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The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism

2022-02-01Journal article Open access
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dc.contributor.authorSantos, Eleonora
dc.contributor.authorLisboa, Inês
dc.contributor.authorEugénio, Teresa
dc.date.accessioned2022-02-02T12:15:00Z
dc.date.available2022-02-02T12:15:00Z
dc.date.issued2022-02-01
dc.description.abstractThis article analyses the financial performance of family versus non-family firms operating in nautical tourism, in 2015–2019. The sample of 39 Portuguese companies was collected from the SABI database. We use a regression of financial performance, measured by three alternative proxies: return on assets, return on equity and operating profit margin, on liquidity, leverage, turnover of assets, asset structure, company size and age. The regressions are performed across Nuts II regions on mainland and across types of firms (family and non-family). The results uncover several patterns. First, family firms are larger and older, make higher investments and therefore are less liquid. Second, liquidity, leverage and investment in tangible assets impact negatively and significantly the corporate financial performance, while the turnover of assets, size and age impacts positively and significantly. Third, the sign of the impacts depends on the measure of performance. Finally, firms in the Northern region show superior performance, which can be explained by the higher share of family firms. These findings can serve as a roadmap for managers when selecting strategies to improve performance. Additionally, they will contribute to the understanding of tourism destination dynamics and competitiveness.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationSantos, E.; Lisboa, I.; Eugénio, T. The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism. Sustainability 2022, 14, 1693. https://doi.org/10.3390/su14031693pt_PT
dc.identifier.doihttps://doi.org/10.3390/su14031693pt_PT
dc.identifier.urihttp://hdl.handle.net/10400.8/6590
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherMDPIpt_PT
dc.relationCEECINST/00051/2018pt_PT
dc.relationCentre of Applied Research in Management and Economics
dc.relation.ispartofseries3;
dc.relation.publisherversionhttps://www.mdpi.com/2071-1050/14/3/1693pt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectCorporate performancept_PT
dc.subjectFamily firmspt_PT
dc.subjectNautical tourismpt_PT
dc.titleThe Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourismpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCentre of Applied Research in Management and Economics
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04928%2F2020/PT
oaire.citation.endPage14pt_PT
oaire.citation.startPage1pt_PT
oaire.citation.titleSustainabilitypt_PT
oaire.citation.volume14pt_PT
oaire.fundingStream6817 - DCRRNI ID
person.familyNameSantos
person.familyNameLisboa
person.familyNameEugénio
person.givenNameEleonora
person.givenNameInês
person.givenNameTeresa
person.identifier2201979
person.identifier.ciencia-id321B-D068-1CB4
person.identifier.ciencia-id5510-48F2-54DF
person.identifier.ciencia-id1F17-50A3-BEE2
person.identifier.orcid0000-0003-4693-0804
person.identifier.orcid0000-0003-2802-2589
person.identifier.orcid0000-0003-1040-3164
person.identifier.scopus-author-id56903606100
person.identifier.scopus-author-id55582040700
person.identifier.scopus-author-id54079668000
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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