Consuela-Elena Popescu, Alexandra Horobet, G. Vrînceanu, L. Belaşcu
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引用次数: 1
Abstract
The present paper undertakes an analysis of the manufacturing sector performance in the European Union after the 2007-2009 Global financial crisis, with the aim of discovering the lessons to be learned for the post-pandemic world. We employ aggregate data at industry level and use a methodology based on mean difference tests and two-samples Kolmogorov-Smirnoff tests. We find a varied panorama of industry recovery in EU after the 2007-2009 crisis, albeit with different paces depending on size, ownership, and level of technological intensity. There is evidence of a higher flexibility of smaller companies, reflected mostly in productivity gains, and a focus of larger businesses on profitability, supported by their size. Moreover, better personnel cost management has led to a drop in the importance of personnel costs in turnover. Our results are valuable for businesses that needed to survive during the pandemics, as they show that higher business flexibility might support a quicker recovery.
期刊介绍:
The Eastern Journal of European Studies (EJES) seeks to provide a forum for multidisciplinary and interdisciplinary dialogue between ideas, and a framework for theoretical and empirical analyses covering major topics in European studies: European history, politics, European economy and European policies, EU community law, European culture and society. EJES encourages studies focusing on Central and Eastern Europe (including Eastern Neighbourhood) in order to better understand its transformations induced by the integration process and to address its specific challenges by supporting scientific debates on the general European theory and practice. Furthermore, the editorial board regularly invites distinguished guest editors to coordinate thematic issues.