| Resumo: | The main objective of the dissertation is to understand the determinants related with the choice of corporate debt maturity. In general, some countries were affected by the financial crisis of 2008 and different measures were applied in order to overcome the situation. This fact affected their decisions of debt maturity, reason because it will be analyzed whether these choices are, in accordance with the existing theories proposed by the financial literature. The present study involves a sample with 3.618.795 listed and unlisted firms during the period from 2007 to 2015. The methodology is the panel data and we decided to use different regression techniques, such as OLS and Fixed Effects, evaluating the changes in the determinants of debt maturity of each model. The variables implicit in our analysis are divided in variables that have an impact on firms and countries. We found that, considering the empirical studies present in the literature review, the firm variables have a significant contribution to the debt maturity. Only taxes, in one of the models presented different values from those expected and, although significant, they are low. For the country variables, we verified that they have a small impact on the maturity of the debt in the period of analysis, such as the inflation rate and the size of the country's banking system. It should be noted because of the financial crisis occurred in 2008, in some variables there was an impact on the fluctuation of the values. In this way, taking into account the results obtained, it can be verified that the maturity of the firms' debt is determined both by the characteristics of the firms and of each country.
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