Firm soundness and knowledge externalities: a comparative regional analysis

Aziza Garsaa (), Lara Abdel Fattah (), Nadine Levratto () and Giuseppe Arcuri ()
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Aziza Garsaa: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Lara Abdel Fattah: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Nadine Levratto: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Giuseppe Arcuri: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper investigates the role of regional context with regard to human capital and knowledge spillover effects in SMEs' financial soundness. Our empirical setting is based on the multilevel analysis for panel data, which better allows for the treatment of hierarchical data. It is applied to firms belonging to the industrial sector and operating in four European countries over the 2010–2015 period. We find that a combination of individual- and regional-level characteristics explain firm soundness more accurately than individual features alone. Furthermore, we find that a higher local educational level and knowledge spillover improve the firm soundness.

Keywords: Entreprise et territoire; capital humain; robustesse financière de l'entreprise; modèle multiniveau (search for similar items in EconPapers)
Date: 2019
Note: View the original document on HAL open archive server: https://hal.science/hal-04141888
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