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Majors as shareholders: an empirical analysis of municipal capitalism in Italy

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  • Bernardo Bortolotti
  • Laura Pellizzola
  • Carlo Scarpa

Abstract

Questo lavoro quantifica la presenza di enti locali e regionali italiani in società di capitali di media e grande dimensione, sulla base dei dati di bilancio di 423 imprese non finanziarie partecipate da tali enti. In queste imprese si forma oltre l'1 per cento del PIL nazionale, e ad esse si riferiscono circa oltre 200.000 occupati. I dati confermano che le imprese locali sono presenti soprattutto nel nord del paese, e in alcune regioni il loro contributo al PIL e all'occupazione arriva a superare rispettivamente il 6 e il 2 per cento. La presenza pubblica corrisponde nella grande maggioranza dei casi anche al controllo su queste imprese, ove la presenza di soci privati è marginale. La presenza di capitali privati è per altro associata a una maggiore redditività ed efficienza, oltre ad un minore indebitamento.

Suggested Citation

  • Bernardo Bortolotti & Laura Pellizzola & Carlo Scarpa, 2007. "Majors as shareholders: an empirical analysis of municipal capitalism in Italy," Mercato Concorrenza Regole, Società editrice il Mulino, issue 3, pages 535-568.
    • Handle: RePEc:mul:jhpfyn:doi:10.1434/26055:y:2007:i:3:p:535-568
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    Cited by:

    1. Federico Quaresima & Fabio Fiorillo, 2020. "The economics of politics: patronage and political selection in Italy," Economics of Governance, Springer, vol. 21(1), pages 27-48, March.
    2. Fabio Monteduro, 2014. "Public–private versus public ownership and economic performance: evidence from Italian local utilities," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(1), pages 29-49, February.

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