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Oltre Gibrat. Capitale umano dei fondatori, endogeneita' del finanziamento pubblico e crescita delle giovani imprese hi-tech italiane

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  • Barbara ERMINI

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    (Universita' Politecnica delle Marche, Dipartimento di Economia)

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    Abstract

    Questo lavoro sviluppa un'analisi empirica delle determinanti della crescita dimensionale di un panel di 510 giovani imprese hi-tech italiane nel periodo tra il 1990 e il 2001. Inizialmente, si esamina la relazione tra crescita d'impresa da un lato e dimensione e eta' dall'altro. L'analisi si concentra quindi sulla valutazione dell'impatto sulla crescita d'impresa del capitale umano dei fondatori e di un finanziamento pubblico selettivo focalizzando l'attenzione sulle conseguenze di una possibile endogeneita' del finanziamento pubblico al capitale umano dei fondatori. I risultati evidenziano che le imprese piu' piccole crescono piu' velocemente. Contrariamente all'evidenza dominante, l'eta' ha un impatto positivo; la particolare natura del settore high-tech puo' spiegare questo risultato. La crescita d'impresa Š inoltre influenzata dalle caratteristiche del capitale umano dei fondatori che descrivono la sua attitudine 'vocazionale' tecnico-scientifica, valutata a partire dalle scelte accademiche, e la sua esperienza di lavoro specifica nel settore. Se si introducono controlli per la possibile endogeneita' del finanziamento pubblico, emerge che l'accesso a sussidi pubblici selettivi non favorisce la crescita delle giovani imprese hi-tech Complessivamente, si suggerisce che vi sia un problema di auto-selezione nell'accesso ai finanziamenti pubblici da parte degli imprenditori piu' capaci.

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    Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 322.

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    Length: 32
    Date of creation: May 2008
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    Handle: RePEc:anc:wpaper:322

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    Related research

    Keywords: capitale umano; crescita di impresa; finanziamenti pubblici; imprese hi-tech; legge di Gibrat;

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    Cited by:
    1. Luca RICCETTI, 2010. "Minimum Tracking Error Volatility," Working Papers 340, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    2. Ugo FRATESI, 2010. "The National and International Effects;of Regional Policy Choices: Agglomeration Economies, Peripherality and Territorial Characteristics," Working Papers 344, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    3. Alberto Russo, 2014. "A Stochastic Model of Wealth Accumulation with Class Division," Metroeconomica, Wiley Blackwell, vol. 65(1), pages 1-35, 02.
    4. Lenzu, Simone & Tedeschi, Gabriele, 2012. "Systemic risk on different interbank network topologies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(18), pages 4331-4341.
    5. Eralba CELA & Tineke FOKKEMA & Elena AMBROSETTI, 2012. "Links Between Transnationalism Integration and Duration of Residence: The Case of eastern European Migrants in Italy," Working Papers 386, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    6. Fabio FIORILLO & Agnese SACCHI, 2010. "I Want to Free-ride. An Opportunistic View on Decentralization Versus Centralization Problem," Working Papers 346, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    7. Luca RICCETTI, 2011. "A Copula-GARCH Model for Macro Asset Allocation of a Portfolio with Commodities: an Out-of-Sample Analysis," Working Papers 355, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    8. Ruggero GRILLI & Gabriele TEDESCHI & Mauro GALLEGATI, 2012. "Markets connectivity and financial contagion," Working Papers 382, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

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