Struttura economico-finanziaria dell'industria italiana: ruolo degli incentivi pubblici

Economic financial structure of industrial companies: role of the Italian government?s grants - Italian government?s grants to industrial companies have decreased in recent years. Moreover, during the period 2000-2007, less than 25% of total incentives was aimed at sustaining industrial R&D and internationalization activities. In the absence of an effective public aid policy, in 2007 Italian industrial companies were still focused on traditional manufacturing industries and were suffering the increasing competition from emerging countries. The added value of their manufacturing activity has decreased, their technological growth has slowed down, their financial indebtedness has dropped, while their return on equity has increased. The performance of most industrial companies that had received the government?s aids has not improved, with the exception of the so-called Made in Italy and the Transportation equipment manufacturing sectors, whose economic performance has improved with state subsidies. Keywords: government grants, manufacturing industries, capital structure Parole chiave: agevolazioni del governo, settori manifatturieri, struttura economico-finanziaria Jel Classification: H81, L52