Size, Structure, and Strategies: Insolvency and "The Nature of the Firm" in Italy, 1920S-1970S
AbstractDuring the Twentieth century, Italian joint-stock companies remained relatively small and tended to die young. This fact constrained the development of the full potential of the Italian industry, as small-dimensioned companies struggled to implement the most efficient technologies and managerial techniques. This paper analyses this problem by looking at the functioning of insolvency procedures. Using quantitative and qualitative evidence, we show how various devices that progressively appeared on the scene failed in providing efficient solutions to re-start worthy companies. Insolvency procedures thus remained liquidation-prone, a factor that contributes to explain the peculiarity and the limits of Italian industrial capitalism.
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Bibliographic InfoPaper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 515.
Date of creation: Oct 2007
Date of revision:
Find related papers by JEL classification:
- N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
- N84 - Economic History - - Micro-Business History - - - Europe: 1913-
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-17 (All new papers)
- NEP-CSE-2007-11-17 (Economics of Strategic Management)
- NEP-ENT-2007-11-17 (Entrepreneurship)
- NEP-HIS-2007-11-17 (Business, Economic & Financial History)
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