1,721,000 research outputs found
Capitale umano dei fondatori, endogeneità del finanziamento pubblico e crescita delle giovani imprese hi-tech italiane
No full textQuesto lavoro sviluppa un’analisi empirica delle determinanti della crescita dimensionale
di un panel di 510 giovani imprese hi-tech italiane nel periodo tra il 1990 e il 2001. Inizialmente,
si esamina la relazione tra crescita d’impresa da un lato e dimensione e età dall’altro.
L’analisi si concentra quindi sulla valutazione dell’impatto sulla crescita d’impresa del capitale
umano dei fondatori e di un finanziamento pubblico selettivo focalizzando l’attenzione
sulle conseguenze di una possibile endogeneità del finanziamento pubblico al capitale umano
dei fondatori. I risultati evidenziano che le imprese più piccole crescono più velocemente.
Contrariamente all’evidenza dominante, l’età ha un impatto positivo; la particolare natura
del settore high-tech può spiegare questo risultato. La crescita d’impresa è inoltre influenzata
dalle caratteristiche del capitale umano dei fondatori che descrivono la sua attitudine
’vocazionale’ tecnico-scientifica, valutata a partire dalle scelte accademiche, e la sua esperienza
di lavoro specifica nel settore. Se si introducono controlli per la possibile endogeneità
del finanziamento pubblico, emerge che l’accesso a sussidi pubblici selettivi non favorisce la
crescita delle giovani imprese hi-tech. Complessivamente, si suggerisce che vi sia un problema
di auto-selezione nell’accesso ai finanziamenti pubblici da parte degli imprenditori più
capaci
Does globalization matter on fiscal decentralization of OECD?
Full text linkIn this paper we re-examine the effects of globalization on fiscal decentralization of OECD by using the overall KOF index of globalization and its main subcomponents - economic, political and social integration. Using different indicators of fiscal decentralization, we find a positive impact of the overall index of globalization on both revenue and expenditure decentralization side, although not robust across different panel data specifications. Focusing on the links between decentralization and different aspects of globalization, we find that both economic and social integration foster fiscal decentralization, whereas political integration checks growth of it
Risk Attitude, Product Innovation and Firm Growth. Evidence from Italian Manufacturing Firms
Full text linkWe study the impact of individual risk attitude on the relationship between product innovation and firm performance, in a model of firm growth with endogenous product selection. We exploit a unique dataset collecting firm-level data on new product introductions and individual attitudes towards risk elicited from a lottery. Empirical evidence shows that the introduction of a new product affects firm growth significantly only in the sample of risk-loving individuals, thus supporting the hypothesis of a negative correlation between the firm growth and the risk aversion of the decision maker
New product introduction and product tenure: What effects on firm growth?
No full textThis study contributes to the recent empirical literature on the innovation–firm performance relationship by investigating the effect of product introduction on firm growth in a sample of Italian firms from 2000 to 2006. We adopted a novel approach that exploits the interpretative content of the tenure of the last product introduced (i.e., the number of years since its first introduction) as an additional variable into the explanatory scheme of firm sales growth rate. This variable aims to capture peculiar characteristics of new goods, such as their novelty and complexity. The estimated results confirmed the relevance of this model specification and helps in understanding the reason why previous studies have failed to find a statistically robust relationship between product innovation and growth. Moreover, we found the following: first, the release of a new product enhances growth opportunity among multiproduct firms; second, product development promotes the growth of firms belonging to sectors with stronger commitment to research and development; and third, new product development enhances firm growth substantially in those sectors that absorb externally originated patents
Decentralization, administrative reforms and local government performance: The impact of inter-communality in a pre-crisis time
No full textThis paper attempts to evaluate if local council partnerships are effective in the decentral- ization design accordingly to the suggestions put forward by the literature on functional, overlapping and competing jurisdictions (FOCJ). The issue is empirically addressed by evaluating the effect of local partnerships on two local council performance indicators, namely revenue autonomy and expenditure. Heterogeneity responses are also examined by considering differences in the partnerships according to their institutional nature, i.e. mandatory versus voluntary partnerships. The case study consists of the whole set of 246 municipalities belonging to the Marche Italian region and estimation is carried out with ref- erence to the years 1999 and 2003. Results show the degree of autonomy assigned to local councils to choose partners for cooperation is a crucial element of an effective local government reform. While mandatory local council partnerships show to be not effective to improve local council performance, voluntary local council partnerships enhance revenue autonomy without affecting local council expenditure. Thus, inter-communality projects that fit the theoretical prerequisite of FOCJ, as it is the case of voluntary local council partner- ships, can help to improve horizontal decentralizatio
La funzione di polizia municipale e l'efficienza dell'Unione di Comuni. Una analisi mediante DEA.
No full textOggetto di studio è l'efficienza dell'Unione di Comuni nella gestione della funzione di polizia municipale. Con tecniche DEA, emerge che i Comuni in Unione conseguono una efficienza di scala più elevata rispetto ai Comuni non associati mentre l'efficienza tecnica complessiva e inferiore. Una simulazione dell'ipotesi di produzione congiunta suggerisce che le Unioni potrebbero avere incontrato difficoltà sul piano della armonizzazione delle tecnologie produttive di ciascun Comune. Le Unioni potrebbero aver organizzato non efficientemente le risorse complessive derivanti dall'associazionismo
Does globalization matter on fiscal decentralization? New evidence from the OECD
No full textIn this paper, we re-examine the effects of globalization on fiscal decentralization of Organisation for Economic Co-operation and Development (OECD) member countries by using the overall KOF index of globalization and its main subcomponents — economic, political and social integration. Using different indicators of fiscal decentralization, we find a positive impact of the overall index of globalization on both tax revenue and expenditure decentralization side, although not robust across different panel data specifications. Focusing on the links between decentralization and subcomponents of globalization, we find that both economic and social integration foster fiscal decentralization, whereas political integration inhibits its growth
Differentiated property tax and urban sprawl in Italian urbanized areas
Full text linkCity’s core and suburbans tax differentials can affect sprawl within an urban area. We empirically address this issue by analyzing the pattern of growth of 72 Italian urbanized areas. As a novelty, we investigate the causes of the emerging land development pattern. Our results show that density of urban area declines in response to an increase in the city’s core property tax rate. We find that this effect is due to changes in dwelling size. By contrast, density of urban area significantly rises when suburbans property tax rates increase, making the urban area more compact. This effect is attributable to changes
in the improvement effect of property taxation
Introduzione di nuovi prodotti e crescita dell’impresa
No full textThis paper investigates the effect of product introduction, as a proxy for firm innovative activity, on firm growth in a sample of 186 Italian manufacturing companies over the period 2000-2006. We explore the role played by the tenure of the last product introduced in a product portfolio (i.e. the number of years since its first introduction) as an additional variable into the standard explanatory scheme of firm growth. We also analyze how firm-specific entrepreneurial and managerial characteristics affect firm growth through the new product introduction process. Our estimates confirm the importance of a product specific effect, i.e. product age, in a firm growth setting and help in explaining why many previous studies have failed to find a statistically robust relationship between product innovation and firm growth.
Additionally, the empirical evidence also shows that the relationship between product innovation and firm growth is more pronounced when the governance structure of the company is
more oriented to identify and exploit new market opportunities
Individual risk attitude, product innovation and firm performance. Evidence from survey data
No full textWe use survey data on individual risk attitude and discount rates to test the impact of individual risk profile on the firm innovation activity and firm performance. Empirical evidence from 163 Italian entrepreneurs shows that risk-loving individuals and individuals with smaller than average discount rates introduce products that affect firm growth rates significantly
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