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Firm soundness and knowledge externalities: a comparative regional analysis

Giuseppe Arcuri, Nadine Levratto, Aziza Garsaa and Lara Abdel Fattah

No 2019-10, EconomiX Working Papers from University of Paris Nanterre, EconomiX

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)
JEL-codes: I25 L26 R11 C33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent and nep-eur
Date: 2019
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