Country and size effects in financial ratios: a European perspective
Country and size effects in financial ratios: a European perspective
Harmonised aggregate financial statements are published by the European Commission in the BACH database. This information is organised by country, size of firm, and year. Financial ratios obtained from this database are analysed using multivariate statistical techniques in order to explore country and size effects. The data relates to three size groups, eleven countries, fourteen years, and fifteen financial ratios. It is found that financial ratios reflect the size of the firm, but that the way in which this is reflected varies between the different countries. It is also found that there are no significant size related differences in financial profitability, but that such differences appear when countries are compared. Important regularities are found over time. Some time effects are also found in the way countries react to the business cycle.
BACH database, firm size, Central Balance Sheet, three-way scaling, INDSCAL, financial statement analysis, European business evolution
University of Southampton
Serrano Cinca, C.
90e6b01c-17ba-44b6-b723-b18e19ad28bc
Mar Molinero, C.
915e1795-1028-433b-8ec3-b530fb25cbbf
Gallizo Larraz, J.L.
62d8f73d-e5fd-48c0-abaa-5151119e36c6
2001
Serrano Cinca, C.
90e6b01c-17ba-44b6-b723-b18e19ad28bc
Mar Molinero, C.
915e1795-1028-433b-8ec3-b530fb25cbbf
Gallizo Larraz, J.L.
62d8f73d-e5fd-48c0-abaa-5151119e36c6
Serrano Cinca, C., Mar Molinero, C. and Gallizo Larraz, J.L.
(2001)
Country and size effects in financial ratios: a European perspective
(Discussion Papers in Accounting & Finance, AF01-3)
Southampton, UK.
University of Southampton
33pp.
Record type:
Monograph
(Discussion Paper)
Abstract
Harmonised aggregate financial statements are published by the European Commission in the BACH database. This information is organised by country, size of firm, and year. Financial ratios obtained from this database are analysed using multivariate statistical techniques in order to explore country and size effects. The data relates to three size groups, eleven countries, fourteen years, and fifteen financial ratios. It is found that financial ratios reflect the size of the firm, but that the way in which this is reflected varies between the different countries. It is also found that there are no significant size related differences in financial profitability, but that such differences appear when countries are compared. Important regularities are found over time. Some time effects are also found in the way countries react to the business cycle.
More information
Published date: 2001
Additional Information:
ISSN 1356-3548
Keywords:
BACH database, firm size, Central Balance Sheet, three-way scaling, INDSCAL, financial statement analysis, European business evolution
Identifiers
Local EPrints ID: 35731
URI: http://eprints.soton.ac.uk/id/eprint/35731
ISSN: 1356-3548
PURE UUID: 2bfbb702-94a9-4c31-85bf-f2db6aeadc04
Catalogue record
Date deposited: 24 May 2006
Last modified: 15 Mar 2024 07:54
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Contributors
Author:
C. Serrano Cinca
Author:
C. Mar Molinero
Author:
J.L. Gallizo Larraz
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