1,721,069 research outputs found
Export Premia and Sub-contracting Discount Passive Strategies and performance in Domestic and Foreign Markets
No full textThis paper contributes to the literature on firms’ productivity and exporting decisions by analysing the role played by organisational choice aspects. Rather than setting up a vertically integrated structure, manufacturers may act as subcontractors in both domestic and foreign markets, and produce to satisfy the requirements of other firms. The predictions that the most productive firms self-select into exporting, whereas the least productive ones work as subcontractors serving the domestic market only, are tested on a sample of Italian firms observed during the 1998–2003 period. The results of our estimates highlight a ranking of firms consistent with a priori expectations, and provide a clear indication that passive exporters (i.e. those using subcontracting in foreign markets) display lower total factor productivity (TFP) values when compared with direct exporters. Moreover, only the latter category exhibits higher pre-entry productivity levels and growth rates as well as higher post-entry TFP growth rates. Such findings are consistent with both the self-selection hypothesis and the learning-by-exporting explanation.Accettato per la pubblicazione nel 2010
Are EU Leading Firms Returning to Core Business? Evidence on Refocusing and Relatedness in a Period of Market Integration
No full textThis paper tests, for 108 diversified EU manufacturing leaders faced by the EU integration shock (1987–1997), if firms responded to increased competitive pressure by readjusting their industry-mix around a core of related activities. Our results show that, in spite of limited reduction in diversification, firms pursued strategies of related constrained diversification by expanding the output of industries related to the core. We also find that complementarity amongst the firm’s operations – i.e., sharing common intermediary products or common output markets – drives the refocusing. The effect is stronger for highly diversified firms. Our findings suggest that EU leaders are moving toward a more efficient use of their resources. Copyright Springer 2005European integration, firm diversification, return to core,
Diversification
No full textDeterminants of industrial concentration, market integration and efficiency in the European Union. An analysis of trends in key market characteristics across industries and firms: firm diversification
Firm diversification in the European Union. New insights on return to core business and relatedness
No full textCorporate governance e performance delle utilities: trasformazioni societarie, ingresso di privati e interferenza politica
No full textThis paper analyses the effects of corporatization, mixed ownership and board composition on the behaviour and performance of a sample of 114 Italian local public utilities, for which information about 1,630 directors during 1994-2004 has been collected. Our main findings indicate that, while the corporatization process and the presence of private investors are positively correlated with profitability, the presence of politically connected directors, who dominate boards of directors in the Italian public utilities in the period under investigation, exerts a negative impact on performance
MULTIDIMENSIONAL PERFORMANCE IN TELECOMMUNICATIONS, REGULATION AND COMPETITION: ANALYSING THE EUROPEAN MAJOR PLAYERS
No full textBoard composition, political connections, and performance in state-owned enterprises
No full textThis article analyses the effects of board composition on the behavior of a sample of 114 Italian local public utilities, for which information about 1630 directors during 1994–2004 has been collected. This period is particularly interesting because of the legal changes that forced many firms to alter their juridical form and accommodated the entrance of private investors. We investigate whether board size and/or board composition do affect decisions about employment and how they ultimately impact performance. Our main findings indicate that politically connected directors, who dominate boards of directors in Italian public utilities, exert a positive and significant effect on employment, and have a negative impact on performance
Strategie multi-prodotto nei servizi di pubblica utilità: effetti della diversificazione e della densità dell’utenza
No full textSCOPE AND SCALE ECONOMIES IN MULTI-UTILITIES: EVIDENCE FROM GAS, WATER AND ELECTRICITY COMBINATIONS
No full text- …
