Financial returns of Spanish business, 1880-1981: An estimation from a sectorial point of view

Authors

  • Xavier Tafunell

DOI:

https://doi.org/10.1344/rhi.v0i18.18549

Keywords:

Profitability, Business History, Sectorial Differenciation, Business Cycles

Abstract

This paper presents a first estimate of Spanish business profitability (return oil equity) for the period 1880 to 1981. Both quantitative data and qualitative analysis focus on main economic sectors' profitability performance and persistent differences concerning individual companies' profitability. Prominent aspects stemming from the evidence presented here are the following ones: in general, profitability has fluctuated according to business cycle; different sectors have followed distinctive patterns; and a great number of companies have had a profitability profile quite different from the average, which can be explained in great part by the existence of strong persistent disparities in rates of return among sectors.

Published

2017-04-27

Issue

Section

Articles