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This article measures and discusses the continuities and changes in the procurement process in Europe by examining the influence of national preferences in terms of sovereignty, industrial issues, and strategic needs on procurement strategies. We focus on the aerospace defense industry and study four aircraft markets (fighter aircraft, transport aircraft, helicopters, and UAVs) in 30 European countries during the post-Cold War era. Our results reveal significant heterogeneity in terms of strategies. They suggest that European countries lack coordination in their aircraft procurement strategies; if a country has sufficient industrial capacity, it will seek to maximize national industrial benefits in its procurement choices, to the detriment of its European partners; conversely, if a country has no industrial capacity, transatlantic suppliers would be preferable to European ones. Members of the former USSR and Warsaw Pact have phased out old Soviet-era aircraft at different rates, depending on the market, with European suppliers benefiting more from this process than American ones. Overall, our study provides a comprehensive and nuanced perspective on the defense aircraft industry in Europe that can inform policymakers and stakeholders in this sector. [ABSTRACT FROM AUTHOR]

Decades after the transition processes have spread across Central, Eastern, and South-Eastern Europe (CESEE), the former Soviet Union, and the Baltic, it was interesting to perform the post-transition and non-transition advanced European economies comparison to capture the outcomes of the 'catching-up process'. In this analysis, I tried to reach the results of this 'catching process' using the firm-level accounting data, namely, enterprises' annual accounts rather than countries' national accounts. The goal was to evaluate if post-transition countries' enterprises have reached the financial performance of non-transition countries' enterprises across Europe, three decades after the transition processes began. The research captured firm-level financial performance aspects revealing some differentiators, namely, financial report indicators that differed for the enterprises belonging to post-transition countries in comparison with the ones belonging to non-transition countries in Europe. The findings related to the liquidity, solvency, indebtedness, profitability indicators, and labor intensity ratio were derived by logit regression models. The observations for 569 European companies were provided by Orbis Europe for the year 2021 annual accounts. According to the results, enterprises in post-transition countries, characterized by lower total assets and working capital scale, were likely to have lower profit margins, share of employees' costs in operating turnover, current ratio, and gearing, while higher solvency and liquidity ratio. Mild marginal effects indicated the gap narrowed but with still existing significant disparities, particularly in the field of liquidity. [ABSTRACT FROM AUTHOR]