The impact of financial and economic crisis on SME's in Greece and Ireland

Lacina, L., Mendel University in Brno . Dept. of Finance; Vavrina, J., Mendel University in Brno . Dept. of Business  Economics

The impact of financial and economic crisis on SME's in Greece and Ireland

2013

Lacina, L., Mendel University in Brno (Czech Republic). Dept. of Finance | Vavrina, J., Mendel University in Brno (Czech Republic). Dept. of Business Economics

The aim of the paper is to ﬁll the gap in economic research and to analyse the impact of the ongoing crisis on business entities in selected eurozone member countries. Authors selected two eurozone member countries from EU periphery (Greece and Ireland). Both countries are severely hit by economic crisis and authors suppose that also their business sector will be signiﬁcantly inﬂuenced. However author believes that the structural diﬀerences will lead over the time in faster recovery of Irish businesses in contrast to the Greek one. We create dataset using Amadeus database which contains the harmonized data about statistically signiﬁcant set of business in selected countries. Authors then sorting the data according selected variables such as size of the company, NACE categorization and comparative indicators of individual business economic performance, namely representatives of indicators groups proﬁ tability, solvency, liquidity and indebtedness/ﬁnancial structure of business entities. For the purpose of analysis authors analyse the data series three years before the crisis (2005, 2006 and 2007) and the three years of crisis (2008, 2009 and 2010). The dataset consists of 3,567 business entities in both observed countries. In the study we use the cluster analysis to detect some basic patterns and trends in business sector in terms of homogeneity within dataset. Based on the results of microeconomic environment analysis (impact of crisis and national economic policies) authors assess the optimal reaction of economic policy (both national and EU) to improve the condition of businesses which authors believe are the source of future economic recovery.

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AGROVOC Keywords

achat actividad bancaria activo circulante banking bases de datos capital compra data processing databases debt demand demanda demande desempleo dette deudas economic depression economic growth economic indicators economic policies european union countries exploitation agricole moyenne farm results financement financiamiento financing fiscal policies grecia greece inflation ireland irlanda irlande liquid assets macroeconomic analysis medium size farms microeconomic analysis petite entreprise politique fiscale procesamiento de datos profitability purchasing rentabilidad small enterprises statistical data unemployment

Bibliographic information

Published in

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis (Czech Republic)

Volume 61 Issue 4 ISSN 1211-8516

Pagination

pp. 1005-1016

Other Subjects

Rentabilite; Inflacion; Resultat de l'exploitation agricole; Grece; Donnee statistique; Politique economique; Chomage; Analyse macroeconomique; Indicateur economique; Politica economica; Croissance economique; Paises de la union europea; Datos estadisticos; Activite bancaire; Indicadores economicos; Depression economique; Pays de l'union europeenne; Analisis microeconomico; Traitement des donnees; Analisis macroeconomico; Banque de donnees; Crecimiento economico; Politica fiscal; Empresas pequenas; Resultados de la explotacion; Analyse microeconomique; Recesion economica; Tresorerie; Explotacion media

Language

English

Note

Summary (En)

4 graphs, 10 tables

16 ref.

Type

Summary

In AGRIS since: 2014-08-15

Format: AGRIS AP

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The impact of financial and economic crisis on SME's in Greece and Ireland

2013

AGROVOC Keywords

Bibliographic information