Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/239480 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 14 [Issue:] 2 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-29
Publisher: 
MDPI, Basel
Abstract: 
Although the European business environment induces important premises and assures conditions in determining economic growth and social well-being, the determinant and existent connections between the evolution of small and medium-sized enterprises (SMEs), business demography characteristics and the European socio-economic model have been scarcely studied in recent years. The dimensions of the European socio-economic model design a very specific framework in developing business demography and assuring a favorable environment for future SME development. The main aim of the manuscript is to investigate the evolution of the European SMEs sector and the perspective of business demography evolution to converge with exigencies of the European socio-economic model. In order to argue the research objective, eight specific and representative business demography variables were employed, from 12 European Union member states (EU-MS), during 2009-2017. Further, the SMEs' performances, determined by changing the economic functional paradigm, were assessed. For proving this, an econometric model was designed considering labor productivity as an endogenous variable. Our preliminary analysis shows considerable differences in business demography indicators and SMEs development among all five socio-economic sub-models of the main European socio-economic model, proving a tight connection between European socio-economic models and SMEs' performance and arguing the necessity of a paradigm convergence. Within some sub-models, there is clear evidence of clustering and convergence in terms of business demography and SMEs future development.
Subjects: 
business model
business demography
economic behavior
economic performance
employment
productivity
SME's
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.