BRUSCA, Isabel    OLMO, Jorge. The commercial debt of spanish town halls: an empirical analysis. []. , 28, 70, pp.129-146. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v28n70.74453.

The principle of sustainability of the commercial debt establishes a new mechanism for budgetary control. In this context, the aim of this paper is to assess the variables that best characterize liquidity of Spanish municipalities. Supplier Payment Plan (Plan de Pago a Proveedores in Spanish) and the average payment period of town halls are the main point of reference. By means of a linear discriminant analysis and a linear regression this study shows that the execution of gross savings, the collection period and current expenditures are related to the commercial debt. This research contributes to the study of explanatory variables for short-term financial situation.

: Local entities; liquidity; average payment period; Supplier Payment Plan; sustainability of commercial debt.

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