The weight of intermediate-sized companies and the weight of industry
We have an estimate of the number of intermediate-sized companies (mid-caps, more than 250 and less than 5,000 employees, revenues of more than €50 million and less than €1.5 billion) for some European countries (France, Germany, United Kingdom, Italy). It is interesting to note that a high number of mid-caps corresponds to a high weight of industry in GDP. Is there a rational explanation for this? One might think that mid-caps: Have longer-term horizons and therefore use a lower discount rate (RoE), which promotes industrial investment and discourages offshoring; Are more attached to their regions than large companies, and therefore more reluctant to destroy jobs and offshore .