文章基本信息

标题：Financial Risk Analysis of Portuguese Textile and Tourism Companies
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作者：José Manuel Pereira ; Mário Basto ; Amélia Ferreira-da-Silva 等
期刊名称：Mediterranean Journal of Social Sciences
电子版ISSN：2039-2117
出版年度：2015
卷号：6
期号：3
页码：471-477
DOI：10.5901/mjss.2015.v6n3p471
出版社：Mediterranean Center of Social and Educational Research (MCSER)
摘要：Textile and tourism sectors are two important industries in the Portuguese economy. However, its high exposure to both internal and international economic volatility make the companies operating in these economic sectors particularly vulnerable to economic crises, such as the ones which have been impacting Portugal and the European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sectors, during the period 2005-2009. The findings suggest that age has a major impact on the risk of failure, rather than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and ultimately depends on the age of the company.
关键词：Age;size;business failure;textiles and tourism.