Financial management differences between family and non-family Mexican tourist firms.

The aim of this study is to analyze the financial management among the micro, small and medium (MSMEs) family and non-family Mexican tourist firms. Some variables like financing, debt, profit, growth, accounting and financial information have been considered. A survey on a sample of 122 tourist MSMEs from Quintana Roo state (Mexico) was used. It was composed by 72 families and 50 non-families firms. The results show that the family firms obtain higher profitability and use to a lesser extent accounting and financial information than the non-family firms. Additionally, it has been corroborated through multivariate analysis that the family firms have been running business longer than the non-family firms.