Differences in Financial Performance Amongst Spanish SMES According to Their Capital-Ownership Structure: A Descriptive Analysis

25 Pages Posted: 15 Feb 2010

See all articles by Zuray Melgarejo

Zuray Melgarejo

National University of Colombia

Katrin Simon

affiliation not provided to SSRN

F. J. Arcelus

University of New Brunswick - Fredericton - Faculty of Business

Abstract

The purpose of this paper is to assess whether financial performance differences between labour-managed (LOFs) and mercantile (PCFs) firms are due to differences in their capital-ownership configuration or to the particular measurement indexes commonly used to quantify performance. The empirical evidence rests upon a 1994–2003 data set of LOFs and PCFs that operate in the Industrial and Services sectors of the economy of Navarre, Spain. The results do not detect significant differences in financial performance between LOFs and PCFs, especially in the long-term and suggest the need to develop performance indices more akin to the special nature of the LOFs.

Suggested Citation

Melgarejo, Zuray and Simon, Katrin and Arcelus, F. J., Differences in Financial Performance Amongst Spanish SMES According to Their Capital-Ownership Structure: A Descriptive Analysis. Annals of Public and Cooperative Economics, Vol. 81, Issue 1, pp. 105-129, March 2010, Available at SSRN: https://ssrn.com/abstract=1552190 or http://dx.doi.org/10.1111/j.1467-8292.2009.00407.x

Zuray Melgarejo (Contact Author)

National University of Colombia

Carrera 30 45-03
Bogota, None
Colombia

Katrin Simon

affiliation not provided to SSRN

No Address Available

F. J. Arcelus

University of New Brunswick - Fredericton - Faculty of Business ( email )

Fredericton, New Brunswick E3B5A3
Canada
506-458-7333 (Phone)
506-453-3561 (Fax)

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
4
Abstract Views
687
PlumX Metrics