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Advisor(s)
Abstract(s)
A indústria do turismo tem sido um dos principais dinamizadores do desenvolvimento da economia portuguesa nos últimos anos. Neste âmbito, nomeadamente no setor hoteleiro, os investimentos nos
ativos de suporte à sua atividade, ou seja, na construção do edifício base e nos equipamentos associados ao desenvolvimento da sua atividade operacional tenderão a ser significativos e com recuperação do valor do investimento a muito longo prazo. Dado que os investimentos em ativos reais são potenciais geradores de riqueza nas empresas, procura-se perceber o comportamento das empresas nesta indústria. O objetivo principal do estudo consiste em verificar que fatores influenciam o investimento nas empresas portuguesas do setor hoteleiro. Assim, no estudo empírico e no sentido de aferir os fatores que influenciam o investimento nas empresas do setor hoteleiro em Portugal, serão utilizadas informações recolhidas da base de dados Sistema de Análise de Balanços Ibérico (SABI), do Instituto Nacional de Estatística e do Registo Nacional de Turismo (RNT) e serão desenvolvidos modelos de regressão linear. Os resultados deste estudo permitem concluir que o investimento nas empresas do setor hoteleiro português é afetado negativamente pelos fluxos de caixa, idade, dimensão, variedade de serviços, propriedade e crises económicas, e positivamente pela dívida, risco de negócio e crescimento de vendas.
The tourism industry has been one of the main players in the development of the Portuguese economy in recent years. In this context, particularly in the hotel sector, investments in assets to support its activity, i.e. in the construction of the base building and in the equipment associated with the development of its operational activity will tend to be significant and with recovery of the value of the investment in the very long term. Given that investments in real assets are potential generators of wealth in companies, we seek to understand the behavior of companies in this industry. The main objective of the study is to verify which factors influence investment in Portuguese companies in the hotel sector. Thus, in the empirical study and in the sense of assessing the factors that influence investment in companies in the hotel sector in Portugal, information collected from the Iberian Balance Sheet Analysis System (SABI) database of the National Institute of Statistics and the National Tourism Registry (RNT) will be used and linear regression models will be developed. The results of this study allow us to conclude that investment in companies in the hotel sector Portuguese is negatively affected by cash flows, age, size, variety of services, property and economic crises, and positively by debt, business risk and sales growth.
The tourism industry has been one of the main players in the development of the Portuguese economy in recent years. In this context, particularly in the hotel sector, investments in assets to support its activity, i.e. in the construction of the base building and in the equipment associated with the development of its operational activity will tend to be significant and with recovery of the value of the investment in the very long term. Given that investments in real assets are potential generators of wealth in companies, we seek to understand the behavior of companies in this industry. The main objective of the study is to verify which factors influence investment in Portuguese companies in the hotel sector. Thus, in the empirical study and in the sense of assessing the factors that influence investment in companies in the hotel sector in Portugal, information collected from the Iberian Balance Sheet Analysis System (SABI) database of the National Institute of Statistics and the National Tourism Registry (RNT) will be used and linear regression models will be developed. The results of this study allow us to conclude that investment in companies in the hotel sector Portuguese is negatively affected by cash flows, age, size, variety of services, property and economic crises, and positively by debt, business risk and sales growth.
Description
Mestrado em IPB-ESTG e ASSOCIAÇÃO DE POLITÉCNICOS DO NORTE (APNOR): Instituto Politécnico do Cávado e do Ave e Instituto Politécnico de Viana do Castelo
Keywords
Investimento Hotéis Dívida Rentabilidade