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<p>This study evaluates the economic performance of plastics manufacturers in European regions (e.g., Western, Southern, Central and Eastern Europe, and the Baltic States) between 2017 and 2020 based on data from 3,372 companies using multivariate correspondence analysis (MCA) and Welch’s test. They were analyzed according to the indicators of profitability, sales (or turnover), employment, and total assets. The results of MCA show that Central and Eastern European companies are absolute leaders in terms of profitability. While Southern European companies have the highest total assets, their sales and profitability are lower compared to other regions. We found that Western European companies lead in terms of turnover and that the Baltic region is roughly on par with Central and Eastern European countries in terms of profitability and employment. These differences were also tested using the pairwise Welch’s test, which revealed highly statistically significant differences, especially in turnover and total assets. The results also show that profitability levels are similar regardless of company size, while sales and total assets are significantly different across European regions. These findings on plastics manufacturers in different European regions are crucial to help policymakers and industry leaders make informed decisions to address economic performance, investment and environmental concerns, and to develop sustainable solutions for the plastics industry.</p>
</abstract>

This study evaluates the economic performance of plastics manufacturers in European regions (e.g., Western, Southern, Central and Eastern Europe, and the Baltic States) between 2017 and 2020 based on data from 3,372 companies using multivariate correspondence analysis (MCA) and Welch’s test. They were analyzed according to the indicators of profitability, sales (or turnover), employment, and total assets. The results of MCA show that Central and Eastern European companies are absolute leaders in terms of profitability. While Southern European companies have the highest total assets, their sales and profitability are lower compared to other regions. We found that Western European companies lead in terms of turnover and that the Baltic region is roughly on par with Central and Eastern European countries in terms of profitability and employment. These differences were also tested using the pairwise Welch’s test, which revealed highly statistically significant differences, especially in turnover and total assets. The results also show that profitability levels are similar regardless of company size, while sales and total assets are significantly different across European regions. These findings on plastics manufacturers in different European regions are crucial to help policymakers and industry leaders make informed decisions to address economic performance, investment and environmental concerns, and to develop sustainable solutions for the plastics industry.

A Multivariate Performance Analysis of the Plastics Manufacturers: Comparative Analysis of European Regions

“Vasile Goldiș” Western University of Arad

Studies in Business and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

This study evaluates the economic performance of plastics manufacturers in European regions (e.g., Western, Southern, Central and Eastern Europe, and the...

A Multivariate Performance Analysis of the Plastics Manufacturers: Comparative Analysis of European Regions

Published Online: May 21, 2024

Page range: 167 - 188

DOI: https://doi.org/10.2478/sbe-2024-0009

Keywords
European economies, manufacturing, multivariate correspondence analysis, plastics industry, Welch’s test

© 2024 Ibrahim Niftiyev et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

A Multivariate Performance Analysis of the Plastics Manufacturers: Comparative Analysis of European Regions

Published Online: May 21, 2024

Page range: 167 - 188

DOI: https://doi.org/10.2478/sbe-2024-0009

KeywordsEuropean economies, manufacturing, multivariate correspondence analysis, plastics industry, Welch’s test

© 2024 Ibrahim Niftiyev et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
European economies, manufacturing, multivariate correspondence analysis, plastics industry, Welch’s test