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Firms’ heterogeneity and performance in manufacturing during the great recession

Listed author(s):
  • 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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File URL: http://swrwebeco.econ.unipr.it/RePEc/pdf/I_2015-03.pdf
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Paper provided by Department of Economics, Parma University (Italy) in its series Economics Department Working Papers with number 2015-EP03.

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Length: 32 pages
Date of creation: 2015
Handle: RePEc:par:dipeco:2015-ep03
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