<?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>0121-5051</journal-id>
<journal-title><![CDATA[Innovar]]></journal-title>
<abbrev-journal-title><![CDATA[Innovar]]></abbrev-journal-title>
<issn>0121-5051</issn>
<publisher>
<publisher-name><![CDATA[Facultad de Ciencias Económicas. Universidad Nacional de Colombia.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-50512019000100143</article-id>
<article-id pub-id-type="doi">10.15446/innovar.v29n71.76401</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[Risco de Falência de pme: evidencia no setor da construção em Portugal]]></article-title>
<article-title xml:lang="es"><![CDATA[RIESGO DE QUIEBRA DE LAS PYME: EVIDENCIA EN EL SECTOR DE LA CONSTRUCCIÓN EN PORTUGAL]]></article-title>
<article-title xml:lang="en"><![CDATA[BANKRUPTCY RISK OF SMES: EVIDENCE FROM THE CONSTRUCTION SECTOR IN PORTUGAL]]></article-title>
<article-title xml:lang="fr"><![CDATA[LE RISQUE DE FAILLITE DES PME: ÉVIDENCE DANS LE SECTEUR DE LA CONSTRUCTION AU PORTUGAL]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pacheco]]></surname>
<given-names><![CDATA[Luís Miguei]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rosa]]></surname>
<given-names><![CDATA[Raquel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Oliveira Tavares]]></surname>
<given-names><![CDATA[Fernando]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidade de Aveiro Porto  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Portugal</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,independente Porto  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Portugal</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Instituto Superior de Ciências Empresariais e do Turismo Porto  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Portugal</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2019</year>
</pub-date>
<volume>29</volume>
<numero>71</numero>
<fpage>143</fpage>
<lpage>157</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-50512019000100143&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-50512019000100143&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-50512019000100143&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO O presente artigo tem como objetivo encontrar as variáveis financeiras e não financeiras estatisticamente relevantes para a previsão de falência das empresas do setor da construção civil. Os modelos logit e probit previsionais de falência tornaram-se instrumentos úteis e eficazes na verificação das variáveis financeiras que sinalizam maiores perigos e antecipam situações críticas nas empresas. Verifica-se que os rácios que demonstram maior poder de previsão são o endividamento, a solvabilidade, a rendibilidade do capital próprio, a rendibilidade do ativo e a autonomia financeira. Relativamente às variáveis não financeiras, conclui-se que a exportação e o número de funcionários são determinantes na previsão de falência de uma empresa do setor da construção. Este artigo contribui para a literatura, pois apresenta variáveis não financeiras como determinantes na previsão de falência no setor da construção civil em Portugal.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN El presente trabajo tiene como objetivo encontrar las variables financieras y no financieras estadísticamente relevantes para la previsión de quiebra de las empresas del sector de la construcción civil. Los modelos logit y probit previsionales de quiebra se convirtieron en instrumentos útiles y eficaces en la verificación de las variables financieras que señalan mayores peligros y anticipan situaciones críticas en las empresas. Se observa que los ratios que demuestran mayor poder de previsión son el endeudamiento, la solvencia, la rentabilidad del capital, la rentabilidad del activo y la autonomía financiera. En cuanto a las variables no financieras, se concluye que la exportación y el número de funcionarios son determinantes en la previsión de quiebra de una empresa del sector de la construcción. El artículo contribuye a la literatura, pues presenta variables no financieras como determinantes en la previsión de quiebra en el sector de la construcción civil en Portugal.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT This paper is aimed to identify statistically relevant financial and non-financial variables for bankruptcy prediction in civil construction firms. Logit and probit bankruptcy prediction models became useful and effective instruments in the verification of financial variables that indicate greater risks and anticipate critical situations for companies. Results show that the ratios with the greatest predictive power are indebtedness, solvency, capital profitability, asset profitability and financial autonomy. As for non-financial variables, exports and the number of employees are determinants in the bankruptcy forecast of a company within the construction sector. This work's contribution to related literature is the presentation of non-financial variables as determinants in bankruptcy prediction within the Portuguese civil construction sector.]]></p></abstract>
<abstract abstract-type="short" xml:lang="fr"><p><![CDATA[RESUME L'objectif de ce document est de rechercher les variables financières et non financières statistiquement pertinentes pour les prévisions de faillite des entreprises du secteur de la construction civile. Les modèles de faillite logit et probit sont devenus des instruments utiles et efficaces pour la vérification des variables financières qui indiquent des dangers plus importants et anticipent les situations critiques dans les entreprises. On peut constater que les ratios qui montrent le plus grand pouvoir prédictif sont l'endettement, la solvabilité, la rentabilité du capital, la rentabilité des actifs et l'autonomie financière. En ce qui concerne les variables non financières, on conclut que l'exportation et le nombre de fonctionnaires sont des facteurs déterminants dans les prévisions de faillite d'une entreprise du secteur de la construction. L'article contribue à la littérature car il présente les variables non financières comme des facteurs déterminants dans les prévisions de faillite dans le secteur de la construction civile au Portugal.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[falência]]></kwd>
<kwd lng="pt"><![CDATA[insolvência]]></kwd>
<kwd lng="pt"><![CDATA[logit]]></kwd>
<kwd lng="pt"><![CDATA[PME]]></kwd>
<kwd lng="pt"><![CDATA[probit]]></kwd>
<kwd lng="pt"><![CDATA[setor da construção]]></kwd>
<kwd lng="es"><![CDATA[insolvencia]]></kwd>
<kwd lng="es"><![CDATA[logit]]></kwd>
<kwd lng="es"><![CDATA[probit]]></kwd>
<kwd lng="es"><![CDATA[pyme]]></kwd>
<kwd lng="es"><![CDATA[quiebra]]></kwd>
<kwd lng="es"><![CDATA[sector de la construcción]]></kwd>
<kwd lng="en"><![CDATA[Insolvency]]></kwd>
<kwd lng="en"><![CDATA[logit]]></kwd>
<kwd lng="en"><![CDATA[probit]]></kwd>
<kwd lng="en"><![CDATA[SME]]></kwd>
<kwd lng="en"><![CDATA[bankruptcy]]></kwd>
<kwd lng="en"><![CDATA[construction sector]]></kwd>
<kwd lng="fr"><![CDATA[insolvabilité]]></kwd>
<kwd lng="fr"><![CDATA[logit]]></kwd>
<kwd lng="fr"><![CDATA[probit]]></kwd>
<kwd lng="fr"><![CDATA[PME]]></kwd>
<kwd lng="fr"><![CDATA[faillite]]></kwd>
<kwd lng="fr"><![CDATA[secteur de la construction]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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