<i> Le determinanti dell'inerzia strutturale della gerarchia manageriale: fattori tecnologici ed organizzativi </i> (di Massimo G. Colombo, Marco Delmastro) - ABSTRACT: The present paper aims at studying the determinants of organizational change by looking at the evolution of the organizational...

<i> La dimensione iniziale delle nuove imprese ad alta tecnologia: il ruolo del capitale umano e delle fonti di finanziamento </i> (di Massimo G. Colombo, Marco Delmastro, Luca Grilli) - ABSTRACT: This paper investigates the determinants of the start-up size of new technology-based firms. While...

As the world economy battles a global crisis of historical breadth and depth, NTBFs (new technology-based firms) are navigating in rough seas. In fact, the radical changes in the competitive arena triggered by the crisis are prompting NTBFs to change their strategies in order to reorient...

The paper analyzes a peculiar managerial practice, the delegation of decision authority to employees. The practice could enable firms to leverage the external knowledge developed by communities of users and developers. The work focuses on the interaction between firms doing business with...

<em> The impact of venture capital financing on the investment cash flow sensitivity</em> - In this paper we study the effect of venture capital (VC) financing on firms’ investments in a longitudinal sample of 374 Italian unlisted new-technology-based firms (NTBFs) observed over the 10-year period from...

The paper analyses the effect of public subsidies on firm investments, using a longitudinal sample of two hundred ninety-four Italian unlisted owner-managed new-technology- based firms (NTBFs) observed from 1994 to 2003. We have adopted a modified version of the Euler equation and the use of...

The paper considers the acquisition of a high-tech start-up and analyzes how the allocation of innovation decision-making powers has an impact on the post-acquisition innovation activity of the target firm. These powers may be delegated to the key inventors of the acquired firm or centralized by...

The paper explores the reaction of new technology-based firms (NTBF) in Italy to the recent economic crisis. Using data from the RITA database on the Italian NTBF population founded since 1984, we document the consequences of the crisis in terms of: i) exit rates; ii) the growth rates of sales...