We analyse the financial performance of small German hospitals based on balance sheet data of about 1,000 hospitals in 2007. Measures of financial performance are the earnings before interest, tax, depreciation, and amortisation (EBITDA) and the probability of default (PD). We find that, on...

Performance management systems can be divided into those that rely considerably on significant stakeholders and that ignore stakeholders, other than the stockholders and the clients. Decision makers willing to implement and use a performance management system must decide to what extent such...

Purpose: The new competitive environment characterized by innovation and constant change is forcing a new organizational behavior. This requires a digital transformation of SMEs based on collective performance determinants. SMEs have particular characteristics that differentiate them from large...