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| Tekijä: | Serrasquiero, Z.S. Nunes, P.M. |
| Otsikko: | Performance and size: Empirical evidence from Portuguese SMEs |
| Lehti: | Small business economics
2008 : AUG, VOL. 31:2, p. 195-217 |
| Asiasana: | small and medium-sized enterprises (smes) small business company performance companies by size economies of scale Portugal |
| Kieli: | eng |
| Tiivistelmä: | This study explores the relationship (here as: r-ship) btw. company size and performance (henceforth as: perf.) for small and medium-sized companies (SMEs) in Portugal. Using dynamic panel estimators, it is concluded that perf. is positively related to size. This r-ship suggests the greater relevance of scale effects, diversification and the greater ability of larger companies to cope with market changes. In addition, the empirical results show that perf. is persistent, not showing discontinuity, suggesting Portuguese SMEs to be relatively successful in coping with possible scenarios of aggressive competition. Debt and level of fixed assets influence perf. negatively, and separation of management and ownership influence perf. positively. Risk, liquidity and ownership control are not relevant in explaining the perf. of Portuguese SMEs. |
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