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Profit-sharing, Technical Efficiency Change and Finance Constraints

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Author Info

  • Ornella Maietta

    (University of Naples, Italy)

  • Vania Sena

    (University of Leeds, UK)

Abstract

This paper analyses the mechanisms through which profit-sharing schemes may induce debt constrained firms to improve technical efficiency over time to guarantee positive profits. This hypothesis is first formalised in a partial equilibrium framework and then is tested on a sample of Italian traditional and cooperative firms. Technical efficiency change indexes are computed by DEA. These are regressed on a measure of finance constraints to analyse their impact on firms' efficiency growth. The results support the hypothesis that a restriction in the availability of financial resources can affect positively the growth in efficiency in firms with profit-sharing schemes.

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File URL: http://128.118.178.162/eps/mic/papers/0405/0405006.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Microeconomics with number 0405006.

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Date of creation: 21 May 2004
Date of revision:
Handle: RePEc:wpa:wuwpmi:0405006

Note: Type of Document - pdf. Tables and Figure 1 are in two separate (pdf) files
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Web page: http://128.118.178.162

Related research

Keywords: Finance Constraints; Technical Efficiency and Profit Sharing;

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Cited by:
  1. Fathi Fakhfakh & Virginie Perotin & Monica Gago, 2011. "Productivity, Capital and Labor in Labor-Managed and Conventional Firms," TEPP Working Paper 2011-08, TEPP.
  2. D'Alessio, Massimiliano & Maietta, Ornella Wanda, 2008. "The Determinants Of Innovation In The Italian Food Industry: The Role Of R&D Networking," 109th Seminar, November 20-21, 2008, Viterbo, Italy 44856, European Association of Agricultural Economists.
  3. Fathi Fakhfakh & Virginie PĂ©rotin & Monica Gago, 2011. "Productivity, Capital and Labor in Labor-Managed and Conventional Firms," Working Papers halshs-00838518, HAL.
  4. Fathi Fakhfakh & Virginie P?rotin & Monica Gago, 2012. "Productivity, Capital, and Labor in Labor-Managed and Conventional Firms in France," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 65(4), pages 847-879, October.

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