Análisis de la situación financiera y de rentabilidad de la empresa familiar leridana

Abstract

In this work the financial structure of family businesses in the province of Lleida is analysed in order to find out the composition and the conditions of their debt. Moreover, the analysis is undertaken on a comparative level with non-family businesses in order to identify the significant differences between both groups. Similarly, the study gains depth by differentiating between business size and the field of activity with the aim of improving understanding of the differences encountered. A descriptive study is carried out based on a representative sample of 2820 businesses taken from the SABI (Balance Sheet Analysis System) database, for the year 2009. The most relevant results obtained show that, on the one hand, the Lleida family businesses is more capitalised than non-family businesses. However, they have greater financial debt than non-family businesses; especially with short-term maturity. The causes of these differences are mediumsized companies that have larger short-term financial debt. On the other hand, the overall efficiency (economic and financial) of mediumsized family businesses is lower than that of non-family businesses. This, however, is only true for small and micro family businesses that consider how their lower economic efficiency, greater financial debt and an excessively high cost of debt make getting into debt counterproductive.