@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 {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 {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 {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} }