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Innovation And Performance Of Italian Multinational Enterprises Of The "Fourth Capitalism"

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  • Daniele SCHILIRO

    () (DESMaS "V.Pareto", University of Messina, Italy)

Abstract

The aim of the contribution is to focus on the innovation of Italian medium and medium -large multinationals who represent the "fourth capitalism" and also to evaluate their performance. The enterprises of "fourth capitalism" are the set of medium and medium-large enterprises who seem to be stronger on foreign markets, either through exports or through foreign direct investment. The paper uses the data set from Mediobanca Research Unit to provide a descriptive analysis of the performance of Italian multinational enterprises of the "fourth capitalism", showing the complex approach to the internationalization of these enterprises, where innovation plays a key role. Flexibility and specialization in the production are also important elements that drive the decision to invest and produce abroad for these enterprises. The commercial dimension also plays a key role for the firms of the "fourth capitalism", as it leads to the direct control of foreign markets. The study points out that one of the strategic objectives of Italian multinationals of the "fourth capitalism" is their strong customer focus and organizational effort to provide their services to the customers, which require substantial investment in immaterial assets. Finally, the work highlights some external constraints that penalize the Italian multinational enterprises of the "fourth capitalism", as the high cost of bureaucracy, excessive and unfair taxation lack of support to internationalization by public institutions.

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Bibliographic Info

Article provided by Association for Sustainable Education, Research and Science in its journal Journal of Advanced Research in Management.

Volume (Year): II (2011)
Issue (Month): 2 (December)
Pages: 89-103

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Handle: RePEc:srs:jarm12:3:v:2:y:2011:i:2:p:89-103

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Web page: http://www.asers.eu/journals/jarm.html

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Keywords: Italian multinational firms; fourth capitalism; innovation; internationalization.;

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References

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  1. Elhanan Helpman, 2006. "Trade, FDI, and the Organization of Firms," Journal of Economic Literature, American Economic Association, vol. 44(3), pages 589-630, September.
  2. Colli Andrea, 2005. "Il quarto capitalismo," L'industria, Società editrice il Mulino, issue 2, pages 219-236.
  3. Giorgio Barba Navaretti & Matteo Bugamelli & Fabiano Schivardi & Carlo Altomonte & Daniel Horgos & Daniela Maggioni, . "The global operations of European firms - The second EFIGE policy report," Blueprints, Bruegel, number 581, September.
  4. Timothy J. Sturgeon, 2005. "The Governance of Global Value Chains: Implications for State Action," IDB Publications 48618, Inter-American Development Bank.
  5. Matteo Bugamelli & Luigi Infante, 2003. "Sunk Costs of Exports," Temi di discussione (Economic working papers) 469, Bank of Italy, Economic Research and International Relations Area.
  6. Daniele Schilirò, 2008. "Investing in Knowledge: Knowledge, Human Capital and Institutions for the Long Run Growth," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn0804, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
  7. Robert Feenstra, 2003. "Integration Of Trade And Disintegration Of Production In The Global Economy," Working Papers 986, University of California, Davis, Department of Economics.
  8. Arndt, Sven W. & Kierzkowski, Henryk (ed.), 2001. "Fragmentation: New Production Patterns in the World Economy," OUP Catalogue, Oxford University Press, number 9780199243310, September.
  9. Hagedoorn, John, 1995. "Strategic technology partnering during the 1980s: Trends, networks and corporate patterns in non-core technologies," Research Policy, Elsevier, vol. 24(2), pages 207-231, March.
  10. Acs, Zoltan J & Audretsch, David B, 1988. "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, American Economic Association, vol. 78(4), pages 678-90, September.
  11. Daniele Schilirò & Maria Musca, 2010. "Le Medie Imprese Multinazionali del Quarto Capitalismo," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn1002, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
  12. Francesca De Girolamo & Lucia Piscitello, 2010. "Il successo internazionale delle PMI italiane: quali competenze distintive?," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2010(3), pages 189-200.
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Cited by:
  1. Musca, Maria & Schilirò, Daniele, 2012. "An investigation into medium-sized multinational enterprises," MPRA Paper 43012, University Library of Munich, Germany.
  2. Schilirò, Daniele, 2013. "I patti di sviluppo dei distretti produttivi in Sicilia: 2011-2013
    [The development pacts of productive districts in Siciliy: 2011-2013]    ," MPRA Paper 43678, University Library of Munich, Germany.
  3. Schilirò, Daniele, 2012. "Italian medium-sized enterprises and the fourth capitalism," MPRA Paper 41399, University Library of Munich, Germany.

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