Fatores determinantes da rentabilidade

: empresas familiares vs empresas não familiares

Abstract

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.

Date of Award	18 Jul 2024
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	José Miguel Pereira dos Santos de Oliveira (Supervisor)