Economic and financial strategy in the Spanish construction companies during the period 2008-2012

Abstract

Historically, the Spanish economy has been dependent on the construction sector. Before the economic crisis, the construction sector made a contribution of 13%] to the GDP in 2006. During the 1999-2009 period, construction companies with less than 20 employees, which represented 97%] of the industry, had a growth of 140.30%]. From 2009 the number of companies decreased to levels similar to those in the 1990s. This paper analyzes the financial and economic strategy followed by construction companies which overcame the 2008-2012 period. A quantitative analysis was made of balance sheets and profit and loss accounts which belong to 271 construction companies. The samples have been selected from the Iberian Balance Sheets Analysis system (SABI). Big and mediumsized construction companies which have maintained their income volume and the number of hired employees were included. © 2015, Universidade de Santiago de Compostela. All rights reserved.