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Firms’ heterogeneity and performance in manufacturing during the great recession


  • A. Arrighetti


  • R. Brancati


  • A. Lasagni


  • A. Maresca



This paper highlights how the heterogeneity of manufacturing firms impacted their performance and survival during the “Great Recession”. The findings indicate that firms that assumed a strategically proactive and innovative strategy in the pre-crisis period showed better economic performance during the crisis in terms of both sales and value added. The evidence also shows that the youngest firms and those that had a lower level of financial exposure were favored in terms of performance. Finally, the results also confirm the increased importance of different technological regimes. In contrast, survival estimates demonstrate the non-significance of pre-crisis strategic profiles: ceteris paribus, the results indicate that the most innovative, internationalized and dynamic firms did not register a greater likelihood of survival than other businesses. This result casts doubt on the efficiency and direction of the selection process.

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  • A. Arrighetti & R. Brancati & A. Lasagni & A. Maresca, 2015. "Firms’ heterogeneity and performance in manufacturing during the great recession," Economics Department Working Papers 2015-EP03, Department of Economics, Parma University (Italy).
  • Handle: RePEc:par:dipeco:2015-ep03

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    Cited by:

    1. Golikova Victoria & Kuznetsov Boris, 2016. "The Role of Innovation and Globalization Strategies in Post-Crisis Recovery," HSE Working papers WP BRP 123/EC/2016, National Research University Higher School of Economics.
    2. A. Arrighetti & F. Landini & A. Lasagni, 2016. "Swimming Upstream Throughout the Turmoil: Evidence on Firm Growth During the Great Recession," Economics Department Working Papers 2016-EP04, Department of Economics, Parma University (Italy).
    3. A. Arrighetti & F. Landini & A. Lasagni, 2015. "Firms’economic crisis and firm exit: do intangibles matters?," Economics Department Working Papers 2015-EP04, Department of Economics, Parma University (Italy).
    4. Landini, Fabio & Arrighetti, Alessandro & Lasagni, Andrea, 2015. "Economic Crisis and Firm Exit: Do Intangibles Matter?," SEP Working Papers 2015/10, LUISS School of European Political Economy.

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    Crisis and Restructuring; Heterogeneity; Growth; Firms’ Performance; Firms’ Survival; Manufacturing Industry; Italy;

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