Does multinational ownership affect firm survival in Italy?
The aim of this paper is to investigate whether and how multinational status and foreign ownership affect the survival of Italian manufacturing and service firms. To this end, we analyze firm survival by distinguishing Italian firms as foreign multinationals (FMNEs) domestic multinationals (DMNEs) o...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2014-04-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/JBEM/article/view/3020 |
| _version_ | 1831599991756423168 |
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| author | Anna Maria Ferragina Rosanna Pittiglio Filippo Reganati |
| author_facet | Anna Maria Ferragina Rosanna Pittiglio Filippo Reganati |
| author_sort | Anna Maria Ferragina |
| collection | DOAJ |
| description | The aim of this paper is to investigate whether and how multinational status and foreign ownership affect the survival of Italian manufacturing and service firms. To this end, we analyze firm survival by distinguishing Italian firms as foreign multinationals (FMNEs) domestic multinationals (DMNEs) or domestic non-multinational firms (NMNEs). The empirical analysis is based on the Kaplan-Meier survival estimator and on the Cox proportional hazard model, in which we look for the impact of ownership dummies on firm survival, controlling for several firm and industry specific covariates. Our findings reveal that manufacturing and service firms owned by foreign multinationals are more likely to exit the market than either DMNEs or NMNEs. Moreover, DMNEs show a higher chance of survival in services. By decomposing firm activities into different technological classes, we also find that foreign ownership still exerts a negative influence on firm survival in both static and dynamic industries, while domestic multinationals in less-knowledge-intensive services appear more persistent. |
| first_indexed | 2024-12-18T14:33:42Z |
| format | Article |
| id | doaj.art-82a48c49ea4247a9b558ae1563889622 |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-12-18T14:33:42Z |
| publishDate | 2014-04-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-82a48c49ea4247a9b558ae15638896222022-12-21T21:04:32ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332014-04-0115210.3846/16111699.2012.707622Does multinational ownership affect firm survival in Italy?Anna Maria Ferragina0Rosanna Pittiglio1Filippo Reganati2University of Salerno, Via Giovanni Paolo II, 132 - 84084, Fisciano, Salerno, ItalySecond University of Naples, Corso Gran Priorato di Malta - 81043, Capua, Caserta, ItalyUniversity of Roma Sapienza, Piazzale Aldo Moro, 1 - 00185, Roma, ItalyThe aim of this paper is to investigate whether and how multinational status and foreign ownership affect the survival of Italian manufacturing and service firms. To this end, we analyze firm survival by distinguishing Italian firms as foreign multinationals (FMNEs) domestic multinationals (DMNEs) or domestic non-multinational firms (NMNEs). The empirical analysis is based on the Kaplan-Meier survival estimator and on the Cox proportional hazard model, in which we look for the impact of ownership dummies on firm survival, controlling for several firm and industry specific covariates. Our findings reveal that manufacturing and service firms owned by foreign multinationals are more likely to exit the market than either DMNEs or NMNEs. Moreover, DMNEs show a higher chance of survival in services. By decomposing firm activities into different technological classes, we also find that foreign ownership still exerts a negative influence on firm survival in both static and dynamic industries, while domestic multinationals in less-knowledge-intensive services appear more persistent.https://journals.vgtu.lt/index.php/JBEM/article/view/3020firm exitmultinational enterprisestechnological intensityItalian economypanel dataCox model |
| spellingShingle | Anna Maria Ferragina Rosanna Pittiglio Filippo Reganati Does multinational ownership affect firm survival in Italy? Journal of Business Economics and Management firm exit multinational enterprises technological intensity Italian economy panel data Cox model |
| title | Does multinational ownership affect firm survival in Italy? |
| title_full | Does multinational ownership affect firm survival in Italy? |
| title_fullStr | Does multinational ownership affect firm survival in Italy? |
| title_full_unstemmed | Does multinational ownership affect firm survival in Italy? |
| title_short | Does multinational ownership affect firm survival in Italy? |
| title_sort | does multinational ownership affect firm survival in italy |
| topic | firm exit multinational enterprises technological intensity Italian economy panel data Cox model |
| url | https://journals.vgtu.lt/index.php/JBEM/article/view/3020 |
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