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Growth and Profitability in Portuguese Companies: a Dynamic Panel Data Approach

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  • Zélia Serrasqueiro

    ()
    (Management and Economics Department, Beira Interior University, Covilhã, Portugal and CEFAGE Research Center Évora University, Portugal)

Abstract

In this article, using dynamic panel estimators, we test empirically the relationship between the growth of Portuguese companies and their profitability. The empirical evidence obtained indicates that growth in Portuguese companies means increased profitability. Growth in Portuguese companies is a catalysing factor of profitability, with the motivational effect on employees, given the expectation of greater gains in the future, being more relevant than the possible negative effects of growth on profitability, as a consequence of the need for new more formal labour relations in companies.

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Bibliographic Info

Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

Volume (Year): 11 (2009)
Issue (Month): 26 (June)
Pages: 565-573

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Handle: RePEc:aes:amfeco:v:11:y:2009:i:26:p:565-574

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Related research

Keywords: company growth; dynamic estimators; profitability;

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  1. John Goddard & Manouche Tavakoli & John Wilson, 2005. "Determinants of profitability in European manufacturing and services: evidence from a dynamic panel model," Applied Financial Economics, Taylor & Francis Journals, vol. 15(18), pages 1269-1282.
  2. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
  3. Bruno, Giovanni S.F., 2005. "Approximating the bias of the LSDV estimator for dynamic unbalanced panel data models," Economics Letters, Elsevier, vol. 87(3), pages 361-366, June.
  4. Adelina Gschwandtner, 2005. "Profit persistence in the 'very' long run: evidence from survivors and exiters," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 793-806.
  5. M. Adams & M. Buckle, 2003. "The determinants of corporate financial performance in the Bermuda insurance market," Applied Financial Economics, Taylor & Francis Journals, vol. 13(2), pages 133-143.
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Cited by:
  1. Tibor Lalinsky, 2013. "Firm competitiveness determinants: results of a panel data analysis," Working and Discussion Papers WP 4/2013, Research Department, National Bank of Slovakia.
  2. Vera Mota & Paulo Maçãs Nunes & António Fernandes de Matos, 2010. "New Construction and Reconstruction: Impact on Growth of Sub-Regions of Mainland Portugal," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 169-176, February.

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