121065 20240319080946.0 doi 10.1080/10242694.2020.1783622 sideral 118843 ART-2022-118843 eng Callado-Muñoz, Francisco J. (orcid)0000-0003-1399-5484 Firm performance in regulated markets: the case of spanish defence industry 2022 Access copy available to the general public Unrestricted This paper studies the effects of legal reforms associated with defence and public procurement on firm performance. With this aim, a theoretical framework for the reaction of defence firms to regulatory changes is developed. Its predictions have been empirically assessed using the last reforms implemented in Spain. Our results suggest that these new regulations have allowed the main defence contractors to outperform the other defence contractors in terms of productivity, having no effect on profitability. These findings are in line with theoretical priors. Therefore, it can be claimed that governmental interventions have had an effect on firm performance. We also provide evidence that, while the procurement procedures and the contract law put into place in 2011 have principally affected the productivity of large firms, the centralization process established in 2014 has exerted a higher influence on SMEs. info:eu-repo/grantAgreement/ES/DGA/S52-17R info:eu-repo/grantAgreement/ES/MINECO/ECO2016-76255-P info:eu-repo/grantAgreement/ES/MINECO/ECO2017-86305-C4-2-R info:eu-repo/grantAgreement/ES/MINECO-FEDER/RTI2018-095799-B-I00 info:eu-repo/semantics/openAccess by-nc http://creativecommons.org/licenses/by-nc/3.0/es/ 1.6 2022 ECONOMICS 236 / 380 = 0.621 2022 Q3 T2 0.583 2022 Social Sciences (miscellaneous) 2022 Q1 Economics and Econometrics 2022 Q2 3.7 2022 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Hromcová, Jana Sanso-Navarro, Marcos Universidad de Zaragoza (orcid)0000-0002-5926-2166 Utrero-González, Natalia (orcid)0000-0001-9304-3517 Vera-Cabello, María (orcid)0000-0001-8973-6804 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico 33, 2 (2022), 201-218 Def. peace econ. Defence and Peace Economics 1024-2694 208844 http://zaguan.unizar.es/record/121065/files/texto_completo.pdf Postprint 1399170 http://zaguan.unizar.es/record/121065/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:121065 articulos driver 2024-03-18-12:33:24 ARTICLE