Evolution of Romanian Management Consulting Firms from Alba County

This paper aims to investigate the factors that have an influence upon the company size of Romanian management consulting from Alba County. In this investigation we made a quantitative analysis using information from financial statement. We use Ordinary Least Squares OLS method with robust standard errors, consistent with panel-specific autocorrelation and heteroskedasticity. Our study is based on a panel database including 151 companies over the period of 5 years ranging from 2015 to 2019. The empirical results reveal that the independent variables (Financial Leverage Ratio, number of employees, age of firms, cash and profit) explains 32,6% of the variation of firm size calculated as sales logarithm.