196 research outputs found
Studio comparato di fattibilità tecnica, economica e finanziaria per impianti di cogenerazione
No full textThe choice between a biomass and a natural gas cogeneration plant does not simply concern technological aspects. In fact, policy incentives implemented by the Italian government to encourage plants powered by renewable fuels affect the profitability of the project as well as - more importantly in our perspective - the risk factors of the investment. This article reports the comparative analysis performed to select the optimal choice between a biomass and a natural gas cogeneration system to be built to service a mushroom production plant. The aim is to highlight the importance of the sensitivity analysis to evaluate energy efficiency projects, to detect the different risk factors that the two technologies give rise to and to capture the strategies to implement to mitigate the project global risk. For this purpose, the paper first outlines the procedure followed to design the cogeneration plants. Secondly, for each of the actors involved (ESCO, bank and customer) the paper defines the main variables taken into account to assess the bancability and the profitability of the investment project
Ownership Linkages and Business Groups in Industrial Districts. The Case of Emilia Romagna
No full textIl volume descrive la recente evoluzione dei distretti industriali e dei sistemi locali di produzione in Italia sotto il profilo dell'organizzazione economica, della governance, dell'innovazione e dell'internazionalizzazione
Il sistema regionale di innovazione nelle traiettorie di competitività regionale
No full textThis paper analyses a number of European regions that in the last decade, through a considerable change in their economic base, experienced a remarkable growth path and a significant increase in their competitiveness. Th analysis was carried out with the aim of recognizing the main determinants (or factors) of territorial development behind each regional renewal process and capturing (in a necessarily stylized manner) a number of common trajectories of regional competitiveness. Interestingly, all regional 'success histories' are strongly dependent on the presence of a tri-polar regional innovation system 'gluing' firms, institutions and academia
Common trajectories of regional competitiveness in the knowledge economy: a European investigation
No full textThis paper analyses a number of European regions that in the last decade, through a considerable change in their economic base, experienced a remarkable growth path and a significant increase in their competitiveness. The analysis was carried out with the aim of recognizing the main determinants (or factors) of territorial development behind each regional renewal process and capturing (in a necessarily stylized manner) a number of common trajectories of regional competitiveness. Interestingly, all regional ‘success stories’ are strongly dependent on the presence of a tri-polar regional innovation system ‘gluing’ firms, institutions and academia
Common trajectories of regional competitiveness in the knowledge economy: a European investigation
No full textThe paper analyses a number of European regions that in the last two decades have exhibited a significant shift towards knowledge intensive industrial sectors coupled with a considerable increase in competitiveness and growth. The analysis identifies the main factors of territorial development behind each regional renewal process and captures a number of common trajectories of regional competitiveness. Interestingly, all regional ‘success stories’ are strongly dependent on the presence of a tri-polar regional innovation system that glues together firms, institutions and academia
Corporate groups and minority shareholder wealth: A role for private benefits?
No full textThis paper aims at developing a theoretical framework to address the issue of internal resource allocation within corporate groups, representing an extension of the internal capital market approach developed for Anglo-Saxon type multidivisional enterprises. In particular, the paper investigates how private benefits from control affect investment decision processes in a capital constrained business group. We consider a group of n listed companies controlled by one main shareholder (i.e., a hierarchical group), and suppose that the group as a whole is endowed with an exogenous and limited amount of capital for investment. We analyze the effects of private benefits on the investment allocative efficiency and on the wealth of the group's various claimants. Under reasonable assumptions, we show that the controlling shareholder always finds preferable to secure private benefits. Moreover, and surprisingly enough, we find that the appropriation of control benefits may give rise to an increase in the market value of the group as well as in the portfolio wealth of the set of minority shareholders. In particular, the positive effect of control benefits on minority interests increases with the capital rationing of the group. Therefore, the effects of private benefits can be different in different markets, depending on the degree of development and the credit capacity of the single market. The findings of this paper challenge the largely accepted view that private benefits from control are always harmful to minority shareholders. © 1999 Kluwer Academic Publishers
Innovazione di prodotto e di marketing. L’analisi dell’impatto nelle imprese familiari
No full textNel family business il rapporto tra i due fattori è più accentuato. Ciò potrebbe indicare la volontà di preservare una reputazione positiva: ecco che produzione e comunicazione concorrono a rifletterne i valori
Assetti organizzativi, rapporti con il territorio e prospettive di medio-lungo termine della media impresa industriale bergamasca
No full textA valle della ricerca organizzata dall’Unione degli Industriali della Provincia di Bergamo tramite una serie di interviste a medi imprenditori bergamaschi ed una raccolta di dati più estesa a tutte le imprese associate, in questa nota intendiamo offrire un contributo nella direzione di rappresentare un profilo della nuova ‘media industria’, così come appare delinearsi in una provincia ad alta vocazione industriale sottoposta in anni recenti a pressioni competitive ed inserita in un contesto caratterizzato da una significativa trasformazione dell’economia territoriale, così come nel recente passato è già avvenuto in altre realtà regionali europee. Nello specifico, il presente lavoro intende tracciare una descrizione della media impresa della provincia di Bergamo sotto il triplice profilo degli assetti organizzativi e gestionali, in particolare quelli connessi al modello di controllo, all’organizzazione manageriale e al passaggio generazionale, dei rapporti con gli altri attori del territorio e delle prospettive di medio-lungo termine. Metodologicamente il lavoro si muove lungo due direzioni di analisi: un’analisi di tipo orizzontale, mirata a far emergere le caratteristiche della media impresa bergamasca, a partire da un campione di medie imprese bergamasche di successo intervistate nel corso del progetto, in relazione alle medie imprese italiane; e un’analisi di tipo verticale, atta ad evidenziare le specificità dimensionali del modello di media impresa, in contrapposizione a quelli della piccola e della grande impresa
Common frameworks for regional competitiveness: insight from a number of local knowledge economies
No full textIn a reference framework towards the knowledge economy concept and in relation to the notion of Regional Innovation System (RIS), we consider a set of European regions that in the last two decades experienced a process of economic and industrial renewal, with a two-fold aim. Focusing on the time dynamics of the territories' renewal, we first classify the different regional development paths followed by the very regions under investigation in their process towards a knowledge economy. Secondly, we compare the above territories with a sample of Italian regions (those with the highest employment level in manufacturing activities and the largest income per-capita). Even though the European benchmarking regions are specialized in high-tech sectors, they share an industrial past based on heavy and traditional industries. In this respect, the two groups are not so different in nature, and their comparison reveals some interesting local policy implications and strategic insights for the regional transformation process
Common Trajectories of Regional Competitiveness in the Knowledge Economies: A European Investigation
No full textThis paper analyses a number of European regions which in the last two decades have exhibited a significant shift towards knowledge-intensive industrial sectors coupled with a considerable increase in competitiveness and growth. The analysis identifies the main factors of territorial development behind each regional renewal process and captures a number of common trajectories of regional competitiveness. Interestingly, all regional ‘success stories’ are strongly dependent on the presence of a tri-polar regional innovation system that glues together firms, government institutions and academia
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