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La manifattura in Italia nell’ultimo decennio, sulle spalle dei… nani


  • Daniela Venanzi

    () (Università di Roma Tre)


How has the Italian manufacturing changed in the last decade? The empirical evidence shows that large size did not outperform the medium-small size. “Giants” appear less profitable, riskier and financially weaker when compared to “dwarfs”, that appear better performers, financially stronger and more able to face the crises (the gap increases in troubled periods). Furthermore, the medium-sized firms, which operate in district areas, outperformed the counterparts operating in the context of large firms. If we distinguish myth from reality, it seems clear that size effect does not win in terms of performance and risk. Policy makers could derive useful insights

Suggested Citation

  • Daniela Venanzi, 2012. "La manifattura in Italia nell’ultimo decennio, sulle spalle dei… nani," Rivista di Politica Economica, SIPI Spa, issue 3, pages 155-190, July-Sept.
  • Handle: RePEc:rpo:ripoec:y:2012:i:3:p:155-190

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    More about this item


    size effect on performance and risk; trends in Italian manufacturing; MSEs in industrial districts;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics


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