<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2182-8458</journal-id>
<journal-title><![CDATA[Tourism & Management Studies]]></journal-title>
<abbrev-journal-title><![CDATA[TMStudies]]></abbrev-journal-title>
<issn>2182-8458</issn>
<publisher>
<publisher-name><![CDATA[Escola Superior de Gestão, Hotelaria e Turismo da Universidade do Algarve]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2182-84582021000300063</article-id>
<article-id pub-id-type="doi">10.18089/tms.2021.170305</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Determinants of Portuguese banks' profitability: an update]]></article-title>
<article-title xml:lang="pt"><![CDATA[Determinantes da rentabilidade dos bancos portugueses: uma atualização]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pires]]></surname>
<given-names><![CDATA[Clara]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Basílio]]></surname>
<given-names><![CDATA[Maria]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Borralho]]></surname>
<given-names><![CDATA[Carlos]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Politécnico de Beja  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Portugal</country>
</aff>
<pub-date pub-type="pub">
<day>30</day>
<month>09</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>30</day>
<month>09</month>
<year>2021</year>
</pub-date>
<volume>17</volume>
<numero>3</numero>
<fpage>63</fpage>
<lpage>70</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.pt/scielo.php?script=sci_arttext&amp;pid=S2182-84582021000300063&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.pt/scielo.php?script=sci_abstract&amp;pid=S2182-84582021000300063&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.pt/scielo.php?script=sci_pdf&amp;pid=S2182-84582021000300063&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract In this study, we assess the main determinants of banks' profitability in Portugal over the period 2015-2018. We divide the factors that can influence bank profitability into several groups: management quality, credit quality, capital adequacy, liquidity (internal bank factors), and GDP growth (an external factor). The panel dataset is composed of annual report data for the 18 major banks operating in Portugal, representing about 98% of the Portuguese banking product. Profitability has been a persistent challenge for banks since the global financial crisis. Moreover, the Portuguese banking system had been facing several structural problems, which makes this topic particularly relevant. The profitability proxy used is the return on equity (ROE). The empirical strategy followed was pooled OLS. Variables relevant for explaining Portuguese banks' profitability are capital adequacy, liquidity and credit risk. As expected, the results show that capital adequacy (TIER 1) and credit quality (CVCT) have a negative and significant impact on banks' profitability, whereas liquidity (RAL) has a positive impact.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este estudo avalia os principais determinantes da rendibilidade dos bancos, em Portugal, no período 2015-2018. Dividimos os fatores que podem influenciar a rentabilidade dos bancos em dois grupos, nomeadamente, qualidade da gestão, qualidade do crédito, adequação do capital, liquidez (fatores internos do banco), bem como crescimento do PIB (fator externo). O painel de dados é composto por +relatórios de 18 bancos a operar em Portugal, o que representa cerca de 98% do produto bancário português. A rentabilidade bancária tem sido um desafio persistente desde a crise financeiraglobal. Acresce que o sistema bancário português tem enfrentado diversos problemas estruturais, o que torna este tema particularmente relevante. A medida de rentabilidade aqui explorada é a rendibilidade dos capitais próprios. A estratégia empírica seguida baseou-se no MMQ com dados agrupados. As variáveis relevantes são a adequação do capital, a liquidez e o risco de crédito. Como esperado, os resultados mostram que a adequação de capital (TIER 1) e a qualidade de crédito (CVCT) têm um impacto negativo e significativo na rentabilidade dos bancos, enquanto a liquidez (RAL) tem um impacto positivo.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Banks]]></kwd>
<kwd lng="en"><![CDATA[profitability]]></kwd>
<kwd lng="en"><![CDATA[pooled OLS]]></kwd>
<kwd lng="pt"><![CDATA[Bancos]]></kwd>
<kwd lng="pt"><![CDATA[rentabilidade]]></kwd>
<kwd lng="pt"><![CDATA[MMQ com dados agrupados]]></kwd>
</kwd-group>
</article-meta>
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