Podnikový sektor - vybrané aspekty empirické analýzy zemí Evropské unie

Corporate Sector-Selected Aspects of Empirical Analysis of the EU Member States

Vratislav Izák

Politická ekonomie, 2016, vol. 2016, issue 2, 161-175

Abstract: Corporate Sector-Selected Aspects of Empirical Analysis of the EU Member States The paper attempts to shed light on selected problems of mainly non-fi nancial corporations of EU Member States in the period 1995-2013 (2014) using financial balance sheets (SNA, 2008). The relations between domestic sectors and non-residents have revealed that the Member States have been mainly debtors during the examined period. Having measured leverage (ratio of debt to GDP created in the sector of non-financial corporations) we have found out the increase of the ratio in the crisis period (2008-2013) in the sample of 17 member states. As concerns the ratio of debt to shares we have stressed the heterogeneity in the sample of 8 eurozone countries. The heterogeneity has been discovered also examining the role of trade credit as an alternative source of financing in the random effects model (panel analysis).

Keywords: trade credit; non-financial corporations; leverage; financial balance sheets (search for similar items in EconPapers)
JEL-codes: D22 G32 H32 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.18267/j.polek.1061

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