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The Impact Of Eu Membership On The Financial Performance Of Business Firms In Central And Eastern Europe

Author

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  • G. Rod Erfani

    (Transylvania University, USA)

  • Tonmoy Islam

    (Transylvania University, USA)

Abstract

This paper examines how European Union (EU) membership impacts the financial performance of business firms in the emerging economies of Central and Eastern Europe. In 2004, the European Union welcomed ten additional members: Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. This was the largest enlargement in the history of the European Union. This study examines whether business firms from those ten countries improved their financial performance since joining the EU. It intends to empirically demonstrate that the profitability of the business firms increased since the ten countries joined the EU. Quarterly data on assets, short and long term liabilities, and common equity were collected. Data was collected for the period 2001- 2009. Econometric methods were used to determine the efficiency and profitability of these companies. The results of this study indicate that the companies benefited from joining the European Union.

Suggested Citation

  • G. Rod Erfani & Tonmoy Islam, 2012. "The Impact Of Eu Membership On The Financial Performance Of Business Firms In Central And Eastern Europe," The International Journal of Economic Behavior - IJEB, Faculty of Business and Administration, University of Bucharest, vol. 2(1), pages 81-90, December.
    • Handle: RePEc:but:ijebfa:v:2:y:2012:i:1:p:81-90
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