1,721,084 research outputs found
Does ownership affects firms'efficiency? Panel Data evidence on Italy.
No full textThis paper provides empirical evidence on the relation between the identity of ultimate owners and technical (in)efficiency by estimating stochastic production frontiers on Italian firm level panel data for twelve manufacturing industries over the 1978–93 period. Privately-owned independent firms are used as reference group and their efficiency is assessed against three alternative forms of ownership: subsidiaries of (privately owned) national business groups, subsidiaries of foreign multinationals, and state owned firms. Even if cross-industry differences obviously exist a common pattern can however be identified. Overall, subsidiaries of foreign multinationals (state owned firms) are found to be more (less) efficient than the reference group. On the contrary, no systematic difference is found between independent firms and subsidiaries of national business groups
Micro e macro determinanti del processo di sviluppo: quali relazioni tra finanza e accumulazione?
No full textGrandi imprese ed economia: considerazioni teoriche e verifiche empiriche sulla realtà italiana
No full textMarket Power, Productivity and the EU Single Market Program: An Ex-post Assessment on Italian Firm Level Data
No full textContinua il dibattito: La ricerca applicata nell’economia industriale alcune riflessioni sullo stato dell’arte
No full textIs Private R&D Spending Sensitive to Its Price? Empirical Evidence on Panel Data for Italy
No full textIn this paper empirical evidence is presented on the elasticity of private R and D spending on its price. A censored panel-data regression model with random effects is applied to a balanced panel of 726 Italian firms over the 1992-1997 period. Implied estimates point out that Italian firms' response to policy measures (including tax credits), aimed at reducing the user cost of R and D capital, is likely to be substantial (1.50-1.77). Furthermore, we also find that the elasticity of R and D spending is higher in recession (2.01) than in expansion (0.87)
Testing the relationship between the growth of the firms and the growth of the economy
No full textOn the account of the growing attention towards the role of large enterprises overall economy as well as the investigation of micro-to-macro interfaces, this paper proposes an econometric test of the existing long run relationship between the growth of the economy and the growth of a group of Italian industrial firms. To this purpose we attempt an inquiry into the direction of the causality between the expansion paths of the firms and of the economy. After testing the hypothesis of co-integration between the growth of the firms and the growth of the economy, an Error Correction Model is estimated. Having found that the hypothesis of weak exogeneity of the firms cannot be rejected, a confirmation of the assumptions that assign an active role to large companies in driving the growth of the economy is given. © 1991 Elsevier Science Publishers B.V. (North-Holland)
Productivity, Innovation Creation and Absorption, and R&D: Micro Evidence for Italy
No full textBoston College Working Paper n.52
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