Country versus Industry Effects in Euro-Zone Corporate Performance - a Dynamic Approach

• Autorzy: Julia Koralun-Bereźnicka

Warianty tytułu

Efekt kraju i sektora w kondycji finansowej przedsiębiorstw w ujęciu dynamicznym

• Języki publikacji: EN

Abstrakty

EN

This study aims to compare the relative importance of industry and country factors in corporate performance within euro zone. Classification methods of clustering analysis were employed in order to verify whether the similarities between enterprises follow the country or the industry patterns more. The territory of the analysis was limited to nine euro-zone countries, which is a highly integrated area, and therefore fairly homogenous. Findings provide empirical evidence about the increasing role of industry factors in comparison with the previous findings. The main practical implication of the study is therefore the growing importance of cross-industry diversification strategies in comparison to the traditional cross-country investment diversification. (original abstract)

Celem podjętego badania jest porównanie relatywnej ważności specyfiki sektora i kraju jako czynników wpływających na kondycję finansową przedsiębiorstw w strefie euro. Aby zweryfikować, czy podobieństwa występujące pomiędzy kondycją finansową przedsiębiorstw bardziej pokrywają się z podziałami narodowymi czy sektorowymi, zastosowano metody klasyfikacji w postaci analizy skupień. Zakres terytorialny analizy ograniczono do dziewięciu krajów strefy euro, jako obszaru o wysokim stopniu integracji, a zatem stosunkowo homogenicznego. Wyniki badania empirycznego pozwalają wnioskować o wzroście znaczenia czynników sektorowych w porównaniu z dotychczasowymi badaniami. Głównym wnioskiem praktycznym jest zatem rosnąca rola międzysektorowej dywersyfikacji inwestycji w stosunku do tradycyjnej metody dywersyfikacji międzynarodowej. (abstrakt oryginalny)

Słowa kluczowe

EN

Financial condition; Enterprises condition; Eurozone; Research results; Industry effect

PL

Kondycja finansowa; Kondycja przedsiębiorstwa; Strefa euro; Wyniki badań; Efekt sektorowy

• Czasopismo: Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu. Nauki o Finansach
• Rocznik: 2010
• Tom: 5
• Numer: nr 138
• Strony: 71--87

Twórcy

autor

Julia Koralun-Bereźnicka

• University of Gdansk, Poland

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