Politická ekonomie 2016, 64(2):161-175 | DOI: 10.18267/j.polek.1061

Podnikový sektor - vybrané aspekty empirické analýzy zemí Evropské unie

Vratislav Izák
Vysoká škola ekonomická v Praze.

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

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
JEL classification: D22, G32, H32

Published: April 1, 2016  Show citation

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Izák, V. (2016). Corporate Sector-Selected Aspects of Empirical Analysis of the EU Member States. Politická ekonomie, 64(2), 161-175. doi: 10.18267/j.polek.1061
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