UNSPECIFIED. (2004) Tracking Euro preparations amongst UK SMEs. APPLIED ECONOMICS, 36 (14). pp. 1537-1546. ISSN 0003-6846

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Abstract

This paper tracks levels of Euro preparations by UK SMEs with trade links with the Euro currency area using two surveys of the same cross-sectional dataset. The first study was conducted soon after the initial launch of the Euro in 1999. The second study, using the same SMEs, sought to see how Euro preparations had changed by 2002 following the introduction of Euro notes and coins. At the univariate level, the results showed that the proportion of SMEs that were totally prepared increased from 31% to 44.3% whilst the proportion not prepared has also increased from 8.9% to 12.2%. The multivariate results show that directly trading manufacturers with a parent in the Euro area or who are seeking to acquire another company are more likely to have partially prepared for the Euro, which suggests a compliant ('just another foreign currency') rather than a strategic approach to the Euro. Trade links do not explain all the differences: incorporated manufacturing firms are significantly more likely to be partially prepared and less likely to be completely unprepared, indicating a possible impact of firm capabilities and sectoral differences. Firms looking to acquire others was the only significant business strategy variable.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	APPLIED ECONOMICS
Publisher:	ROUTLEDGE TAYLOR & FRANCIS LTD
ISSN:	0003-6846
Official Date:	10 August 2004
Volume:	36
Number:	14
Number of Pages:	10
Page Range:	pp. 1537-1546
Identification Number:	10.1080/0003684042000217968
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/8167

Data sourced from Thomson Reuters' Web of Knowledge

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