Affiliation:
1. Beira Interior University and CEFAGE Research Center, Universidade da Beira Interior, Estrada do Sineiro, Ernesto Cruz-Polo IV, 6200-209 Covilhã, Portugal
2. Universidade da Beira Interior and Banco BPI (Banco Português de Investimento)
Abstract
Using two step method, namely probit regressions and dynamic estimators, and on the basis of two sub-samples of Portuguese SMEs: 1) 495 young SMEs; and 2) 1350 old SMEs, this study seeks to verify if age is a important factor of the relationships between determinants and profitability. Age, size, liquidity and long-term debt are of greater relative importance for the increased profitability, while risk is of greater relative importance for diminished profitability of young SMEs, compared to the case of old SMEs. R&D expenditure is of greater relative importance for increased profitability in old SMEs. Additionally, old SMEs have more persistent profitability than do young SMEs.
Publisher
Vilnius Gediminas Technical University
Subject
Economics and Econometrics,Business, Management and Accounting (miscellaneous)
Cited by
32 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献