Artikel

Impacto microeconómico de la financiarización en las pequeñas empresas: El caso español

Empirically, financialisation analysis can be addressed from either a macroeconomic or micr oeconomic perspective. In aggregate terms, the former implies observing the growing influence exerted by financial transactions, overly dominant financial markets and alterations to industrial economy logics by global finances. As for the latter, the micro economic approach aims to study financialisation from within companies through the analysis of their financial reports and income statements. Our research aims to interrelate both spheres from an empirical approach in order to determine the existence o f a causal relation between them. It was conducted using a database of 42,873 Spanish manufacturing companies with fewer than 100 employees and the calculation of a financialisation rate for the period 1995 - 2017. The results revealed that from a macroecono mic perspective, financialisation was a key factor in the recent crisis, and that this crisis brought about changes to corporate behaviour trends, consisting of a move away from fixed capital and profit investments, demonstrating the existence of a 'scisso r effect' in both cases.

Sprache
Spanisch

Erschienen in
Journal: Atlantic Review of Economics (ARoEc) ; ISSN: 2174-3835 ; Volume: 5 ; Year: 2022 ; Issue: 2 ; Pages: 1-18

Klassifikation
Wirtschaft
Financial Markets and the Macroeconomy
Payout Policy
Accounting
Thema
Microeconomía
Financiarización
Pymes. España
Microeconomics
Financialization
SMEs. Spain

Ereignis
Geistige Schöpfung
(wer)
Abalde, Nazaret
González Laxe, Fernando
Palmero, Federico Martín
Massó, Matilde
Ereignis
Veröffentlichung
(wer)
Colegio de Economistas de A Coruña
(wo)
A Coruña
(wann)
2022

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Abalde, Nazaret
  • González Laxe, Fernando
  • Palmero, Federico Martín
  • Massó, Matilde
  • Colegio de Economistas de A Coruña

Entstanden

  • 2022

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