Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.19/2364
Título: Banking Relationships, Managerial Ownership and Operational Performance: A Simultaneous Equations Approach in the Context of SMEs
Autor: Pinto, António
Augusto, Mário
Palavras-chave: nature of the banking relationship
managerial ownership
operational profitability
simultaneous effects
Data: Nov-2014
Editora: sciedu.ca
Resumo: This paper provides new evidence for the relationship between the nature of banking relationships, managerial ownership and operational performance in supporting reciprocal effects between these variables in the context of small and medium enterprises (SMEs). A simultaneous equations model was applied to a sample of 4,163 Portuguese SMEs and to cross-section data. Evidence was found that these attributes provide simultaneous relations among themselves. In particular, on the one hand, our results support a negative effect of the number of banks with which the company works and managerial ownership on operational performance. On the other hand, the number of banks with which the company maintains a relationship is positively conditioned by operational performance and negatively by managerial ownership. In turn, managerial ownership is negatively conditioned by operational performance and the nature of the banking relationship.
Peer review: yes
URI: http://hdl.handle.net/10400.19/2364
DOI: 10.5430/ijfr.v6n1p22
Aparece nas colecções:ESTGV - DG - Artigos publicados em revista científica



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