We investigate which firm characteristics are associated with investment in tangible and intangible fixed assets, paying special attention to the case of R&D, and which funding sources are used for each type of investment. Regarding firm characteristics, we find that younger and more profitable...

Most sectors and companies in the Central Balance Sheet Data Office Quarterly Survey saw an expansion in productive activity and employment in 2016.Buoyant activity, coupled with favourable trends in financial costs and revenues, enabled companies' ordinary profits to grow rapidly. This meant a...

According to the analysis conducted in this article, based on individual firms' balance sheet information, Spanish corporate investment tended to pick up from 2014 and to do so with greater intensity at SMEs than at large corporations, after having contracted more forcefully during the early...

According to the Central Balance Sheet Data Office Quarterly Survey, non-financial corporations' activity lost momentum in 2019, resulting in a slowdown in job creation. However, the high inflow of dividends contributed to an increase in ordinary profit and, as a result, average levels of return...

The information for the sample of firms reporting to the Central Balance Sheet Data Office Quarterly Survey evidences that in the first three months of 2021 firms’ activity continued to contract compared with 2020 Q1. However, it did so at a far slower pace than a year earlier, when the first...

The COVID-19 crisis has significantly impacted firms’ economic and financial performance. Thus, the Central Balance Sheet Data Office Quarterly Survey evidences that in 2020 the ordinary earnings and average profitability of the firms of this sample fell sharply. While profitability worsened...

The first part of this article describes developments in the profitability, solvency and liquidity of Spanish non-financial corporations, drawing on the integrated CBSO database, which contains annual information up to 2019. This analysis evidences that, at end-2019, the corporate sector was in...

According to the Bank Lending Survey, during 2020 Q4, both in Spain and in the euro area there was a slight contraction in the credit supply, linked to banks’ higher risk perceptions, against a background of a worsening economic outlook, which was also reflected in lower demand for loans....