Profitability determinants of fitness SMEs: Empirical evidence from Portugal using panel data
AbstractBased on a sample of 182 small and medium-sized Portuguese fitness firms, using panel data models, this paper studies the determinants of profitability in Portuguese fitness SMEs. The empirical evidence indicates that: i) size, age, liquidity, long-term debt and government subsidies are determinants stimulating profitability in Portuguese fitness SMEs; ii) risk is a restrictive determinant of profitability in Portuguese fitness SMEs; and iii) growth opportunities, in the form of intangible assets, are neither a stimulating nor restrictive determinant of profitability in Portuguese fitness SMEs. The empirical evidence allows us to make important suggestions for political decision-makers and the owners/managers of small and medium-sized Portuguese fitness firms.
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Bibliographic InfoArticle provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.
Volume (Year): 15 (2013)
Issue (Month): 34 (June)
financial constraints; human kinetics; performance; Portugal; service SMEs;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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