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Estimates of Future Industrial Development in the Context of Company Size

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  • Lucie Povolná
  • Michaela Jánská
  • Marta Žambochová

Abstract

The expected development of economic reality is a determining variable for many companies and their demand planning. Do their reflections on future market development differ depending on how big the companies are? The study focused on business cycle indicators that the Czech Statistical Office (CZSO) publishes regularly. Until 2017, the CZSO published these indicators sorted according to company size, but then it abandoned the division. This study aims to evaluate whether the size of companies affects their estimate of future demand and to use these results to point out whether the termination of the publishing of these indicators, broken down by company size, was justified. The data were evaluated with correlation and cluster analysis. The research confirms that the nature of the forecasts for different-sized companies varies in terms of examined prediction indicators. Small and medium-sized companies agree in their projections, and large companies (in general) are more pessimistic than small and medium-sized ones. The breakdown made according to the size of companies should be maintained as it is an essential signal for policymakers.

Suggested Citation

  • Lucie Povolná & Michaela Jánská & Marta Žambochová, 2022. "Estimates of Future Industrial Development in the Context of Company Size," Politická ekonomie, Prague University of Economics and Business, vol. 2022(3), pages 312-340.
    • Handle: RePEc:prg:jnlpol:v:2022:y:2022:i:3:id:1352:p:312-340
    DOI: 10.18267/j.polek.1352
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    References listed on IDEAS

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    1. Miroslav Mateev & Yanko Anastasov, 2010. "Determinants of small and medium sized fast growing enterprises in central and eastern Europe: a panel data analysis," Financial Theory and Practice, Institute of Public Finance, vol. 34(3), pages 269-295.
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    3. Silvestri, Daniela & Riccaboni, Massimo & Della Malva, Antonio, 2018. "Sailing in all winds: Technological search over the business cycle," Research Policy, Elsevier, vol. 47(10), pages 1933-1944.
    4. Garcia-Ferrer, Antonio & Bujosa-Brun, Marcos, 2000. "Forecasting OECD industrial turning points using unobserved components models with business survey data," International Journal of Forecasting, Elsevier, vol. 16(2), pages 207-227.
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    More about this item

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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