'Effetto distretto': esiste ancora?
AbstractThe profound change in the international competitive environment is affecting Italian industrial districts, whose value chains are becoming increasingly open. This may result in a loss of the competitive advantages originating in the local sharing of professional skills and productive knowledge. In this case industrial district spillovers may disappear. In this paper, the analysis of a representative sample of balance sheets extracted from the Intesa Sanpaolo database shows that “localisation advantages” in terms of sales and profitability were significant in the first half of the 1990s and disappeared thereafter. In particular, from 2002 to 2005 industrial districts show levels of ROI significantly lower than the values observed in firms located outside and specialising in the same sectors. This poor performance is explained by inferior mark-ups and diminishing advantages offered by the high degree of labour division among firms.
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Bibliographic InfoArticle provided by Rosenberg & Sellier Editori in Torino srl in its journal Sviluppo Locale.
Volume (Year): 13 (2008-09)
Issue (Month): 31 ()
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Web page: http://www.rosenbergesellier.it/
industrial district; ROI; leverage;
Find related papers by JEL classification:
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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