RT Journal Article
T1 Evaluation of the performance of Spanish family businesses portfolios
A1 Otero González, Luis
A1 Querentes Hermida, Raquel Esther
A1 Durán Santomil, Pablo
A1 López Penabad, Celia
K1 Family businesses
K1 Performance
K1 Risk
K1 Impact of sustainability
K1 Quality factor
AB This study aims to assess the performance and risk of portfolios comprised of Spanish family businesses (FBs) when sustainability and quality factors are considered. To achieve this objective, several portfolios were considered, and their results were compared against the benchmark, estimating several GARCH models and the extended six-factor model of Fama and French for the period 2018-2023. The results demonstrated that investing in FB provides a higher return than the index, and that the portfolio that considers quality is the one that presents a better performance. However, the inclusion of sustainability negatively impacts the portfolio's performance. These results are relevant for investors, such as managers interested in creating portfolios or developing attractive financial products in terms of risk and return.
PB Emerald
SN 2043-6238
YR 2024
FD 2024
LK https://hdl.handle.net/10347/39951
UL https://hdl.handle.net/10347/39951
LA eng
NO Otero González, L., Querentes Hermida, R.E., Durán Santomil, P. and López Penabad, C. (2024), "Evaluation of the performance of Spanish family businesses portfolios", Journal of Family Business Management, Vol. 14 No. 6, pp. 1295-1315. https://doi.org/10.1108/JFBM-02-2024-0036
NO This is the manuscript of an article that has been accepted for publication
NO This study was funded by the Galician Regional Government (No: ED431C 2020/18) and co-funded by the European Regional Development Fund (ERDF/FEDER) for the period 2020–2023; the Ministry of Science, Innovation and Universities (MCIU); the Spanish State Research Agency (AEI) and the European Regional Development Fund (RTI2018-100702-B-I00 MCIU/AEI/FEDER, UE).
DS Minerva
RD 30 abr 2026