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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Production And Financial Linkages In Inter-Firm Networks: Structural Variety, Risk-Sharing And Resilience, Sandro Montresor, Giulio Cainelli, Giuseppe Vittucci Marzetti
Production And Financial Linkages In Inter-Firm Networks: Structural Variety, Risk-Sharing And Resilience, Sandro Montresor, Giulio Cainelli, Giuseppe Vittucci Marzetti
Sandro Montresor
The paper analyzes how (production and financial) inter-firm networks can affect firms’ default probabilities and observed default rates. A simple theoretical model of shock transfer is built to investigate some stylized facts on how firm-idiosyncratic shocks are allocated in the network, and how this allocation changes firm default probabilities. The model shows that the network works as a perfect “risk-pooling” mechanism, when it is both strongly connected and symmetric. But the “risk-sharing” does not necessarily reduce default rates, unless the shock firms face is lower on average than their financial capacity. Conceived as cases of symmetric inter-firm networks, industrial districts …
The Deindustrialisation/Tertiarisation Hypothesis Reconsidered: A Subsystem Application To The Oecd, Sandro Montresor Prof., Giuseppe Vittucci Marzetti
The Deindustrialisation/Tertiarisation Hypothesis Reconsidered: A Subsystem Application To The Oecd, Sandro Montresor Prof., Giuseppe Vittucci Marzetti
Sandro Montresor
The diffusion of outsourcing and vertical foreign direct investment (FDI) among manufacturing firms, along with the vertical integration of market services into manufacturing, is questioning the so called ‘Deindustrialisation/Tertiarisation’ (DT) hypothesis. In particular, it has been argued that DT might be an ‘apparent’ phenomenon, in fact amounting to a simple reorganisation of production across national and sectoral boundaries. The empirical studies that try to support this hypothesis, however, cannot be deemed conclusive as they suffer two methodological drawbacks: a non-(sub-)systemic sectoral level of analysis and a not truly global empirical approach. In order to overcome these drawbacks, the paper carries …
Outsourcing, Delocalization And Firm Organization: Transaction Costs Vs. Industrial Relations In A Local Production System Of Emilia Romagna, Sandro Montresor Prof., Massimiliano Mazzanti, Paolo Pini
Outsourcing, Delocalization And Firm Organization: Transaction Costs Vs. Industrial Relations In A Local Production System Of Emilia Romagna, Sandro Montresor Prof., Massimiliano Mazzanti, Paolo Pini
Sandro Montresor
This article investigates the firms’ decisions to outsource, taking into account the impact of their embeddedness in a specific regional context on the relative entrepreneurial decision. It focuses on the role of industrial relations, as a factor that could interfere with the entrepreneurs’ decision of resorting to market relationships in discovering and exploiting new business opportunities. We study a local production system in Emilia Romagna (Northern Italy), i.e. the province of Reggio Emilia (RE), whose firms are characterized by a district kind of environment and where entrepreneurship develops in the presence of ‘thick’ industrial relations. The empirical part of the …
On Indirect Trade-Related R&D Spillovers: The “Average Propagation Length” Of Foreign R&D, Sandro Montresor Prof., Chiara Franco, Giuseppe Vittucci Marzetti
On Indirect Trade-Related R&D Spillovers: The “Average Propagation Length” Of Foreign R&D, Sandro Montresor Prof., Chiara Franco, Giuseppe Vittucci Marzetti
Sandro Montresor
The paper estimates the impact on Total Factor Productivity of trade-related R&D spillovers by accounting for the economic distance between countries. The Average Propagation Length foreign R&D covers to reach a domestic country is used in building the foreign available R&D stock and to estimate its TFP impact vs. that of the domestic R&D stock. With respect to 20 OECD countries in the period 1995–2005, the impact on TFP of the available foreign R&D stock is greater than that of the domestic one. Results support the models that recognize indirect trade-related R&D spillovers and provide for them a more accurate …