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The economic slowdown took a toll on SMEs’ profits and investments in 2012

Author

Listed:
  • J.-L. Cayssials.
  • J. Rhein.

Abstract

The difficult business environment that prevailed in 2012 adversely affected small and medium-sized enterprises (SMEs) in France and above all weighed on their profits. SMEs nonetheless maintained a sound capital structure and reduced their debt ratios, even though many of them were weakened by the shock from the 2009 recession.

Suggested Citation

  • J.-L. Cayssials. & J. Rhein., 2013. "The economic slowdown took a toll on SMEs’ profits and investments in 2012," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 31, pages 19-44, Autumn.
    • Handle: RePEc:bfr:quarte:2013:31:02
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    File URL: https://publications.banque-france.fr/sites/default/files/medias/documents/quarterly-selection-of-articles_31_2013-autumn.pdf
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    References listed on IDEAS

    as
    1. F. Guinouard. & E. Kremp. & M. Randriamisaina., 2013. "Access to credit of SMEs and MTEs: decline in supply or lower demand? Lessons learned from a new quarterly business survey," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 30, pages 21-33, Summer.
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      More about this item

      Keywords

      SME; business activity; profitability; investment; debt; equity;
      All these keywords.

      JEL classification:

      • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
      • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
      • G30 - Financial Economics - - Corporate Finance and Governance - - - General
      • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
      • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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