Family-owned and non family-owned SMEs: empirical evidence of survival determinants

Authors

  • Paulo Maçãs Nunes Management and Economics Department, University of Beira Interior and CEFAGE Research Center, Évora University. Portugal.
  • Zélia Serrasqueiro Management and Economics Department, University of Beira Interior and CEFAGE Research Center, Évora University. Portugal.
  • Jacinto Vidigal da Silva Management Department, Évora University and CEFAGE Research Center, Évora University. Portugal.

DOI:

https://doi.org/10.17811/ebl.3.1.2014.68-76

Abstract

Based on two samples: 1) 1589 family-owned SMEs; and 2) 485 non family-owned SMEs, using probit regressions this paper studies the are significant differences in the survival determinants of these two types of SMEs. The empirical evidence obtained lets us conclude there context of family-owned SMEs, size, age, R&D expenditure are neither positive nor restrictive determinants of survival, with cash flow and labour productivity being positive determinants of survival, and debt, interest paid and risk are restrictive determinants of survival. In the case of non family-owned SMEs, size, age, cash flow, debt and R&D expenditure are positive determinants of survival, with interest paid, risk and labour productivity being neither positive nor restrictive determinants of survival.

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Published

20-05-2014

How to Cite

Maçãs Nunes, P., Serrasqueiro, Z., & Vidigal da Silva, J. (2014). Family-owned and non family-owned SMEs: empirical evidence of survival determinants. Economics and Business Letters, 3(1), 68–76. https://doi.org/10.17811/ebl.3.1.2014.68-76

Issue

Vol. 3 No. 1 (2014): March - Special Issue: Modelling Issues in Applied Efficiency Analysis

Section

Articles

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