pH Group

Articles

• Business creation and employment
  17 May 2011, by Bernard Zimmern

  In the late 70s, an MIT researcher shook the whole world of economists by showing that large firms, those that make the media buzz, those who made the Fortune Magazine cover page, does not create jobs but lose them and that employment is created primarily by small companies and even the very small.
  When David Birch invented the new discipline of business demography, he was not arguing that large companies do not create jobs but as a category, they destroy more jobs than they create.
  Since (...)

• French companies earnings
  20 January 2012, by Romain Sautard

  In a previous study on equity capital of French companies, we have shown that, compared to British companies, French firms are undercapitalized. One of the potential reasons of this difference is that French companies earn fewer profits than British ones.
  Indeed, during a company life cycle, the main funding source for investments comes from the profits earned during the year. This is called self-financing. National accounting of non-financial companies shows that this kind of companies (...)

• High Growth Firm in France
  20 January 2012, by Romain Sautard

  IRDEME, with the help of the pH Group (Experian), performed a study on the high growth firm in France (see definition below). It is the first time that such a study is done for France. Indeed, even OECD which has developed an observatory of high growth firm does not have data on such French companies as this kind of companies is not tracked by INSEE (French statistics office).
  Definition of High Growth Firms
  The most dynamic companies, called High Growth Firms (HGF) have the following (...)

• The Medium-Sized Companies lose jobs… as the other companies
  19 September 2011, by Rose Blackburry

  After all the advertising done about MSCs (medium-sized companies, 250 to 2,000 employees), we wondered if these companies could be the salvation for the French economy and play the same role that they have in Germany, in the Mittelstand. For this purpose, we looked at the evolution of companies listed as MSC in 2004 and the following years (2004 to 2009).
  MSCs and job destruction
  The results obtained are consistent with those published by the Banque de France: MSC lose existing jobs at (...)

• Equity capital and companies’ strength
  25 November 2011, by Romain Sautard

  In this period of doubts and uncertainty in the global economy we are facing these latter weeks, and that had reached its peak last week with the announce of the Greek referendum (aborted) and the resignation from Papandréou in Greece and Berlusconi in Italy, it is important to have indicators allowing to know if European economies are strong enough to face an important crisis.
  One of these indicators could be the amount of equity capital of the companies of a country. Indeed, equity (...)

• Consequences on employment of initial firm capitalization
  23 May 2011, by Romain Sautard

  An INSEE study focusing on the French firms born in 2002 highlighted that, five years after their creation, 52% of these firms are still active. However, the firms’ survival rate is very dependent of the amount invested at their creation. Indeed, it appears that the higher the initial investment, the higher the firm survival rate:
  Chart 1. Survival rate of the French firms born in 2002, 5 years after their birth, depending on the initial capital stock
  Source : Insee, Sine study 2002, (...)