This paper surveys recent contributions on the Internalisation issue, based on different theories of the firm, to show how the make-or-buy decision, at an international level, has been assessed through the opening up of the "black box" - traditionally explored by the theorists of the firm - and...

Diversified firms often trade at a discount with respect to their focused counterparts. The literature has tried to explain the apparent misallocation of resources with lobbying activities or power struggles. We show that diversification can destroy value even when resources are efficiently...

This study explicitly takes into account that the decision to enter into a cooperative R&D relationship is related to the antecedent decision to carry out R&D. This calls for a methodological approach that, at the same time, allows the joint analysis of the determinants of the two decisions and...

This paper provides empirical evidence on the impact the EU Single Market Program has exerted on market power and total factor productivity in a large sample of Italian firms. By splitting the full sample on the basis of the ex-ante likelihood of being affected by the removal of non-tariff...

This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when technology improves. We find that there can be a U-shaped...

This paper provides an empirical analysis of the effects of new product versus process innovations on export propensity at the firm level. Product innovation is a key factor for successful market entry in models of creative destruction and Schumpeterian growth. Process innovation helps securing...

This paper investigates how different damage rules in patent infringement cases shape competition when intellectual property rights are probabilistic. I develop a simple model of oligopolistic competition to compare two main liability doctrines that have been used in the US to assess...

How should executives lead organisations and their employees in an increasingly digitalized business environment and what skills are needed to succeed? Although the evolution of digital technologies considerably changes working environments in organisations and creates new challenges for...

Over the past three years Italy has witnessed a rapid growth in the photovoltaic energy market, followed by an equally sudden decline when the government decided to reduce the incentives. This sharp change in the trend of the market calls into question the achievement of Grid Parity and the...

We compare trends in mortality, nutritional status and food supply to other living standard indicators for the early years of the Nazi period. We find that Germany experienced a substantial increase in mortality rates in most age groups in the mid-1930s, even relative to those of 1932, the worst...