Champions during Crises Scenarios:High Growth and Persistent High Growth Firms

Our paper aims to participate to the growing policy discussion on high-growth firms (HGFs) by analyzing persistence of high growth patterns over crisis. During downturn periods, such as post pandemic one, policy makers seek sources to maintain competitiveness and accelerate growth. Being dynamic players in economic growth and job creation, persistent high-growth firms are notable candidates for assuming that role under such circumstances. Therefore, in this study we explore the determinants and characteristics of HGFs and persistent high-growth firms (PHGF) in a crisis scenario. We use a sample of 190,247 firms from 2007 to 2014. We estimate a multinomial probit model with independent idiosyncratic components across the different categories (i.e. HGFs, PHGFs and other firms) using full maximum likelihood. In a second phase we explore which characteristics of HGFs affect the probability of being a PHGFs. HGFs are characterized by higher productivity and leverage, and PHGFs systematically differ from other HGFs only in what regards degree of international involvement. HGFs probability of maintaining high growth rates is very low. HGFs are essentially one-hit wonders and it is debatable whether policymakers can enhance economic results by targeting them. Policy makers should be directed towards those firms which have in principal the potential to be winners, but only through policy intervention these aided firms can realize their great potential (i.e. pick and build winner)

DONNE E GOVERNO D’IMPRESA Prospettive teoriche ed evidenze empiriche

La presente ricerca propone un framework interpretativo in prospettiva gender mainstream e una verifica empirica dell’influsso delle donne nel governo dell’impresa su tre “grand challenges” in management: innovazione, internazionalizzazione e sostenibilità. Tale ricerca si inserisce nell’ambito degli studi sul governo d’impresa e, ispirata dalla lente interpretativa fornita dalla Stewardship Theory e dalle teorie femministe, indaga la rilevanza che la soglia minima di tre donne nel governo di impresa (Teoria della Massa Critica) assume nelle scelte strategiche. Il framework, integrando la Social Identity Theory, indaga anche la rilevanza degli ostacoli che derivano dalla costruzione sociale degli stereotipi di un dato contesto culturale sulla possibilità di influsso delle donne al governo dell’impresa. Completato il quadro degli aspetti definitori e teorici, il lavoro analizza lo stato dell’arte degli studi con specifico riferimento al ruolo delle donne sulle scelte strategiche i innovazione, internazionalizzazione e sostenibilità. Segue una analisi empirica effettuata su un campione di oltre 15 mila imprese italiane. Il lavoro offre infine un quadro di sintesi e riflessione teorica, un’agenda di ricerca e un insieme di implicazioni manageriali e di policy sulla base dei risultati conseguiti. Questo lavoro intende infatti fornire, da un lato, indicazioni teoriche utili allo sviluppo della ricerca accademica sul tema e, dall’altro, analisi a supporto alle scelte politiche nazionali e internazionali

Sustainable and low-cost solutions for thermal and acoustic refurbishment of old buildings

This paper investigates the possibility to realize solutions for buildings thermal and acoustic refurbishment by using end-of-life household materials, such as cardboard, clothes, and egg-boxes. These solutions can be installed to improve the indoor quality in neighborhoods populated by people below the poverty threshold. The considered end-of-life household materials and their combination have been analyzed from the acoustic and thermal points of view. First of all, the sound insulation and the sound absorption properties have been determined by means of an impedance tube. Then, the summer and the winter thermal performances, when coupled to different wall systems, have been investigated analitically. The results suggest that good thermal and acoustic characteristics can be achieved in a contained thickness by coupling end-of-life household materials