engleski

MULTIVARIATE ANALYSIS OF ENTREPRENEURIAL PRODUCTIVITY: CASE OF CROATIA

The aim of this paper was to analyze the relationship between Croatian enterprises’ size and productivity. A thousand top Croatian companies were analyzed regarding two indicators: revenue per employee and profit per employee. Using K-means clustering method enterprises were grouped into three clusters. It was found that with a rise in employment level enterprises tend to get less productive and vice versa. Hence, the observed relationship is found to be reversely proportional. Cluster analysis results were corroborated using discriminant analysis. Dummy variable regression models were also formed to give answers about the strength and magnitude of the relationship of interest. It was confirmed that small Croatian top enterprises have significantly higher revenue per employee and profit per employee then large corporations.

Cluster Analysis; Discriminant Analysis; Regression Analysis; Entrepreneurship; Productivity

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