Outlook #3 “Developments in the leveraging process of European companies: Some effects on the asset side”

The Outlook #3 available free of charge at the BACH website , entitled “Developments in the leveraging process of European companies:  Some effects on the asset side” uses BACH data to compare recent trends in non-financial corporation performance in the following nine European economies: Austria, Belgium, Czech Republic, France, Germany, Italy, Poland, Portugal and Spain. In particular, indicators on the financial structure of non-financial corporations, their debt and financial services as well as the structure of the asset side are presented. The analysis includes an assessment of the recent situation in the countries under study and analyses the effects of the economic and financial crisis as well as the evolution of non-financial corporation financing between 2008 and 2013. The main attention is dedicated to the analysis of deleveraging effect during the financial crisis. Particular attention is given to the role of firm size and industry affiliation and to measures of dispersion.