TERRITORIAL ASSETS AND FIRMS’ COMPETITIVENESS IN SOUTHERN EUROPE: INDUSTRIAL VS COMMERCIAL FIRMS USING EXPLORATORY FACTOR ANALYSIS

The article investigates the importance of territorial characteristics or assets (e.g. agglomeration economies, urban infrastructures, factors of labor and cost, development policies, qualitative factors, etc.) on industrial and commercial firms’ competitiveness in Southeastern Europe. The analysis uses primary data from 246 small and medium sized local firms located in three cities, Bari (Italy), Varna (Bulgaria) and Thessaloniki (Greece). Through the use of factor analysis the importance of particular factors for the competitiveness of firms has been analysed, coming out in valuable conclusions for firms as well as the areas where these firms are located, while awards a more general trend of the significance that these factors have for relevant firms and areas in the wider zone of Southeastern Europe.