Long-Run Profits in Times of Crisis: A Comparison between European SMEs and Large Companies

20 Pages Posted: 20 Jun 2015

Date Written: June 14, 2015

Abstract

This is pioneering research in that it makes a comparison of the process of convergence of long-run profits in the manufacturing sector of six European countries (2000-12), differentiating between SMEs and large firms, and by identifying the impact of the crisis on this process. The results obtained by employing the convergence model, known as the Partial Adjustment Model, indicate that the inter-country competitive process, is working better among large companies than among SMEs. The impact of the crisis on this process has been uneven across the countries and the sizes of the firms.

Keywords: Convergence, crisis, Europe, firm, SME

JEL Classification: F20, L60

Suggested Citation

Alcalde-Fradejas, Nuria and Ramírez-Alesón, Marisa, Long-Run Profits in Times of Crisis: A Comparison between European SMEs and Large Companies (June 14, 2015). Available at SSRN: https://ssrn.com/abstract=2618319 or http://dx.doi.org/10.2139/ssrn.2618319

Nuria Alcalde-Fradejas (Contact Author)

University of Zaragoza ( email )

Gran Via 2
Zaragoza, 50005
Spain

Marisa Ramírez-Alesón

University of Zaragoza ( email )

Gran Via 2
Zaragoza, 50005
Spain

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