
    (2021)
    
, 
        
            "Analysis of Investment Decision Making in Private Hospitals: Qualitative Study of the Process of Investment"  
        
    
, 
    in E. Vieira, M. Madaleno, & G. Azevedo (Ed.)
    
, 
    Comparative Research on Earnings Management, Corporate Governance, and Economic Value
    
, 
IGI Global
, 
318-344
.
    
        
    Sardo, F., Serrasqueiro, Z.
    
    
, 
    (2021)
    
, 
        
            "How do manufacturing SMEs rebalance the short-term debt ratio?"  
        
    
, 
    Advances in Capital Structure Research
    
, 
    In K. Marleau
    
, 
New York
, 
Nova Science Publishers
.
    
        
    Serrasqueiro, Z., Matias, F. and Diéguez Soto , J.
    
    
, 
    (2021)
    
, 
        
            "Do Spanish unlisted family firms adjust towards target capital structure?"  
        
    
, 
    Portuguese Finance Network, 11th Finance Conference, University of Minho, Portugal
    
.
    
2020
        
    Morais, F., Serrasqueiro, Z. and Ramalho, J.
    
    
, 
    (2020)
    
, 
        
            "Zero-leverage in European firms: The role of corporate governance mechanisms on the phenomenon"  
        
    
, 
    In Farinha, L., Cruz, A. B., & Sebastião, J. R.
    
, 
    Handbook of Research on Accounting and Financial Studies
    
, 
IGI Global
, 
227-251
.
    
        
    Sardo, F., Serrasqueiro, Z.
    
    
, 
    (2020)
    
, 
        
            "The Effect of Financial Crisis on the Relationship between Intellectual Capital and Financial Performance in the European Context"  
        
    
, 
    Wei, S.
    
, 
    Financial Crises: Types, Causes and Consequences
    
, 
Nova Science Publishers
.
    
2017
        
    Ashraf, S., E.G.S. Félix, Z. Serrasqueiro
    
    
, 
    (2017)
    
, 
        
            "Comparative Study of Financial Distress Prediction Models: Evidence from Pakistan"  
        
    
, 
    Mr. Tanzil Hoque
    
, 
    Global Research Institute for Business Academics, Australia
    
, 
Barcelona
, 
Proceedings of 5th Annual Spain Business Research Conference,11 a 12 Sept 2017
.
    
2016
        
    Serrasqueiro, Z., S. Azevedo
    
    
, 
    (2016)
    
, 
        
            "The determinants of inventories investment: empirical evidence from SMEs"  
        
    
, 
    A. Tavidze
    
, 
    Progress in Economics Research, Vol. 30
    
, 
New York
, 
Nova Science Publishers
, 
117-128
.
    
2011
        
    Mendes, S., P.M. Nunes, Z. Serrasqueiro
    
    
, 
    (2011)
    
, 
        
            "Influence of economic conjuncture on SMEs investment: empirical evidence using panel data"  
        
    
, 
    Richard L. Bertrand
    
, 
    Theories and Effects of Economic Growth
    
, 
Nova Publishers
, 
143-158
.
    
2010
        
    Serrasqueiro, Z.
    
    
, 
    (2010)
    
, 
        
            "Profitability determinants: an empirical study of Portuguese SMEs"  
        
    
, 
    C.V. Karsone
    
, 
    Finance and Banking Developments
    
, 
New York
, 
Nova Science Publishers
, 
75-97
.
    
2009
        
    Serrasqueiro, Z., P.M. Nunes
    
    
, 
    (2009)
    
, 
        
            "Kibs growth: diagnosis and suggestions for public policy to promote entrepreneurship in Portugal"  
        
    
, 
    J. Leitão, R. Baptista
    
, 
    Public Policies for Fostering Entrepreneurship  A European Perspective
    
, 
New York
, 
Springer
, 
163-179
.
    
2011
        
    Serrasqueiro, Z., P.M. Nunes, J.V. Silva
    
    
, 
    (2011)
    
, 
        
            "Are Capital Structure Decisions of Family-Owned SMEs Different? Empirical Evidence From Portugal"  
        
    
, 
    2011/11
    
, 
39
.
    
2020
        
    Margarida Inês Mendes Garcia
    
    
, 
    (2020)
    
, 
        
            "Avaliação do Desempenho dos Centros Hospitalares e Unidades Locais de Saúde"  
        
    
, 
Mestrado em Gestão de Unidades de Saúde
, 
    Universidade da Beira Interior
    
.
    
2015
        
    Cristina Maria Ribeiro Joaquim
    
    
, 
    (2015)
    
, 
        
            "Performance financeira das PME Líder do distrito de Leiria: estudo do setor da construção civil"  
        
    
, 
M.Sc.(Management)
, 
    University of Beira Interior
    
.
    
        
    Nuno André Pereira Mendes
    
    
, 
    (2015)
    
, 
        
            "Critérios Utilizados pelas Empresas Portuguesas na Análise e Avaliação de Projetos de Investimento"  
        
    
, 
M.Sc. (Industrial Engineering and Management)
, 
    University of Beira Interior
    
.
    
2012
        
    Carmen H.A. Varela
    
    
, 
    (2012)
    
, 
        
            "O Financiamento do Crescimento das PME de Cabo Verde, Ilha de Santiago-Praia"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
        
    Cátia A.R. Magalhães
    
    
, 
    (2012)
    
, 
        
            "Determinantes da Estrutura de Capital das Empresas Cotadas no PSI-20"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
        
    Diana C.M. Rodrigues
    
    
, 
    (2012)
    
, 
        
            "Determinantes da Estrutura de Capital - O Caso das Empresas Cotadas Portuguesas"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
        
    Neuza M.P. Batista
    
    
, 
    (2012)
    
, 
        
            "Estrutura de Financiamento das PMEs do Distrito de Castelo Branco"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
2009
        
    Carina Gonçalves
    
    
, 
    (2009)
    
, 
        
            "O Financiamento Interno como Factor Determinante do Investimento das PME Portuguesas"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
        
    Luísa Riscado
    
    
, 
    (2009)
    
, 
        
            "Relacionamento Entre Dimensão e Sucesso do Investimento: Estudo de Caso Aplicado a Duas Empresas do Sector da Panificação Localizadas na Beira Interior"  
        
    
, 
M.Sc. (Management)
, 
    Universidade da Beira Interior
    
.
    
        
    Sónia C.P. Raposo
    
    
, 
    (2009)
    
, 
        
            "Relacionamento entre Rendibilidade e Financiamento das PME Portuguesas"  
        
    
, 
M.Sc. (Economics)
, 
    Universidade da Beira Interior
    
.
    
2007
        
    Dina B. Pereira
    
    
, 
    (2007)
    
, 
        
            "O Impacto dos Fundos Comunitários na Prestação de Serviços das Universidades às Empresas: o Caso da Universidade da Beira Interior"  
        
    
, 
M.Sc. (Management)
, 
    Universidade da Beira Interior
    
.
    
        
    Márcia C.R. Rogão
    
    
, 
    (2007)
    
, 
        
            "Determinantes da Estrutura de Capitais das Empresas Cotadas Portuguesas: Evidência Empírica Usando Modelos de Dados em Painel"  
        
    
, 
M.Sc. (Economic Science)
, 
    Universidade da Beira Interior
    
.
    
        
    Sílvia Mendes
    
    
, 
    (2007)
    
, 
        
            "Determinantes do Investimento das Empresas Portuguesas"  
        
    
, 
M.Sc. (Economic Science)
, 
    Universidade da Beira Interior
    
.
    
2006
        
    Paula C. Coelho
    
    
, 
    (2006)
    
, 
        
            "O Papel do Financiamento para o Crescimento e Desenvolvimento das PME na Beira Interior"  
        
    
, 
M.Sc. (Management)
, 
    Universidade da Beira Interior
    
.
    
        
    Sofia M.A.B. Silva
    
    
, 
    (2006)
    
, 
        
            "A Contabilidade Analítica como Ponte para a Tomada de Decisão do Planeamento Estratégico"  
        
    
, 
M.Sc. (Management)
, 
    Universidade da Beira Interior
    
.
    
2005
        
    Paulo P. Saraiva
    
    
, 
    (2005)
    
, 
        
            "Socially Responsible Investments in the Portuguese Investment Market"  
        
    
, 
M.Sc. (Economic Science)
, 
    Universidade da Beira Interior
    
.
    
2004
        
    Leonor Nunes
    
    
, 
    (2004)
    
, 
        
            "O Papel da Contabilidade na Tomada de Decisão das Pequenas Empresas"  
        
    
, 
M.Sc. (Economic Science)
, 
    Universidade da Beira Interior
    
.
    
2023
        
    Agostinho Bumba
    
    
, 
    (2023)
    
, 
        
            "Financing decisions and their influence on the growth of small and medium-sized companies in Cabinda"  
        
    
, 
PhD
, 
    Universidade da Beira Interior
    
.
    
2021
        
    Flávio Daniel Correia Morais
    
    
, 
    (2021)
    
, 
        
            "The puzzling phenomenon of zero-leverage firms: characteristics and performance of unlevered firms"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
        
    Isabel Cristina Panziera Marques
    
    
, 
    (2021)
    
, 
        
            "A decisão de investimento em hospitais privados do Brasil e Canadá sob a ótica da análise de desempenho"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
        
    João Mabiala Lussuamo
    
    
, 
    (2021)
    
, 
        
            "Fatores Determinantes da Estrutura de Capital e o nível de Endividamento das Pequenas e Médias Empresas (PME´S): Uma aplicação em Cabinda - Angola"  
        
    
, 
Ph.D. ( Gestão)
, 
    Universidade da Beira Interior
    
.
    
2019
        
    Sumaira Ashraf
    
    
, 
    (2019)
    
, 
        
            "Three essays on Financial Distress"  
        
    
, 
PhD (Management)
, 
    Universidade de Évora
    
.
    
2018
        
    Filipe Manuel Alves Sardo
    
    
, 
    (2018)
    
, 
        
            "The impact of financing decisions of intellectual capital on firms financial performance and on the gap between firms book value and market value"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
2016
        
    Alexandra M.S. Braga
    
    
, 
    (2016)
    
, 
        
            "A influência dos KIBS na inovação das empresas "  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
2014
        
    António Fernandes
    
    
, 
    (2014)
    
, 
        
            "A Importância dos Benefícios Fiscais para as Empresas da Região do Interior"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
2012
        
    Sílvia M.D. Mendes
    
    
, 
    (2012)
    
, 
        
            "Os Determinantes do Investimento das PMEs Portuguesas"  
        
    
, 
PDegree: Ph.D. (Economics)
, 
    Institution: Universidade da Beira Interior
    
.
    
2008
        
    Pedro Silva Marques
    
    
, 
    (2008)
    
, 
        
            "Persistência do Desempenho dos Fundos de Investimento Mobiliário em Portugal"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
2006
        
    Miguel Matias
    
    
, 
    (2006)
    
, 
        
            "Relacionamento Bancário no Financiamento das Micro e Pequenas Empresas em Regiões Desfavorecidas"  
        
    
, 
Ph.D. (Management)
, 
    Universidade da Beira Interior
    
.
    
2014
            
                CMU-ERI/TPE/0028/2013   
                
                    
            
            , 
                
                Duration
                01/06/2014 - 31/05/2018
                
                
            
            
        
    2011
            
                PTDC/EGE-GES/116004/2009   
                
                    
            
            , 
                
                Duration
                01/01/2011 - 31/12/2013
                
                
            
            
        
    2008
            
                CMU-PT/Etech/0036/2008   
                
                    
            
            , 
                
                Duration
                01/01/2008 - 31/12/2011
                
                
            
            
        
    2004
            
                SP3.P5   
                
                    
            
            , 
                
                Duration
                01/09/2004 - 30/06/2006
                
                
            
            
        
    