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

  • Barbara ERMINI

    ()

    (Universita' Politecnica delle Marche, Dipartimento di Economia)

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