Search results for "Investments"
showing 10 items of 70 documents
I drivers del modello competitivo: investimenti, finanziamenti e rapporti con il sistema creditizio
2015
l presente capitolo intende mettere a fuoco i punti di forza ma soprattutto le debolezze che contrassegnano la struttura finanziaria, il rapporto con il sistema bancario e la politica degli investimenti delle imprese italiane. This chapter intends to focus on the strengths but above all the weaknesses that mark the financial structure, the relationship with the banking system and the investment policy of Italian companies.
The importance of relation-specific investments in capital structure decision: the case of the biopharmaceutical industry
2012
According to capital structure literature, bilateral relationships with external partners have a strong impact on a firm’s financing decisions because they involve relation-specific investments that would lose most of their value in case of liquidation. By adjusting their capital structure firms can reduce liquidation risks and incentive their partners to undertake such investments. In this paper we extend these arguments to strategic alliances in the context of biotechnology industry, where bilateral relationships are formed to advance the commercialization of innovation and R-S investments are a primary issue. We investigate alliances heterogeneity and analyze whether partnerships possess…
CVC AND INNOVATION PERFORMANCE: THE EFFECT OF TECHNOLOGICAL DISTANCE WITH STARTUPS AND COINVESTORS
2018
Firms are increasingly opening their boundaries by engaging in corporate venture capital (CVC) programs as potential gateway into knowledge and technologies of innovative startups. By investing in promising startups across diverse industries with different technological knowledge from the knowledge base of the investing corporate, CVC programs constitute a vehicle for corporates to both exploit and explore innovation opportunities. We first examine the relationship between more explorative CVC investments portfolio and the innovation performance of the corporate. Then, we argue that when syndicating the CVC investments with a co-investor, the portfolio of syndication partners may affect the…
THE CRISIS OF 1929-1933 AND ITS EFFECTS ON THE INDUSTRIALEVOLUTION OF ROMANIA
2012
The Great Depression of 1929-1933 was a global phenomenon that had experienced various aspects and degrees of intensity, from country to country. Thus, that period exhibited a financial crisis, a crisis of production and trade, and a social crisis; all of which had direct effects on Romania's industrial evolution. After increasing the role of the industry in thenational economy during the 1920s, the economic crisis temporarily interrupted this development and was initially reflectedin the collapse of income, prices, investments, a multiplying number of bankruptcies, and a rapid growth of unemployment. Meanwhile, Romania's industrial output fell continuously until reaching its peak, in 1932,…
Chińska aktywność na Bałkanach w XXI wieku i jej implikacje
2022
Celem artykułu jest szkicowe przedstawienie, na podstawie analiz i materiałów prasowych, wielosektorowej obecności Chin na Bałkanach i jej wpływu na sytuację ekonomiczną regionu. Bałkany są ważne dla mocarstw ze względu na położenie geopolityczne i geostrategiczne na skrzyżowaniu szlaków międzykontynentalnych. Chiny znacząco wpływają na ekonomikę poszczególnych państw region, wykorzystując dyplomację publiczną celem ograniczenia wpływów ze strony innych ważnych graczy: Unii Europejskiej, Rosji i USA. Autorka przedstawia hipotezę, że Chiny, tak jak USA pod koniec XX wieku, zmierzają do stworzenia sfery wpływów na Półwyspie Bałkańskim, w kontekście swoich interesów globalnych. Bałkany są post…
A future European FDI screening system: solution or problem?
2019
The establishment of a mechanism at the European level for screening FDI, on the grounds of national security and public order, constitutes a major step in implementing the EU investment policy. To create an effective system, it must be based on clear common rules, provide certainty and ensure judicial redress.
Efficiency, Fairness and Sustainability in Social Housing Policy and Projects
2023
The provision of affordable housing for low-income households is a very complex issue long debated in many countries around the world. Social Housing (SH) is one of the tools for achieving fairness, social sustainability and economic feasibility, and is interrelated with politics, ethics and economics, as well as the environment, architecture and technology. In other words, national and local policy, and also public and private financial resources are all needed to provide SH. SH also involves social and urban transformations and is, consequently, linked to urban planning and redevelopment projects, real estate market dynamics and cooperation between public and private stakeholders. Further…
Regulation of Investments in Infrastructure: The Interplay between Strategic Behaviors and Initial Endowments
2012
This paper explores the dynamic properties of price-based policies in a model of competition between two jurisdictions. Jurisdictions invest over time in infrastructure to increase the quality of the environment, a global public good. They are identical in all respects but one: initial stocks of infrastructure. This is a dynamic type of heterogeneity that disappears in the long run. Therefore, at the steady state, usual intuitions from static settings apply: identical jurisdictions inefficiently underinvest, calling for public subsidies. In the short run, however, counterintuitive properties are established: (i) the evolution of capital stocks can be nonmonotonic and (ii) one jurisdiction c…
Investments, Economic Growth and Employment: VAR Method for Romania
2019
Abstract Economic growth can be seen as an effect of both fiscal policies and different legislative norms applied at national and macroeconomic level. Investments are a determining factor in the evolution of socio-economic life, influencing also the employment rate. This paper aims to identify the influence of investments on economic growth and employment using the vector autoregressive model (VAR). Based on the quarterly data from Romania, between the first quarter of 2000 and the second quarter of 2018, the Granger causality test and the impulse - response function was applied to identify the effect of the investments on the sustainable development of the Romanian economy. The results rev…
Innovativeness and Family-Firm Performance: The Moderating Effect of Family Commitment
2016
The positive relationship between innovativeness and firm performance is well established and applies equally to all businesses, including family firms. However, little is yet known about how the unique characteristics of family firms influence this relationship. Drawing upon the resource-based view (RBV) of the firm, this study explains how the interplay between innovativeness as a firm-specific resource and family commitment as a family-specific resource affects performance. The analysis of longitudinal survey data collected from Finnish family firms demonstrates a curvilinear (U-shaped) moderating effect of the owner family’s commitment to the firm, in that the impact of innovativeness o…