Autore
Vannoni, Davide

Titolo
Le direttrici della diversificazione nella grande industria italiana.
Periodico
CERIS-CNR. Working Paper
Anno: 1996 - Fascicolo: 12 - Pagina iniziale: 1 - Pagina finale: 20

This paper focuses on the diversification strategies of the largest manufacturing groups operating in Italy between 1987 and 1993. The analysis of diversification at the firm level and at the industry level is followed with an empirical investigation on the links between the different areas of activity of our sample firms. The results highlight that diversification is mainly driven by vertical integration strategies, by the availability of some common specific resources, by strategies that could be defined as "oriented" diversification. In particular, industries with high R&D expenditures are a source of diversification but at the same time they attract investments from other industries, while advertising expenditures only in 1993 seem to be significant. The arguments of those who emphasize the importance of specific assets seem then to be corroborated by the recently observed behavior of italian manufacturing firms.



Testo completo: http://www.ceris.cnr.it/ceris/workingpaper/1996/Wp12_96.PDF

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