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Financial Rating of European Technology Companies: An International Comparison

Erkki K. Laitinen
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Erkki K. Laitinen: University of Vaasa, Finland

Journal of Business Finance & Accounting, 2002, vol. 29, issue 7&8, 871-901

Abstract: The purpose of this study is to investigate possibilities to uniform financial rating of technology companies in Europe from the perspective of a potential investor. The data consist of financial statements of 6,370 companies from seventeen European countries and the US in 1993-1996. The data from 1994-1996 are used to measure three-year success and the data from 1993 to predict this success. Success is measured by the principal factor of six performance measures. Country risk, percentage change in GDB, size, and eight financial ratios calculated for 1993 are used as predictors of success in the binary logistic analysis. Copyright Blackwell Publishers Ltd 2002.

Date: 2002
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