OBSERVATORY ON EUROPEAN RESEARCH FOR CRAFTS AND SMEs

Issued by Academy Avignon of Crafts and SMEs in Europe

The Observatory on the European Research for Crafts and SMEs was set up by the Academy Avignon of Crafts and SMEs in Europe, based in Brussels. Its mission is to monitor the results of research on Craft and SMEs carried out in Europe by several bodies e.g. research centres, universities, the EC agencies. The Observatory diffuses the results to Crafts and SME organizations and the other relevant stakeholders.

NEWSLETTER
MAIN CONTENTS IN THIS ISSUE

OCTOBER 2012/N.42

1. Les PME en Europe : les disparits entre pays et secteurs sont plus fortes en 2010 quavant la crise 2. The micro dynamics of exporting: evidence from French Firms 3. Internalization Or Externalization: What Determines The Mode Of Governance For Small- And Medium-Sized Technology Enterprises? 4. Explaining loan rate differentials between small and large companies: evidence from Switzerland

LES PME EN EUROPE : LES DISPARITS ENTRE PAYS ET SECTEURS SONT PLUS FORTES EN 2010 QUAVANT LA CRISE
Author(s): Summary (F)

Banque de France

Les comptes 2010 des petites et moyennes entreprises (PME) de neuf pays europens, collects dans la base BACH-ESD (Basedes comptes harmoniss des entreprises Rfrences sectorielles europennes), mettent en vidence une amelioration ingale des performances aprs la crise de 2008-2009 et soulignent la rsilience des PME allemandes. La reprise de lactivit en 2010 permet en effet une hausse de la rentabilit des PME. Nanmoins, celle-ci demeure infrieure son niveau davant-crise, et les disparits engendres par la crise entre pays et entre secteurs se sont accentues. Les PME de la construction restent dans une situation difcile, notamment en Espagne, au Portugal et en Italie. Celles de lindustrie manufacturire bncient dun regain dactivit marqu, avec des performances en nette progression en Allemagne. En revanche, la crise a peine contrari le renforcement des capitaux propres entam il y a dix ans. cet rgard, la situation des PME allemandes progresse et se rapproche de celle des PME franaises. Se situant dans une position intermdiaire par rapport aux autres pays europens, ces dernires se dmarquent par un faible niveau dendettement bancaire, compens par le crdit fournisseur relativement lev et par les autres dettes comprenant notamment les nancements intragroupes. Notamment, les dlais de paiement psent plus sur le besoin en fonds de roulement dans les pays dEurope du Sud (Italie, Espagne, Portugal) que dans ceux dEurope du Nord (essentiellement Autriche, Allemagne, Belgique). Au nal, les PME franaises ont globalement assez bien rsist la dgradation de lenvironnement, mais elles ne pro tent pas du regain dactivit en 2010 avec autant dintensit que leurs homologues doutre-Rhin.

Link

THE MICRO DYNAMICS OF EXPORTING: EVIDENCE FROM FRENCH FIRMS

Author(s): Summary (EN)

Ines Buono e Harald Fadinger (Bank of Italy)

The paper investigates the dynamics of export relationships in French exporters over the five years (1995-1999).The authors find that export relationships are highly dynamic; moreover more of these dynamics are explained by relationship-specific shocks. Also, export values are small at first but gradually increase as relationships mature. Link

INTERNALIZATION OR EXTERNALIZATION: WHAT DETERMINES THE MODE OF GOVERNANCE FOR SMALL- AND MEDIUM-SIZED TECHNOLOGY ENTERPRISES?

Gongming Qian(The Chinese University of Hong Kong, Hong Kong), Lee Li (York University, Canada), Zhengming Qian (Xiamen University, PR Chine)
Author(s): Summary (EN)

Small and medium-sized firms interested in entering international markets face a difficult decision with regard to the choice of governance modes. The options available to a firm include internalization and externalization. Existing theories contradict each other as to the strategic benefits of these options. This study compares these theories in the context of small and medium-sized technology-based enterprises. Findings from this study suggest that merits of internalization and externalization vary with market contexts and the resources under the firms control.

Link

EXPLAINING LOAN RATE DIFFERENTIALS BETWEEN SMALL AND LARGE COMPANIES: EVIDENCE FROM SWITZERLAND

Author(s): Summary (EN)

Andreas Dietrich (Institute of Financial Service IFZ, Lucern University)

The lending-rate differentials between loans to small and large companies are striking. According to several studies, these disparities of loan rates are primarily a result of a lower informational efficiency at small companies. This study examines to what extent such differences in loan rates are caused not only by informational inefficiencies, but also by operational costs and the borrowers negotiation power. By using unique, hand-collected data from the credit-pricing models of 15 Swiss regional banks, the authors provide new empirical evidence that operational costs are a key factor in explaining differences in lending rates between small and large enterprises. Furthermore, the authors also found that the lack of negotiation power of small enterprisesexpressed in the profit margin amount of the bank has significant explanatory power. Link

Newspapers:
Social enterprise network daily: Monday 15 October
15 October 2012, The Guardian
By Joe Jervis

New Europe Post: Small and medium-sized enterprises in the European Union bring employment, creativity, innovation, growth and prosperity. According to the European Economic and Social Committee, their importance to the EU economy cannot be overstated.

La BPI pour aider les PME de l'automobile

19 October 2012, Le Figaro
By Arnaud Montebourg
"Nous

pourrons aller plus loin avec la BPI dans les prochains mois, semaines, nous souhaitons d'ailleurs ractiver les garanties qui avaient t utilises pendant la crise, pendant le 'credit crunch' de 2008-2009 destination des PME"

GOOD PRACTICE
We would like to suggest you this article:

Mental health promotion in the workplace, a summary of a good practice report

This article aims to explain what is mental health promotion, why it is important to invest in this goal; in addition it would likes to suggest some innovative approaches, and finally , practical aspects which shows several examples of good practice.

Other important information

The Healthy Workplaces Campaign 201213 Working together for risk prevention encourages managers, workers and other stakeholders to join forces to improve safety and health. The Campaign is co-ordinated by the European Agency for Safety and Health at Work (EU-OSHA), and our partners in theEUs 27 Member States and beyond. The campaign focuses on:
risk prevention managing risks encouraging top managers to actively engage in risk reduction encouraging workers, their representatives and other stakeholders to work with managers to

reduce risks

Good practice award flyer

THELISTOFSOURCESINTHISISSUE.

The Chinese University of Hong Kong Founded in 1963, this university that is positioned in modern
civilized society. After close to half a century of growth and development, the university has become a comprehensive research university, a regional leader with a global reputation.

York University is a leading interdisciplinary research and teaching university in Canada. York offers a
modern, academic experience at the undergraduate and graduate level in Toronto Canadas most international city. The mission of York University is the pursuit, preservation, and dissemination of knowledge.

The Guardian, known until 1959 as The Manchester Guardian (founded 1821), is a British national daily
newspaper in the Berliner format. Currently edited by Alan Rusbridger, it has grown from a 19th-century local paper to a national paper associated with a complex organisational structure and international multimedia and web presence. Its sister papers include The Observer (British Sunday paper) and The Guardian Weekly.

Xiamen University was founded in 1921 by Tan Kah Kee, the well-known patriotic overseas Chinese leader. It
was the first university in China founded by an overseas Chinese. At present it is the only university in any of five special economic zones and is one of China's higher-level universities designated for the state key construction of the 211 Project and the 985 Project.

The European Agency for Safety and Health at Work (EU-OSHA) is committed to making Europe a
safer, healthier and more productive place to work. They promote a culture of a risk prevention to improve working conditions in Europe

The present edition of the Newsletter for the Academy Avignon was edited by Maura Albanesi
If you have any question or comment, please, dont hesitate to contact us at: Academy Avignon for Craft and SMEs in Europe Rue Jacques de Lalaing, 4 B-1040 Bruxelles Phone: +3222850709 E-mail: b.palmieri@ueapme.com o maura.albanesi@gmail.com

To remove your name or to suggest further emails to add to our mailing list, please contact us at: maura.albanesi@gmail.com