“…Among the key determinants used in several national and international studies, the following ones should be mentioned: asset tangibility, organization size, profitability/returns, growth, singularity, non-debt tax benefits, taxation, and risk (Cavalcanti, Castro, Avelar, Lazo & Mól, 2016;Correa, Basso, & Nakamura, 2013;Forte, Barros, & Nakamura, 2013;Frank & Goyal, 2009;Perobelli & Fama, 2002;Pohlmann & Iudícibus, 2010;Rajan & Zingales, 1995;Titman & Wessels, 1988).…”