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Are large firms more profitable than small and medium firms in the European Union?

2018Journal article Open access
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dc.contributor.authorGaio, Cristina
dc.contributor.authorHenriques, Rita
dc.date.accessioned2018-05-14T15:43:17Z
dc.date.available2018-05-14T15:43:17Z
dc.date.issued2018
dc.description.abstractThis study comparatively analyses the profitability between large enterprises (LE) and small and medium enterprises (SME) in the European Union in order to understand which group of companies is more profitable. The analysis is also segmented by groups of countries and industries. Furthermore, we study the impact of the financial crisis on profitability. The sample includes 54,654 firms from 21 EU countries and from 17 industries during the period between 2004 and 2013. Two measures of profitability are used: (1) Return on Assets (computed both with earnings before interest and taxes and net profit), and; (2) Return on Equity. The results suggest that LE are, on average, more profitable than SME. This finding holds across all industries except one. However, there is additional evidence that SME in Eastern Europe are more profitable than LE and are also more profitable than SME in Western Europe. Finally, the results also suggest that the financial crisis negatively impacted firms’ profitability, particularly in SME.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationGaio, Cristina e Rita Henriques (2018). "Are large firms more profitable than small and medium firms in the European Union?". The European Journal of Management Studies, 23(1):25-48pt_PT
dc.identifier.issn2183-4172
dc.identifier.urihttp://hdl.handle.net/10400.5/15382
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherISEG - Departamento de Gestãopt_PT
dc.relation.publisherversionwww.european-jms.compt_PT
dc.subjectProfitabilitypt_PT
dc.subjectlarge enterprisespt_PT
dc.subjectsmall and medium enterprisespt_PT
dc.subjectcrisispt_PT
dc.titleAre large firms more profitable than small and medium firms in the European Union?pt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.conferencePlaceLisboapt_PT
oaire.citation.endPage48pt_PT
oaire.citation.issue1pt_PT
oaire.citation.startPage25pt_PT
oaire.citation.titleThe European Journal of Management Studiespt_PT
oaire.citation.volume23pt_PT
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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2018, Volume 23, nº 1