We analyse the deleveraging process with reference to a sample of European banks from December 2011 to June 2013 and find that the leverage ratio (measured as assets to equity) has declined on average from 28.6 to 25.0. Its standard deviation fell from 8.2 to 6.5. About 2/3 of the deleveraging...

This paper analyzes the relationship between economic growth and research funding. The econometric analysis show that gross domestic expenditure on R&D (GERD) as percentage of GDP is a important driver of economic growth (R2 adj = 71%) that is measured by GDP per capita. The optimization shows...

In this paper we analyse the cost structure of a sample of Italian Local Public Transport (LPT) companies operating in large urban centres, so as to extend the evidence of some recent studies focused on small-sized and medium-sized operators. The main focus is to verify the presence and the...

Nowadays the Government of industrialised countries, in presence of reduced public funds, has to manage the public research laboratories to increase the efficiency and research performance, necessary to the competitiveness of firms and of economic systems. The purpose of this paper is to...

The economics of innovation presents a lot of taxonomy of innovation. In this research you introduce the scale of innovative intensity (SIIN) based on a meta-taxonomy that subsume other, less comprehensive taxonomy. The SIIN is similar to the seismic scale of Mercalli used for measuring the...

The new CERIS panel on Italian firms covers the period from 1977 to 1997. The panel is unbalanced and includes 1710 manufacturing firms with at least five consecutive years. It contains condensed balance sheet and profit and loss data (collected from Mediobanca annual directory "Le Principali...

In recent years changes of regulation in European electricity industry have been oriented towards a gradual liberalization of the sector, stressing the issue of energy provision for selling in the open market. Within the Italian regulatory framework, since local public firms cannot compete...

Pubblicazione promossa dalla Regione Piemonte, Direzione Industria, Settore Osservatorio Settori Produttivi Industriali e redatta dal Ceris-Cnr.

The purpose of this paper is to measure and analyze the rate of scientific and technological advances of nano-technological research in biomedicine. The approach, based on models of growth, shows the current evolutionary trends of nano-research that may underpin future patterns of technological...

Taking human experimentation into account, this work aims at estimating the relationship between transaction costs, which are related to the protection system of patients’ rights, and localization of pharmaceutical industry’s testing phase. Assuming that the competitiveness of the protection...