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Title: Firms' heterogeneity and performance in manufacturing during the Great Recession
Authors: Arrighetti, Alessandro
Brancati, R.
Lasagni, Andrea
Maresca, A.
Issue Date: 2015
Document Type: Research paper
Abstract: This paper highlights how the heterogeneity of manufacturing firms impacted their performance and survival during the “Great Recession”. The findings indicate that firms that assumed a strategically proactive and innovative strategy in the pre-crisis period showed better economic performance during the crisis in terms of both sales and value added. The evidence also shows that the youngest firms and those that had a lower level of financial exposure were favored in terms of performance. Finally, the results also confirm the increased importance of different technological regimes. In contrast, survival estimates demonstrate the non-significance of pre-crisis strategic profiles: ceteris paribus, the results indicate that the most innovative, internationalized and dynamic firms did not register a greater likelihood of survival than other businesses. This result casts doubt on the efficiency and direction of the selection process.
Appears in Collections:The impact of the Great Recession on manufacturing firms. Workshop proceedings

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