Did Accession to the EU Affect Small and Large Firms Differently? The Case of the Austrian Retail and Wholesale Sector
This paper presents an analysis of the effects that Austria's accession to the EU had on several key financial ratios of small business firms in the retail and wholesale trade sectors. These two industries were selected because before 1995 they were protected in many respects, thus vulnerable to increased competition after accession. The financial ratios selected are cash-flow per employed person, mean absolute deviation of cash-flow per employed person (as a variation-based risk measure), debt per employed person and financing cost as percentage of external debt. Together these four ratios determine a firm's creditworthiness. Our study is unique in that it is based on micro data, which allows us to consider the whole distribution of the ratios as compared to only aggregates as in other studies and to examine the scale effects within idustries. The data basis are balance sheets of more than 14,000 retail and 8,000 wholesale trade firms of all size classes during 1989-1996. In the empirical analysis we test the hypothsis of a structural break in the year of Austria's accession to the EU and put particular emphasis on the question whether small and large firms were affected differently by that structural break.
Volume (Year): 6 (2002)
Issue (Month): (07)
|Contact details of provider:|| Web page: http://www2.wu-wien.ac.at/ecsa/Email: |
More information through EDIRC
|Order Information:||Web: http://eiop.or.at/eiop/|
When requesting a correction, please mention this item's handle: RePEc:erp:eiopxx:p0082. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Editorial Assistant)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.