The financial structure highlights the origin of the capital needed to finance the activity. Basically, it indicates the
extent to which the company opts for equity and debt financing. It is difficult or even impossible to identify an optimal
capital structure that is efficient for all firms in all fields of activity. Thus, the main objective of this paper is to identify
the influence of the financial structure on the value of companies in the tourism industry. The value of a company is
reflected by the efficiency of the activity it carries out. To the extent that it manages to obtain a higher profit, increase
the value of the patrimony or use the resources at its disposal more efficiently, its value can be considered to increase.
Another objective is to identify if during the pandemic the companies in the tourism industry changed their financial
structure and also if during this difficult period there was a change in the influence that the financial structure has on
the value of the company. The study carried out on the basis of information on 20 companies in the tourism industry,
for the period 2008-2019 and 2020-2022, regarding the correlation between total liabilities, equity, leverage and the
EPS (net profit/share) indicator, highlighted an impact moderate of the financial structure on the value of the company
during the pandemic period
