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Le medie imprese multinazionali del “quarto capitalismo”
[Medium sized multinationals of "fourth capitalism"]

Author

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  • Schilirò, Daniele
  • Musca, Maria

Abstract

The paper provides an analysis of the internationalization of medium-size Italian industrial enterprises that aims to become multinational companies. This work takes inspiration from the essay by Mariotti and Mutinelli (2009) on the evolution of Italian multinational enterprises and the role of “fourth capitalism”, but it differs from essay of these authors because it adopts different databases and it looks at many other variables apart from employment, which is instead the only variable used by Mariotti and Mutinelli. Moreover, the present paper concentrates specifically on industrial multinational firms of “fourth capitalism”, that is the set of the medium and medium-large firms that mostly grow in the foreign markets either through exports or through foreign direct investment. It also offers an empirical descriptive picture regarding the performance of medium-size Italian multinational enterprises with respect to large multinational companies and also against those medium size enterprises that are not multinational companies because they are poorly equipped to deal with the internationalization process in its complexity and its risks. However, the descriptive analysis provided allow us to draw a profile of medium-sized multinational companies characterized by a complex strategy towards internationalization, where innovation has a key role, but equally important are the flexibility and specialization in production, since even these latter elements guide the choices to invest and produce abroad. But it is also important the commercial dimension, that leads to point to the direct supervision of foreign markets and looking very carefully to customers, offering them a wide range of services. Finally, the paper points out some critical issues such as high taxation, insufficient institutional support for internationalization, the high external costs, such as energy, lack of skilled human capital available in the labor market due to inadequate policy training.

Suggested Citation

  • Schilirò, Daniele & Musca, Maria, 2010. "Le medie imprese multinazionali del “quarto capitalismo” [Medium sized multinationals of "fourth capitalism"]," MPRA Paper 78946, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:78946
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    References listed on IDEAS

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    1. Giorgio Barba Navaretti & Matteo Bugamelli & Fabiano Schivardi & Carlo Altomonte & Daniel Horgos & Daniela Maggioni, . "The global operations of European firms - The second EFIGE policy report," Blueprints, Bruegel, number 581, December.
    2. Thierry Mayer & Gianmarco Ottaviano, 2008. "The Happy Few: The Internationalisation of European Firms," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 43(3), pages 135-148, May.
    3. Elhanan Helpman, 2006. "Trade, FDI, and the Organization of Firms," Journal of Economic Literature, American Economic Association, vol. 44(3), pages 589-630, September.
    4. Bruegel, 2010. "The global operations of European firms," Policy Briefs 411, Bruegel.
    5. Daniele Schilirò, 2008. "I distretti industriali in Italia quale Modello di Sviluppo Locale: Aspetti evolutivi, potenzialità e criticità," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn0803, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
    6. Marco Mutinelli & Sergio Mariotti, 2009. "L'evoluzione delle imprese multinazionali italiane e il ruolo del quarto capitalismo," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 36(1), pages 123-134.
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    Cited by:

    1. Schilirò, Daniele, 2011. "Innovation and performance of Italian multinational enterprises of the “fourth capitalism”," MPRA Paper 34916, University Library of Munich, Germany.
    2. Schilirò, Daniele, 2011. "Performance e profili delle imprese multinazionali del quarto capitalismo [Performance and profiles of the multinational firms of fourth capitalism]," MPRA Paper 30894, University Library of Munich, Germany.
    3. Musca, Maria & Schilirò, Daniele, 2012. "An investigation into medium-sized multinational enterprises," MPRA Paper 43012, University Library of Munich, Germany.
    4. Schilirò, Daniele, 2012. "Italian medium-sized enterprises and the fourth capitalism," MPRA Paper 41399, University Library of Munich, Germany.

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    More about this item

    Keywords

    medium-sized enterprises; medium-large firms; Italian firms; internationalization; innovation;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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