Profitability determinants of fitness SMEs: Empirical evidence from Portugal using panel data

Pedro Guedes de Carvalho, Zelia Serrasqueiro () and Paulo Maças Nunes ()
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Pedro Guedes de Carvalho: Sport Sciences Department, Beira Interior University and CIDESD Research Center, UTAD University, Portugal
Paulo Maças Nunes: Management and Economics Department, Beira Interior University and CEFAGE Research Center, Évora University, Portugal

The AMFITEATRU ECONOMIC journal, 2013, vol. 15, issue 34, 417-430

Abstract: Based 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.

Keywords: financial constraints; human kinetics; performance; Portugal; service SMEs (search for similar items in EconPapers)
JEL-codes: C23 G32 L25 L83 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:15:y:2013:i:34:p:417-430

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