A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms
Comparing the financial characteristics of firms in different countries and regions has been a popular research topic in finance. In this paper, we compare the financial characteristics of U.S. and European manufacturing firms with the MANOVA (Multivariate Analysis of Variance) method and financial...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Sciendo
2016-08-01
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| Series: | Studies in Business and Economics |
| Subjects: | |
| Online Access: | https://doi.org/10.1515/sbe-2016-0021 |
| _version_ | 1818280584462467072 |
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| author | Meric Gulser Bentley T. Jerome McCall W. Charles Meric Ilhan |
| author_facet | Meric Gulser Bentley T. Jerome McCall W. Charles Meric Ilhan |
| author_sort | Meric Gulser |
| collection | DOAJ |
| description | Comparing the financial characteristics of firms in different countries and regions has been a popular research topic in finance. In this paper, we compare the financial characteristics of U.S. and European manufacturing firms with the MANOVA (Multivariate Analysis of Variance) method and financial ratios. Our findings indicate that the overall financial characteristics of U.S. and European manufacturing firms are significantly different. We find that U.S. manufacturing firms are more profitable and they have less liquidity and bankruptcy risks compared with European manufacturing firms. European manufacturing firms are more efficient in managing their fixed assets. However, U.S. manufacturing firms are more efficient in managing their accounts receivable and total assets. U.S. manufacturing firms are able to achieve significantly higher sales and total assets growth rates compared with European manufacturing firms. |
| first_indexed | 2024-12-12T23:51:33Z |
| format | Article |
| id | doaj.art-8a1e837c23514014a24461c9640e5b62 |
| institution | Directory Open Access Journal |
| issn | 2344-5416 |
| language | English |
| last_indexed | 2024-12-12T23:51:33Z |
| publishDate | 2016-08-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studies in Business and Economics |
| spelling | doaj.art-8a1e837c23514014a24461c9640e5b622022-12-22T00:06:40ZengSciendoStudies in Business and Economics2344-54162016-08-01112586710.1515/sbe-2016-0021sbe-2016-0021A Comparison of the Financial Characteristics of U.S. and European Manufacturing FirmsMeric Gulser0Bentley T. Jerome1McCall W. Charles2Meric Ilhan3Rowan University, Glassboro, New Jersey, United States of AmericaRider University, Lawrenceville, New Jersey, United States of AmericaRider University, Lawrenceville, New Jersey, United States of AmericaRider University, Lawrenceville, New Jersey, United States of AmericaComparing the financial characteristics of firms in different countries and regions has been a popular research topic in finance. In this paper, we compare the financial characteristics of U.S. and European manufacturing firms with the MANOVA (Multivariate Analysis of Variance) method and financial ratios. Our findings indicate that the overall financial characteristics of U.S. and European manufacturing firms are significantly different. We find that U.S. manufacturing firms are more profitable and they have less liquidity and bankruptcy risks compared with European manufacturing firms. European manufacturing firms are more efficient in managing their fixed assets. However, U.S. manufacturing firms are more efficient in managing their accounts receivable and total assets. U.S. manufacturing firms are able to achieve significantly higher sales and total assets growth rates compared with European manufacturing firms.https://doi.org/10.1515/sbe-2016-0021financial characteristicsu.s. manufacturing firmseuropean manufacturing firmsmanova (multivariate analysis of variance) |
| spellingShingle | Meric Gulser Bentley T. Jerome McCall W. Charles Meric Ilhan A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms Studies in Business and Economics financial characteristics u.s. manufacturing firms european manufacturing firms manova (multivariate analysis of variance) |
| title | A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms |
| title_full | A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms |
| title_fullStr | A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms |
| title_full_unstemmed | A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms |
| title_short | A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms |
| title_sort | comparison of the financial characteristics of u s and european manufacturing firms |
| topic | financial characteristics u.s. manufacturing firms european manufacturing firms manova (multivariate analysis of variance) |
| url | https://doi.org/10.1515/sbe-2016-0021 |
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