@inbook {Giannini2023, title = {The Role of Internal Capital Market in Business Groups}, booktitle = {The Palgrave Handbook of Managing Family Business Groups}, year = {2023}, pages = {49{\textendash}64}, publisher = {Springer International Publishing}, organization = {Springer International Publishing}, address = {Cham}, abstract = {The aim of this chapter is to discuss the role played by the internal capital market in business groups, the results so far achieved by the literature and to open new lines of research on how these internal flows influence the relations between companies belonging to the same group and in particular the relation between the head and its subsidiaries. The internal capital market may play a dual role. The first is that the presence of internal capital flows within a group can make it easier for companies to survive an external shock, such as an economic-financial crisis. The second is that the internal capital market facilitates the allocation of resources to investment projects, in particular innovative projects, for which it could be difficult to raise external funds. Most of this literature is focused mainly on large groups, undervaluing the relevance and the implications of small and medium-sized business groups.}, isbn = {978-3-031-13206-3}, doi = {10.1007/978-3-031-13206-3_3}, url = {https://doi.org/10.1007/978-3-031-13206-3_3}, author = {Giannini, Valentina and Iacobucci, Donato}, editor = {Rautiainen, Marita and Parada, Maria Jos{\'e} and Pihkala, Timo and Akhter, Naveed and Discua Cruz, Allan and Mukherjee, Kajari} } @article {doi:10.1080/08985626.2022.2115559, title = {How local geography shapes firm geography}, journal = {Entrepreneurship \& Regional Development}, volume = {34}, number = {9-10}, year = {2022}, pages = {955-976}, publisher = {Routledge}, doi = {10.1080/08985626.2022.2115559}, url = {https://doi.org/10.1080/08985626.2022.2115559}, author = {Giulio Cainelli and Valentina Giannini and Donato Iacobucci} } @article {Chioatto2022, title = {Transition from waste management to circular economy the European Union roadmap}, journal = {Environment, Development and Sustainability}, year = {2022}, month = {Jan}, abstract = {In the last twenty years, the European Union (EU) has enhanced Waste Management (WM) strategies toward Circular Economy (CE). Starting from the previous analysis carried out by Fabrizi and Sospiro (Waste Management in Europe A Comparative Study of the main EU countries Methodology and Evaluation of Local Waste Management System, Lambert Publisher, Saarb{u}cken, Germany, 2017), this article analyses firstly EU Member States (MSs) Roadmap toward Sustainable Waste Management (SWM) and secondly to CE. The research relied on Kirchherr et al. (Kirchherr in Ecological Economics 150264{\textendash}272, 2018) study which identified four barriers to CE (cultural, regulatory, market failure, and technological). The regulatory framework has been analysed. Four case studies (France, FR, Germany, DE, Italy, IT, the Netherlands, NL) have been selected to investigate criteria, methodologies, policies, implementation and outcomes on SWM at national level. In addition, given MSs coordination at EU level the research aimed at analysing whether is there any convergence in terms of policies and achievements. The study considered recent findings on CE, Eurostat data, and Eurostat Circular Material Use (CMU) indicator. The analysis revealed SWM positive results, which seem to confirm a certain degree of convergence between EU-MSs that consists in a positive cascade mechanism from advanced toward less advanced MSs. In spite of this, EU countries need a further step in order to close materials{\textquoteright} loops. Larger quantity of Secondary Raw Materials (SRMs) should return to manufacture, and this requires stronger intervention that goes beyond the waste sector. In light of this, the EU Commission recently entrusted the Joint Research Centre (JRC) to assess and compare the environmental impacts of alternative feedstock for plastic products. This reveals EU attempt to re-balance the intervention on CE, by striving new products{\textquoteright} design approaches.}, issn = {1573-2975}, doi = {10.1007s10668-021-02050-3}, url = {httpsdoi.org10.1007s10668-021-02050-3}, author = {Chioatto, Elisa and Sospiro, Paolo} } @article {629, title = {Labour flexibility, internal migration and productivity in Italian regions}, journal = {Structural Change and Economic Dynamics}, volume = {57}, year = {2021}, pages = {308-320}, abstract = {This paper provides an empirical analysis of the Italian total factor productivity (TFP) growth for the 1995-2012 period that takes into account the factors explaining cross-regional differences in productivity growth. We focus on the changes in the quality of labor caused by the increasing use of temporary workers and on the migration flows of human-capital, which almost unidirectionally moved from the Southern to the Northern-Centre regions. Empirical results provide evidence of a non-linearity (U-shaped) in the relationship between the use of temporary workers and TFP growth, which suggests that TFP growth in some Southern regions benefited from the increase in the share of temporary workers after the early 2000s, while regions in the Centre-North regions experienced an opposite effect, with the share of temporary workers being negatively related to TFP growth. Results also show that migration flows of qualified human capital had a positive impact on TFP growth in the regions of destinations, while the number of emigrants have a positive effect on the TFP growth in the regions of origin. {\textcopyright} 2021}, doi = {10.1016/j.strueco.2021.04.004}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85104906866\&doi=10.1016\%2fj.strueco.2021.04.004\&partnerID=40\&md5=aab9886f0044acb0b3ba62f2ef24ed1a}, author = {Calcagnini, G. and Marin, G. and Perugini, F.} } @article {599, title = {Discouraged Entrepreneurs and Persistence in Local Entrepreneurship. The Italian Case, 2001-2008}, journal = {L{\textquoteright}industria, Rivista di economia e politica industriale}, year = {2020}, pages = {155{\textendash}172}, publisher = {Societ{\`a} editrice il Mulino}, keywords = {Entrepreneurial Rate, Entrepreneurship, Local Production Systems, Path-Dependence, Persistence}, issn = {0019-7416}, doi = {10.1430/97175}, url = {https://www.rivisteweb.it/doi/10.1430/97175}, author = {Giulio Cainelli and Donato Iacobucci and Alessandra Micozzi} } @article {doi:10.1080/09654313.2020.1778644, title = {Spatial networking and firms{\textquoteright} organization. The case of Italy}, journal = {European Planning Studies}, year = {2020}, pages = {1-19}, publisher = {Routledge}, doi = {10.1080/09654313.2020.1778644}, url = {https://doi.org/10.1080/09654313.2020.1778644}, author = {Giulio Cainelli and Valentina Giannini and Donato Iacobucci} } @article {579, title = {Agglomeration, networking and the Great Recession}, journal = {Regional Studies}, volume = {53}, year = {2019}, pages = {951-962}, publisher = {Routledge}, abstract = {

This paper analyzes how and to what extent firms{\textquoteright} external relations, such as belonging to a local cluster or a business group, affect the probability of firm survival and economic performance after the 2008 Great Recession. Using a large data set of Italian manufacturing companies for the period 2005{\textendash}12, it was found that belonging to a business group or a local cluster mitigates the selection effect determined by the real and financial shocks, while in the case of firms not belonging to groups, only the more efficient units survive. This means that firms belonging to a group or local cluster are expected to show a lower likelihood of failure and also lower performance compared with stand-alone firms. {\textcopyright} 2018, {\textcopyright} 2018 Regional Studies Association.

}, keywords = {agglomeration, business, data set, economic analysis, financial crisis, Italy, manufacturing, networking, probability}, issn = {00343404}, doi = {10.1080/00343404.2018.1511892}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85053309295\&doi=10.1080\%2f00343404.2018.1511892\&partnerID=40\&md5=614bc6c55f4bf2ab7f9e3f8384b4eef6}, author = {Cainelli, G. and Giannini, V. and Iacobucci, D.} } @article {596, title = {Bank foundations, social capital and the growth of Italian provinces}, journal = {Regional Studies}, volume = {53}, year = {2019}, pages = {231-244}, publisher = {Routledge}, abstract = {

The funding role of bank foundations in the Italian economy, especially to the non-profit sector, significantly increased over the last 25 years. This paper constructs a novel measure of social capital at the provincial level that explicitly takes into account the bank foundations{\textquoteright} sectors of intervention (such as education, public health, and art and culture), together with other traditional aspects of social capital, and then tests the impact of bank foundations on the economic growth of Italian provinces. The findings suggest that the contribution of bank foundations to social capital positively affects the economic growth of provinces. {\textcopyright} 2018, {\textcopyright} 2018 Regional Studies Association.

}, keywords = {banking, economic growth, economic impact, Italy, regional development, social capital}, issn = {00343404}, doi = {10.1080/00343404.2018.1455971}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85044974106\&doi=10.1080\%2f00343404.2018.1455971\&partnerID=40\&md5=a2480a72d8e44fd106375170775215e3}, author = {Calcagnini, G. and Giombini, G. and Perugini, F.} } @article {572, title = {The geography of venture capital and entrepreneurial ventures{\textquoteright} demand for external equity}, journal = {Research Policy}, year = {2019}, month = {jan}, publisher = {North-Holland}, abstract = {

In this paper, we study how the geography of venture capital (VC) and the location of entrepreneurial ventures affect the propensity of the latter to seek external equity financing. We analyse a sample of 533 European high-tech entrepreneurial ventures and examine their external equity-seeking behaviour in the 1984{\textendash}2009 period. We find that ventures are more likely to seek external equity when the local availability of VC is higher, whereas the level of competition of the local VC market plays a negligible role. The stimulating effect of the availability of VC on the demand for external equity rapidly decreases with distance and vanishes at approximately 250 km. It also vanishes when national borders are crossed, except for countries at close cultural and institutional distance. Moreover, the distance decay of the stimulating effect of the availability of VC varies with the characteristics of prospective VC investors, namely, their private or public ownership and governance, and their reputation. These results have important implications for the policy that European countries and the European Commission should implement to foster the demand for VC by entrepreneurial ventures, thereby improving the functioning of the VC market in Europe.

}, issn = {0048-7333}, doi = {10.1016/J.RESPOL.2018.12.004}, url = {https://www.sciencedirect.com/science/article/pii/S0048733318303044?via{\%}3Dihub}, author = {Colombo, Massimo G. and D{\textquoteright}Adda, Diego and Quas, Anita} } @article {594, title = {Income distribution dynamics among Italian provinces. The role of Bank Foundations}, journal = {Applied Economics}, volume = {51}, year = {2019}, pages = {3198-3211}, publisher = {Routledge}, abstract = {

This paper investigates the convergence process and the distribution dynamics of income among Italian NUTS-3 provinces between 2003 and 2011. Findings show the existence of multiple steady-state equilibria which is consistent with the well-documented persistence in income disparities among Italian provinces. The role of grant-making activities by Bank Foundations is assessed on a conditioning scheme. Results suggest that Bank Foundations can affect the shape of the distribution of income and, in the long run, reduce polarization with a tendency for income to collapse towards a unimodal distribution. {\textcopyright} 2019, {\textcopyright} 2019 Informa UK Limited, trading as Taylor \& Francis Group.

}, keywords = {banking, convergence, income distribution, Italy}, issn = {00036846}, doi = {10.1080/00036846.2019.1572866}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85061431000\&doi=10.1080\%2f00036846.2019.1572866\&partnerID=40\&md5=b04d4ccf7eec9541674ca1ee3e6fe5bf}, author = {Calcagnini, G. and Perugini, F.} } @article {581, title = {Small firms and bank financing in bad times}, journal = {Small Business Economics}, year = {2019}, publisher = {Springer New York LLC}, abstract = {

This paper aims to analyze access to bank financing by small firms belonging to business groups compared to independent firms. We consider Italian manufacturing firms during the severe credit-crunch during 2010{\textendash}2012 caused by the financial crisis and subsequent domestic recession. We expect belonging to a business group to facilitate access to bank financing as the result of two different mechanisms: (i) the implicit guarantee provided by group belonging (affiliation effect) and (ii) the transfer of resources via the internal capital market (portfolio effect). The empirical evidence confirms our hypotheses. Belonging to a business group facilitates access to bank financing, while the presence of an internal capital market, which substitutes for both the decision to obtain bank financing and the amount borrowed, makes firms that are part of a business group less dependent than independent firms on this type of financing. {\textcopyright} 2019, Springer Science+Business Media, LLC, part of Springer Nature.

}, issn = {0921898X}, doi = {10.1007/s11187-019-00164-7}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85064335540\&doi=10.1007\%2fs11187-019-00164-7\&partnerID=40\&md5=2f70a062bfa23a6d83401a672dba9a25}, author = {Cainelli, G. and Giannini, V. and Iacobucci, D.} } @article {632, title = {Social capital and well-being in the Italian provinces}, journal = {Socio-Economic Planning Sciences}, volume = {68}, year = {2019}, abstract = {Recent years witnessed a growing interest in the concept of well-being and quality of life, as alternative to the Gross Domestic Product (GDP). The determinants of well-being, especially at the regional and provincial levels, is understudied in a macro perspective, as opposed to a micro perspective (individuals, survey data) that has been the dominant approach until recently. In this paper, we estimate an empirical model for the Italian NUTS-3 provinces to evaluate the role of social capital on well-being by using aggregated (provincial) data. Our findings suggest that social capital, social security programs, income, and grant-making activities by Bank Foundations, even though not uniformly distributed across Italy, positively affect well-being, thus contributing to explain the persistent dualism that characterizes the Italian economy. {\textcopyright} 2018 The Authors}, doi = {10.1016/j.seps.2018.11.005}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85056846793\&doi=10.1016\%2fj.seps.2018.11.005\&partnerID=40\&md5=c34cf27d6aa5063da9ffe058003672f0}, author = {Calcagnini, G. and Perugini, F.} } @article {578, title = {Vertical relatedness and services outsourcing: A firm-level analysis}, journal = {Industrial and Corporate Change}, volume = {28}, year = {2019}, pages = {753-771}, publisher = {Oxford University Press}, abstract = {

This paper analyzes the relationship between local-level vertical relatedness and firms{\textquoteright} services outsourcing, using a data set of 46,671 Italian manufacturing firms observed over the period 1999-2007. The analysis uses a firm-level index of services outsourcing based on the Adelman index, and it proposes a new measure of vertical relatedness. Overall, the results suggest that it is not agglomeration per se that matters for services outsourcing but rather the presence of vertically related industries. The role of firm-level heterogeneity in terms of size, geographic location, and technological regime also emerges. {\textcopyright} 2018 The Author(s) 2018. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.

}, keywords = {data set, heterogeneity, Italy, manufacturing, outsourcing}, issn = {09606491}, doi = {10.1093/icc/dty038}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85073530269\&doi=10.1093\%2ficc\%2fdty038\&partnerID=40\&md5=d73132d61bc21fff0464b43c83894926}, author = {Cainelli, G. and Ganau, R. and Iacobucci, D.} } @article {595, title = {A Well-Being Indicator for the Italian Provinces}, journal = {Social Indicators Research}, volume = {142}, year = {2019}, pages = {149-177}, publisher = {Springer Netherlands}, abstract = {

In recent years, a significant number of papers has been published providing alternative measures of progress and well-being to Gross Domestic Product. Most of these papers differs in terms of their theoretical approach as well as their purpose and statistical methodology used to define what well-being is and how to measure it. In this paper, we construct a well-being indicator for the Italian provinces that shows a high degree of heterogeneity not only between the Northern and Southern Italian provinces, but also among adjacent provinces. {\textcopyright} 2018, Springer Science+Business Media B.V., part of Springer Nature.

}, keywords = {civil society, Gross Domestic Product, Italy, quality of life, socioeconomic indicator, territory}, issn = {03038300}, doi = {10.1007/s11205-018-1888-1}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85044543892\&doi=10.1007\%2fs11205-018-1888-1\&partnerID=40\&md5=12e20f4b00963d996888aa47c308a449}, author = {Calcagnini, G. and Perugini, F.} } @article {Cainelli2018, title = {Agglomeration, networking and the Great Recession}, journal = {Regional Studies}, year = {2018}, note = {cited By 0; Article in Press}, doi = {10.1080/00343404.2018.1511892}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85053309295\&doi=10.1080\%2f00343404.2018.1511892\&partnerID=40\&md5=614bc6c55f4bf2ab7f9e3f8384b4eef6}, author = {Cainelli, G. and Giannini, V. and Iacobucci, D.} } @article {Cainelli2017365, title = {Business groups and the great recession in Italy [I gruppi d{\textquoteright}impresa e la grande recessione]}, journal = {Industria}, volume = {38}, number = {3}, year = {2017}, note = {cited By 0}, pages = {365-383}, doi = {10.1430/88849}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85045927415\&doi=10.1430\%2f88849\&partnerID=40\&md5=16b9c0c23e26ef49ad30dbaf659d095e}, author = {Cainelli, G. and Giannini, V. and Iacobucci, D.} } @article {590, title = {Entrepreneurial activity and education in Italy}, journal = {Industria}, volume = {38}, year = {2017}, pages = {385-409}, publisher = {Societa Editrice il Mulino}, abstract = {

The paper contributes to the empirical literature about the relationship between formal education attainments, specific entrepreneurship training and firm formation process. Data come from the Global Entrepreneurship Monitor (gem) survey, which collects information on business formation in many countries. After a validation check of gem entrepreneurship measures with Labour Force Survey{\textquoteright}s, the paper presents a descriptive comparative analysis of new firm formation process in Italy and other eu countries, looking at how it is related to gender, education, and other specific characteristics of the new firms. Results confirm anecdotic evidence: in Italy much has to be done to foster high-tech and high job growth entrepreneurship. gem 2008 survey gives a flavour of the diffusion of entrepreneurship training in Europe. Italy appears to lag behind other countries in this respect. Controlling for many factors, the empirical model tests the probability of becoming entrepreneur in Italy: it is estimated to be higher than in other countries, but higher education attainments are related to lower probabilities of starting a business. Moreover, specific entrepreneurship education in Italy results to negatively affect the starting-up decisions. {\textcopyright} 2017 Federico Butera e Fondazione Irso.

}, issn = {00197416}, doi = {10.1430/88850}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-85045927974\&doi=10.1430\%2f88850\&partnerID=40\&md5=bfdfd97596803e1d41cb62c43f34ca1c}, author = {Curci, N. and Micozzi, A.} } @article {60034, title = {Gruppi di impresa e distretti industriali nel nordest}, journal = {ECONOMIA E SOCIET{\`A} REGIONALE}, number = {2}, year = {2017}, abstract = {Scopo principale di questo lavoro {\`e} quello di fornire un quadro sulla presenza dei gruppi d{\textquoteright}impresa nelle regioni del Nordest, con particolare riferimento alle imprese manifatturiere ubicate nelle aree distrettuali. Il distretto industriale come il gruppo rappresentano due modalit{\`a} alternative di fare networking. L{\textquoteright}idea di fondo {\`e} che sia il distretto sia l{\textquoteright}appartenenza al gruppo hanno supportato le imprese durante la crisi economico-finanziaria permettendo la sopravvivenza anche di quelle meno performanti. Le analisi presentate sono in linea con le nostre ipotesi. Dopo lo shock causato dalla Grande Recessione del 2008, le imprese sopravvissute sono state quelle localizzate all{\textquoteright}interno dei distretti o quelle appartenenti ai gruppi di impresa.} url={http://www.francoangeli.it/Riviste/Scheda_rivista.aspx?idArticolo=60034}, issn = {2038-6745}, doi = {10.3280/ES2017-002008}, author = {Giulio Cainelli and Valentina Giannini and Donato Iacobucci pages=85-93} } @article {GROW:GROW12112, title = {Do Geographic Concentration and Vertically Related Variety Foster Firm Productivity? Micro-Evidence from Italy}, journal = {Growth and Change}, volume = {47}, number = {2}, year = {2016}, pages = {197{\textendash}217}, abstract = {Using a large unbalanced panel dataset of more than 12,000 Italian manufacturing firms for the period 1999{\textendash}2007, this paper investigates the role of geographic concentration and related variety on firms{\textquoteright} total factor productivity (TFP). The main idea is that diversification{\textemdash}captured by a measure of vertically related variety{\textemdash}promotes firm innovativeness and, consequently, productivity, but when the technology has been consolidated, firms join specialized clusters that enhance efficiency. Our results suggest that the effect on firms{\textquoteright} TFP of geographic concentration is stronger than that of related variety. We also confirm previous findings on the relevance of agglomeration forces for small firms compared with medium and large firms, where these agglomerative forces do not seem to influence TFP.}, issn = {1468-2257}, doi = {10.1111/grow.12112}, url = {http://dx.doi.org/10.1111/grow.12112}, author = {Cainelli, Giulio and Ganau, Roberto and Iacobucci, Donato} } @article {586, title = {Local variety and firm diversification: An evolutionary economic geography perspective}, journal = {Journal of Economic Geography}, volume = {16}, year = {2016}, pages = {1079-1100}, publisher = {Oxford University Press}, abstract = {

The aim of this article is to investigate whether and how local agglomeration forces-related and unrelated variety-influence firm diversification. Using a large dataset of 5112 Italian manufacturing business groups for the year 2001, and estimating Tobit models, we show the {\textquoteright}consistency{\textquoteright} between the patterns of firm diversification and that of the local system in which the firm is located. Specifically, firms located in local systems dominated by unrelated variety are more likely to show unrelated diversification patterns, while firms located in local systems dominated by related variety are more likely to show related diversification patterns. This supports the Evolutionary Economic Geography prediction of firm similarity {\textquoteright}within{\textquoteright} the same local system, and firm heterogeneity {\textquoteright}between{\textquoteright} different local systems. {\textcopyright} The Author (2015). Published by Oxford University Press.

}, keywords = {agglomeration, economic geography, heterogeneity, Italy, manufacturing}, issn = {14682702}, doi = {10.1093/jeg/lbv040}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-84991358593\&doi=10.1093\%2fjeg\%2flbv040\&partnerID=40\&md5=2df594c1e634fdf0a03cda9b19d3f804}, author = {Cainelli, G. and Iacobucci, D.} } @article {colombo_participation_2016, title = {The participation of new technology-based firms in EU-funded R\&D partnerships: The role of venture capital}, journal = {Research Policy}, volume = {45}, number = {2}, year = {2016}, pages = {361{\textendash}375}, abstract = {

This paper investigates the participation of new technology-based firms (NTBFs) in EU-funded R\&D partnerships. We examine whether venture capital (VC)-backed firms are more likely to enter these partnerships than their non VC-backed peers and the role of the ownership and governance of the VC investor. We resort to a mixed method approach. We use qualitative information collected through interviews with managers of NTBFs and VC firms to better illustrate our deductively derived theoretical hypotheses, that are then tested through a large scale econometric analysis. The econometric analysis takes advantage of the VICO dataset, which includes longitudinal data on 8346 NTBFs from seven European countries observed from 1995 to 2008, out of which 758 were VC-backed. The econometric results show that VC backing has a strong positive impact on NTBFs{\textquoteright} participation in EU-funded R\&D partnerships, but the magnitude of this effect rapidly decreases with NTBFs{\textquoteright} prior experience of this type of partnership. Moreover, the magnitude of the impact of VC backing considerably differs depending on the type of investor with bank and government VC exhibiting the strongest positive effects.

}, keywords = {Entrepreneurship}, issn = {0048-7333}, doi = {10.1016/j.respol.2015.10.011}, url = {http://www.sciencedirect.com/science/article/pii/S004873331500164X}, author = {Colombo, Massimo G. and D{\textquoteright}Adda, Diego and Pirelli, Lorenzo H.} } @article {634, title = {The role of universities in the location of innovative start-ups}, journal = {Journal of Technology Transfer}, volume = {41}, year = {2016}, pages = {670-693}, abstract = {Start-ups increasingly find the prospect of university{\textendash}industry collaborations to be a powerful driver of innovation and entrepreneurship activity. Moreover, at the geographical level, they are attracted by teaching and research institutions, either public or private. This paper focuses on the role played by universities. Our hypothesis is that geographical proximity favors the transfer of knowledge and technology from universities to industries and, consequently, represents a positive factor for regional economic development. Results show that university spillovers are positively correlated with the creation of innovative start-ups. Furthermore, the presence of human capital (graduates) exerts a significant influence on the location decisions of start-ups, being a source for competitiveness for firms close to universities. Research quality, especially in the social sciences area, attracts innovative start-ups, while third-mission activities have a weak impact on locational choice. {\textcopyright} 2015, Springer Science+Business Media New York.}, doi = {10.1007/s10961-015-9396-9}, url = {https://www.scopus.com/inward/record.uri?eid=2-s2.0-84924135592\&doi=10.1007\%2fs10961-015-9396-9\&partnerID=40\&md5=7b87e5494bf74eaec8ef255a1747835e}, author = {Calcagnini, G. and Favaretto, I. and Giombini, G. and Perugini, F. and Rombaldoni, R.} } @article {Cainelli2015, title = {Do Geographic Concentration and Vertically Related Variety Foster Firm Productivity? Micro-Evidence from Italy}, journal = {Growth and Change}, year = {2015}, note = {cited By 0; Article in Press}, keywords = {Business Groups , Entrepreneurship}, doi = {10.1111/grow.12112}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84931351442\&partnerID=40\&md5=f0abefdeb2cbd51236eeb538bf93956f}, author = {D. Iacobucci and R. Ganau and G. Cainelli} } @article {doi:10.1093/jeg/lbv040, title = {Local variety and firm diversification: an evolutionary economic geography perspective}, journal = {Journal of Economic Geography}, volume = {16}, number = {5}, year = {2015}, pages = {1079}, doi = {10.1093/jeg/lbv040}, url = {+ http://dx.doi.org/10.1093/jeg/lbv040}, author = {Cainelli, Giulio and Iacobucci, Donato} } @article {Cainelli2015517, title = {Vertical Integration, Organizational Governance, and Firm Performance: Evidence from Italian Business Groups}, journal = {Managerial and Decision Economics}, volume = {36}, number = {8}, year = {2015}, note = {cited By 0}, pages = {517-527}, keywords = {Business Groups }, doi = {10.1002/mde.2691}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84946040574\&partnerID=40\&md5=ccc59850054956195f3021811fc692aa}, author = {D. Iacobucci and G. Cainelli} } @article {colombo_hybrid_2014, title = {Hybrid alliances and radical innovation: the performance implications of integrating exploration and exploitation}, journal = {The Journal of Technology Transfer}, volume = {40}, number = {4}, year = {2014}, pages = {696{\textendash}722}, abstract = {

In this paper we examine the innovation performance of hybrid alliances, that is, alliances that combine exploration and exploitation activities. While previous research has emphasized the tensions engendered by the combination of exploration and exploitation, we claim that the integration of these two types of activities can generate synergies as well. We argue that, in the case of alliances involving academic spin-offs (ASOs), these synergies may outweigh the tensions under specific conditions, and thus improve alliance innovation performance. Specifically, we hypothesize that the relative performance of exploitation activities is greater in hybrid alliances when the alliance has radical innovation outcomes. Conversely, the relative performance of exploration activities is greater in hybrid alliances when the alliance has incremental innovation outcomes. These hypotheses are tested using fine-grained data on a sample of 149 alliances involving European ASOs.

}, keywords = {Entrepreneurship}, issn = {0892-9912, 1573-7047}, doi = {10.1007/s10961-014-9363-x}, url = {http://link.springer.com/article/10.1007/s10961-014-9363-x}, author = {Colombo, Massimo G. and Doganova, Liliana and Piva, Evila and D{\textquoteright}Adda, Diego and Mustar, Philippe} } @article {croce_venture_2014, title = {Venture capital financing and the financial distress risk of portfolio firms: How independent and bank-affiliated investors differ}, journal = {Small Business Economics}, volume = {44}, number = {1}, year = {2014}, pages = {189{\textendash}206}, abstract = {

We analyze a sample of European high-tech entrepreneurial firms that received bank venture capital (BVC) financing between 1994 and 2004. We employ a {\textquotedblleft}two-step{\textquotedblright} matching procedure in order to build a control group composed of (1) comparable firms that received venture capital financing from independent investors (IVCs) and (2) comparable non-invested firms. The econometric analyses suggest that BVC investors are interested in the financial risk profile of the firms they invest in. In fact, before the first round of financing, BVC-backed firms show a lower risk of financial distress than both IVC-backed firms and non-invested firms. However, after the investment, BVC-backed firms exhibit a significant increase in debt exposure, compared to non-invested firms.

}, keywords = {Entrepreneurship}, issn = {0921-898X, 1573-0913}, doi = {10.1007/s11187-014-9582-4}, url = {http://link.springer.com/article/10.1007/s11187-014-9582-4}, author = {Croce, Annalisa and D{\textquoteright}Adda, Diego and Ughetto, Elisa} } @article {Cainelli2012255, title = {Agglomeration, Related Variety, and Vertical Integration}, journal = {Economic Geography}, volume = {88}, number = {3}, year = {2012}, note = {cited By 16}, pages = {255-277}, keywords = {Business Groups }, doi = {10.1111/j.1944-8287.2012.01156.x}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84861192863\&partnerID=40\&md5=323f7fb9c0cc879f94ec9f5d961396a8}, author = {D. Iacobucci and G. Cainelli} } @article {Cainelli20111549, title = {Business groups and the boundaries of the firm}, journal = {Management Decision}, volume = {49}, number = {9}, year = {2011}, note = {cited By 6}, pages = {1549-1573}, keywords = {Business Groups }, doi = {10.1108/00251741111173989}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-80054837155\&partnerID=40\&md5=38c31ad9e4ed26b441a0d3d59eadffea}, author = {D. Iacobucci and G. Cainelli} } @article {colombo_contribution_2009, title = {The contribution of university research to the growth of academic start-ups: an empirical analysis}, journal = {The Journal of Technology Transfer}, volume = {35}, number = {1}, year = {2010}, month = {mar}, pages = {113{\textendash}140}, abstract = {

The aim of this paper is to analyze empirically under which circumstances the universities located in a geographical area contribute to the growth of a special category of local new technology-based firms (NTBFs), those established by academic personnel (academic start-ups, ASUs). We examine the effects of a series of characteristics of local universities on the growth rates of ASUs and we compare them with the effects of the same university characteristics on the growth of other (i.e., non-academic) NTBFs. In the empirical part of the paper, we estimate an augmented Gibrat law panel data model using a longitudinal dataset composed of 487 Italian NTBFs observed from 1994 to 2003. Out of these NTBFs 48 are ASUs. The results of the econometric estimates suggest that universities do influence the growth rates of local ASUs, while the effects on the growth rates of other NTBFs are negligible. In particular, the scientific quality of the research performed by universities has a positive effect on the growth rates of ASUs; conversely the commercial orientation of research has a negative effect. These results indicate that universities producing high-quality scientific research have a beneficial impact on the growth of local high-tech start-ups, but only if these firms are able to detect, absorb, and use this knowledge. In this perspective, a greater commercial orientation of university research leading to a reduction of the knowledge available for absorption by these companies, can be detrimental.

}, keywords = {Entrepreneurship, Technology Transfer}, issn = {0892-9912, 1573-7047}, doi = {10.1007/s10961-009-9111-9}, url = {http://link.springer.com/article/10.1007/s10961-009-9111-9}, author = {Colombo, Massimo G. and D{\textquoteright}Adda, Diego and Piva, Evila} } @article { 11566_73315, title = {L{\textquoteright}attuale livello di diffusione dell{\textquoteright}automazione nel distretto calzaturiero fermano-maceratese}, journal = {ECONOMIA MARCHE}, volume = {supplemento al n. 2 /2009, 2010}, year = {2010}, pages = {109{\textendash}131}, keywords = {Business Groups , Technology Transfer}, author = {E. Lanciotti and G. Conte and D. Iacobucci} } @article {bertoni_venture_2010, title = {Venture capital investments and patenting activity of high-tech start-ups: a micro-econometric firm-level analysis}, journal = {Venture Capital}, volume = {12}, number = {4}, year = {2010}, pages = {307{\textendash}326}, abstract = {

The aim of this paper is to analyse empirically the impact of venture capital (VC) finance on the innovation output of new technology-based firms (NTBFs) as reflected by their patenting activity. In particular, we compare the patenting rates of VC-backed and non-VC-backed NTBFs. To investigate whether VC investments spur patenting activity, we consider a unique longitudinal dataset composed of 351 Italian NTBFs operating in high-tech manufacturing industries and software, 33 of which are VC-backed. We estimate different econometric models on panel data, controlling for factors that may affect a firm{\textquoteright}s patenting behaviour other than the presence of VC, like founders{\textquoteright} human capital and use of other sources of financing. The results show that VC investments positively affect subsequent patenting activity and that before receiving VC, VC-backed firms do not exhibit a higher patenting propensity than other firms.

}, keywords = {Entrepreneurship}, issn = {1369-1066}, doi = {10.1080/13691066.2010.486157}, url = {http://dx.doi.org/10.1080/13691066.2010.486157}, author = {Bertoni, Fabio and Croce, Annalisa and D{\textquoteright}Adda, Diego} } @article {Cainelli2009305, title = {Do agglomeration and technology affect vertical integration? Evidence from Italian business groups}, journal = {International Journal of the Economics of Business}, volume = {16}, number = {3}, year = {2009}, note = {cited By 7}, pages = {305-322}, keywords = {Business Groups }, doi = {10.1080/13571510903227049}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-77955847133\&partnerID=40\&md5=f606b7347f5d48308a2bd0b7a8cd3675}, author = {D. Iacobucci and G. Cainelli} } @inbook { 11566_82746, title = {The role of agglomeration and technology in shaping firm strategy and organization}, booktitle = {Dynamic Capabilities between Firm Organization and Local Systems of Production}, year = {2008}, pages = {216{\textendash}235}, publisher = {Routledge}, organization = {Routledge}, address = {London}, author = {Giulio Cainelli and Donato Iacobucci} } @book { 11566_41334, title = {Agglomeration, Technology and Business Groups}, year = {2007}, publisher = {Edward Elgar}, organization = {Edward Elgar}, address = {CHELTENHAM}, keywords = {Business Groups }, author = {G. Cainelli and D. Iacobucci} } @article { 11566_82744, title = {Dimensione economico-organizzativa e strategie di crescita nei gruppi manifatturieri italiani}, journal = {L{\textquoteright}INDUSTRIA}, volume = {XXVIII}, year = {2007}, pages = {160{\textendash}180}, author = {Giulio Cainelli and Donato Iacobucci} } @book {Cainelli2007216, title = {The role of agglomeration and technology in shaping firm strategy and organization}, series = {Dynamic Capabilities Between Firm Organisation and Local Systems of Production}, year = {2007}, note = {cited By 0}, pages = {216-235}, keywords = {Technology Transfer}, doi = {10.4324/9780203937396}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84911093795\&partnerID=40\&md5=61242cbfc6b406a0bb9b780e303405a7}, author = {D. Iacobucci and G. Cainelli} } @article {Cainelli2006507, title = {Spatial agglomeration and business groups: New evidence from Italian industrial districts}, journal = {Regional Studies}, volume = {40}, number = {5}, year = {2006}, note = {cited By 30}, pages = {507-518}, keywords = {Business Groups }, doi = {10.1080/00343400600757585}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-33745904997\&partnerID=40\&md5=2588e9f17f2a5e2abd71a985e86dd788}, author = {D. Iacobucci and G. Cainelli and E. Morganti} } @article { 11566_30209, title = {gruppi d{\textquoteright}impresa e le nuove forme organizzative del capitalismo locale italiano}, journal = {L{\textquoteright}INDUSTRIA}, volume = {26}, year = {2005}, pages = {237{\textendash}255}, publisher = {Bologna : Societ{\`a} Editrice Il Mulino}, keywords = {Business Groups }, author = {G. Cainelli and D. Iacobucci} } @inbook { 11566_51933, title = {A machine learning approach to data mining: Delving into the Italian business groups database}, booktitle = {Classification and Data Analysis 2005. Book of Short Papers. Meeting of the Classification and Data Analasys Group of the Italian Statistical Society}, year = {2005}, pages = {313{\textendash}316}, publisher = {Monte Universit{\`a} Parma Editore}, organization = {Monte Universit{\`a} Parma Editore}, address = {PARMA}, keywords = {Business Groups }, author = {A. Cucchiarelli and D. Iacobucci and F. Neri} } @inbook { 11566_38559, title = {Assetti proprietari e vincoli finanziari all{\textquoteright}investimento: un{\textquoteright}analisi sui dati di bilancio delle imprese manifatturiere italiane}, booktitle = {Finanza e crescita. Quali vincoli, quali rischi?}, year = {2004}, publisher = {Il Mulino}, organization = {Il Mulino}, address = {BOLOGNA}, keywords = {Entrepreneurship}, author = {G. Calcagnigni and D. Iacobucci} } @article { 11566_30206, title = {Diffusione e specificit{\`a} organizzativa dei gruppi d{\textquoteright}impresa nei distretti industriali italiani}, journal = {ISTITUZIONI E SVILUPPO ECONOMICO}, year = {2004}, publisher = {Milano : Franco Angeli}, keywords = {Business Groups }, author = {G. Cainelli and D. Iacobucci and E. Morgante} } @inbook { 11566_82734, title = {I gruppi di piccole e medie imprese nell{\textquoteright}industria italiana}, booktitle = {La questione dimensionale nell{\textquoteright}industria italiana}, year = {1999}, pages = {313{\textendash}358}, publisher = {IL MULINO}, organization = {IL MULINO}, address = {BOLOGNA}, keywords = {Business Groups }, author = {A. Carone and D. Iacobucci} } @inbook { 11566_38267, title = {L{\textquoteright}industria italiana dell{\textquoteright}elettrodomestico nel contesto internazionale}, year = {1999}, pages = {1{\textendash}146}, publisher = {G. Giappichelli Editore}, organization = {G. Giappichelli Editore}, address = {Torino}, abstract = {

GIAPPICHELLI

}, keywords = {Entrepreneurship, Smart Specialization Strategy}, author = {V. Balloni and M. Cucculelli and D. Iacobucci} } @article { 11566_82733, title = {Le politiche del governo locale nel modello NEC}, journal = {ECONOMIA MARCHE}, volume = {XVII}, year = {1998}, pages = {9{\textendash}118}, publisher = {Conerografica Sas:Zona Ind Espansione Aspio T, I 60021 Camerano An Italy:011 39 071 730031, EMAIL: info@congerografica.it, Fax: 011 39 071 731318}, keywords = {Entrepreneurship}, author = {V. Balloni and M. Cucculelli and D. Iacobucci} } @article { 11566_82730, title = {Razionamento del credito e dimensione di impresa}, journal = {MONETA E CREDITO}, year = {1998}, pages = {197{\textendash}214}, keywords = {Entrepreneurship}, author = {G. Calcagnini and D. Iacobucci and D. Ticchi} } @article {Calcagnini1997491, title = {Small Firm Investment and Financing Decisions: An Option Value Approach}, journal = {Small Business Economics}, volume = {9}, number = {6}, year = {1997}, note = {cited By 9}, pages = {491-502}, keywords = {Entrepreneurship}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-0031516455\&partnerID=40\&md5=d885539bfa35bc68a4efca9a38ca0561}, author = {D. Iacobucci and G. Calcagnini} }