Delegation, Ownership Concentration and R&D Spending: Evidence From Italy

Abstract : We use data from the Italian manufacturing industry to document a positive correlation between delegation and R&D. This result is robust to controlling for the determinants of R&D such as human capital, capital intensity and sectoral or regional effects. We further investigate the determinants of delegation and find that ownership concentration is significantly related to delegation. Among large firms with a dispersed ownership structure, larger ownership concentration implies less delegation, whereas the opposite emerges with more concentrated ownership. Differences between the Northern and Southern regions in terms of firms' propensity to delegate decisions and engage in R&D also emerge.
Type de document :
Article dans une revue
The Journal of Industrial Economics, 2013, 61 (1), pp.84-107. 〈10.1111/joie.12012〉
Liste complète des métadonnées

https://hal-pjse.archives-ouvertes.fr/hal-00813160
Contributeur : Caroline Bauer <>
Soumis le : lundi 15 avril 2013 - 11:00:49
Dernière modification le : jeudi 11 janvier 2018 - 06:23:24

Identifiants

Collections

Citation

Jakub Kastl, David Martimort, Salvatore Piccolo. Delegation, Ownership Concentration and R&D Spending: Evidence From Italy. The Journal of Industrial Economics, 2013, 61 (1), pp.84-107. 〈10.1111/joie.12012〉. 〈hal-00813160〉

Partager

Métriques

Consultations de la notice

285