This study aims to understand how specific variables of companies, corporate governance and macroeconomic factors influence the indebtedness of Portuguese hospitals, a key sector in the economy.
To test the hypotheses, data from 256 Portuguese hospitals were used, in the period between 2015 and 2021. The models were estimated using the panel data methodology, specifically using the estimation method generalized method of moments (GMM) system, from Arellano and Bover (1995) and Blundell and Bond (1998).
Using three measures of indebtedness to assess whether the determinants vary according to debt maturity, the results show differences in the sign and significance of the variables determining total indebtedness across short, medium and long-term debt.
This article appears to be original and significant as it provides detailed awareness of debt levels and their management, particularly in the context of ongoing debates about Portugal’s national health system.
