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The Performance of European Business in the Twentieth Century$
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Youssef Cassis, Andrea Colli, and Harm Schröter

Print publication date: 2016

Print ISBN-13: 9780198749776

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198749776.001.0001

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Spanish Business Performance in the Twentieth Century

Spanish Business Performance in the Twentieth Century

(p.136) 9 Spanish Business Performance in the Twentieth Century
The Performance of European Business in the Twentieth Century

Veronica Binda

Albert Carreras

Xavier Tafunell

Oxford University Press

The achievements of the Spanish economy in the last forty years of the old millennium were impressive, especially taking into account that Spain was largely an agricultural country at the beginning of the twentieth century. Spanish corporations were important protagonists in this catch-up process. This chapter deals with the business development and performance of Spanish big companies in terms of both return on equity and holding return throughout the century. After describing the transformations in the activity of firms by industry, and their corporate ownership, the chapter focuses on these corporations’ results. According to the main outcomes of the investigation, the experience in terms of Spanish business performance in the twentieth century seems to have been one of high profitability. This could be viewed in the light of the fact that the perceived risk was above average, and consequently the returns were expected to be higher than normal.

Keywords:   Spanish economy, Spanish corporations, return on equity, holding return, performance, big companies, risk

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