Determinants of Firm Competitiveness: Econometric Evidence from the Bulgarian Industry

Abstract

The factor effects of profitability at company and sectoral levels have earned a special status in research literature as a general measure of competitiveness. The Covid-19 crisis resulted in restrictions in consumption, rising levels of company debt, and increased concerns about company liquidity, which has led to revenue risks for industrial production firms. This study attempts to examine several factor effects that have impacted the financial performance, respectively the competitiveness of Bulgarian enterprises.