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Abstract(s)
Este estudo tem como objetivo analisar os fatores determinantes da rentabilidade das empresas portuguesas e comparar a rentabilidade das empresas familiares com as empresas não familiares, no contexto dos anos da pandemia Covid-19. Sendo assim, foi recolhida informação da base de dados SABI referente a 5279 empresas portuguesas não cotadas em bolsa do setor da indústria transformadora, para o período compreendido entre 2017 e 2021. A rentabilidade das empresas foi medida pelo ROA (return on assets) e recorreu-se a dados em painel de modelos de regressão linear múltipla, como o modelo OLS e o modelo de Efeitos Fixos, para estimar os resultados. Os resultados obtidos sugerem que, para este período, as empresas familiares apresentam uma rentabilidade superior à das empresas não familiares. Verificou-se que a dimensão e o crescimento do volume de negócios têm uma relação positiva com a rentabilidade e que, em contrapartida, o endividamento, a idade e a crise influenciam negativamente a rentabilidade. Por fim, constatou-se que o impacto económico do Covid-19 no ROA foi maior nas empresas familiares do que nas empresas não familiares.
This study aims to analyze the determinant factors of the performance of Portuguese companies and compare the performance of family firms with non-family firms, within the context of the Covid-19 pandemic. To achieve this, it was collected information from the SABI database comprising 5279 non-listed Portuguese firms belonging to the manufacturing sector, for the period between 2017 and 2021. Performance was measured using ROA (return on assets) and it was utilized panel data methodology along with multiple linear regression models, such as the OLS model and the Fixed Effects model, to estimate the results. The findings suggest that, for this period, family firms perform better than non-family firms. It was found that the size and growth of turnover have a positive relation with performance. On the contrary, the debt, age and crisis influence performance negatively. Finally, we verify that the economic impact of Covid-19 on ROA was greater on family firms than on non-family firms.
This study aims to analyze the determinant factors of the performance of Portuguese companies and compare the performance of family firms with non-family firms, within the context of the Covid-19 pandemic. To achieve this, it was collected information from the SABI database comprising 5279 non-listed Portuguese firms belonging to the manufacturing sector, for the period between 2017 and 2021. Performance was measured using ROA (return on assets) and it was utilized panel data methodology along with multiple linear regression models, such as the OLS model and the Fixed Effects model, to estimate the results. The findings suggest that, for this period, family firms perform better than non-family firms. It was found that the size and growth of turnover have a positive relation with performance. On the contrary, the debt, age and crisis influence performance negatively. Finally, we verify that the economic impact of Covid-19 on ROA was greater on family firms than on non-family firms.
Description
Keywords
Empresas familiares e não familiares Rentabilidade Covid-19 Family and non-family firms Performance