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Publication
A importância do capital de risco em Portugal
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 1.93 MB | Adobe PDF |
Abstract(s)
O Capital de Risco (CR) é conhecido como uma forma de investimento diferente das outras, porque o fator contribuidor deste investimento não se limita à parte financeira, mas também à parte estratégica da empresa investida. O financiamento bancário é a forma de financiamento mais utilizada em Portugal, no entanto, as pequenas e médias empresas (PME), a principal fonte de emprego em Portugal, possuem dificuldades no acesso, bem como a outras formas de investimentos devido às suas estruturas. É por isso que as pequenas e médias empresas utilizam mais o Capital de Risco em momentos como o início da atividade produtiva e a expansão dos negócios. Ainda assim, o desenvolvimento da atividade de CR em Portugal não está tão avançado como em outros países no que diz respeito à sua relevância na economia.
O objetivo deste trabalho é demonstrar que o Capital de Risco ainda hoje detém uma posição significativa na economia portuguesa e apresenta vários pontos relevantes.
Foram recolhidos vários dados sobre diferentes fatores económicos, em sites como o do Banco de Portugal e o da Pordata, e, através do programa SPSS tentou-se criar um modelo que explica a variação do investimento de CR. Foram determinados alguns modelos, tendo-se decidido pelo modelo que é constituído pelas seguintes variáveis independentes: Rendibilidade do ativo, Taxa de juro, Número de empresas com idade inferior a 5 anos, Despesas de Inovação e Exportações.
O estudo permitiu inferir que o Capital de Risco continua a contribuir para a economia portuguesa, mas é necessário proceder-se a algumas alterações para que se verifique um aumento neste tipo de investimento.
ABSTRACT: Private Equity and Venture Capital investiment (PE/VC) is known as a different form of investment from others, because the contributing factor of this investment is not limited to the financial part, but also to the strategic part of the invested company. Bank financing is the most used form of financing in Portugal, however, small and medium-sized enterprises (SME), the main source of employment in Portugal, have difficulties in accessing, as well as other forms of investment due to their structures. That is why small and medium-sized companies use Venture Capital more at times such as the beginning of production activity and business expansion. Even so, the development of PE/VC activity in Portugal is not as advanced as in other countries in terms of its relevance to the economy. The objective of this work is to demonstrate that Private Equity and Venture Capital still holds a significant position in the Portuguese economy and presents several relevant points. Various data on different economic factors were collected on sites such as those of Banco de Portugal and Pordata, and, through the SPSS program, an attempt was made to create a model that explains the variation in PE/VC investment. Some models were determined, having decided on the model that consists of the following independent variables: Return on assets, Interest rate, Number of companies under 5 years of age, Expenditure on Innovation and Exports. The study allowed us to infer that Venture Capital continues to contribute to the Portuguese economy, but it is necessary to make some changes so that there is an increase in this type of investment.
ABSTRACT: Private Equity and Venture Capital investiment (PE/VC) is known as a different form of investment from others, because the contributing factor of this investment is not limited to the financial part, but also to the strategic part of the invested company. Bank financing is the most used form of financing in Portugal, however, small and medium-sized enterprises (SME), the main source of employment in Portugal, have difficulties in accessing, as well as other forms of investment due to their structures. That is why small and medium-sized companies use Venture Capital more at times such as the beginning of production activity and business expansion. Even so, the development of PE/VC activity in Portugal is not as advanced as in other countries in terms of its relevance to the economy. The objective of this work is to demonstrate that Private Equity and Venture Capital still holds a significant position in the Portuguese economy and presents several relevant points. Various data on different economic factors were collected on sites such as those of Banco de Portugal and Pordata, and, through the SPSS program, an attempt was made to create a model that explains the variation in PE/VC investment. Some models were determined, having decided on the model that consists of the following independent variables: Return on assets, Interest rate, Number of companies under 5 years of age, Expenditure on Innovation and Exports. The study allowed us to infer that Venture Capital continues to contribute to the Portuguese economy, but it is necessary to make some changes so that there is an increase in this type of investment.
Description
Dissertação de Mestrado, Ciências Económicas e Empresariais, 24 de fevereiro de 2023, Universidade dos Açores.
Keywords
Capital de Risco PME Emprego Portugal
Citation
Pacheco, Gonçalo Viveiros Brandão. (2022). "A importância do capital de risco em Portugal". 104 p. (Dissertação de Mestrado em Ciências Económicas e Empresariais). Ponta Delgada: Universidade dos Açores, 2022. Disponível em http://hdl.handle.net/10400.3/6709