{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,9]],"date-time":"2026-04-09T21:16:52Z","timestamp":1775769412374,"version":"3.50.1"},"reference-count":116,"publisher":"Emerald","issue":"7","license":[{"start":{"date-parts":[[2019,6,18]],"date-time":"2019-06-18T00:00:00Z","timestamp":1560816000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJPPM"],"published-print":{"date-parts":[[2019,9,2]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>The purpose of this paper is to analyse the determinants of Portuguese firms\u2019 performance.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>To achieve this aim, the authors used data from 37 non-financial firms in the period between 2010 and 2015. Three dependent variables were tested and the estimation of the model using the Generalised Method of Moments shows that internal, external and institutional factors are important to explain the performance of firms listed in Euronext Lisbon.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>The determinants of firm performance vary depending on the variable used to measure the performance. Specifically, the results show that when the authors use a market variable of performance, the firm-specific variables are not so important to explain performance. The macroeconomic factors, including the investor\u2019s sentiment and insider ownership, more effectively explain the firm\u2019s performance. The evidence suggests that the determinants of firm performance change according to the way in which different stakeholders appreciate firm performance.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>The main contribution of such approach is to show that internal and external factors influence performance measures in distinct ways, thus helping managers who are expected to make decisions according to the investors\u2019 expectations. It provides initial guidelines for policy makers to understand how to improve the performance of their firms using firm-specific factors. Additionally, this work also demonstrates that the firm\u2019s characteristics, macroeconomics and governance factors could affect the Portuguese firms\u2019 performance, conveying a valuable contribution for investors.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ijppm-06-2018-0210","type":"journal-article","created":{"date-parts":[[2019,6,18]],"date-time":"2019-06-18T09:19:06Z","timestamp":1560849546000},"page":"1323-1342","source":"Crossref","is-referenced-by-count":71,"title":["Determinants of Portuguese firms\u2019 financial performance: panel data evidence"],"prefix":"10.1108","volume":"68","author":[{"given":"Elisabete Sim\u00f5es","family":"Vieira","sequence":"first","affiliation":[]},{"given":"Maria Elisabete","family":"Neves","sequence":"additional","affiliation":[]},{"given":"Ant\u00f3nio Gomes","family":"Dias","sequence":"additional","affiliation":[]}],"member":"140","published-online":{"date-parts":[[2019,6,18]]},"reference":[{"key":"key2021101314245199500_ref001","unstructured":"Adami, R., Gough, O., Muradoglu, G. and Sivaprasad, S. 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