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Mid Sized Italian Manufacturing Firms A Panel Data Analysis on Profitability

Author

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  • Carlo MIGLIARDO

    (Department of Economics University of Messina)

  • Daniele SCHILIRÒ

    (Department of Economics University of Messina)

Abstract

This paper aims to provide an empirical analysis concerning the different aspects of profitability of the Italian manufacturing firms of intermediate size namely medium and medium large size companies for the period 2004 2010 It analyzes various aspects of firm profitability relating corporate structures that is capital structure risk component asset composition and growth opportunities The study investigates firm profitability by using econometric panel data techniques such as the system dynamic GMM estimator that assures the robustness of our empirical analysis One of the main results of our investigation is that we find asignificant and negative impact ofcapital structure i e leverage and tangibility and risk component on firm profitability

Suggested Citation

  • Carlo MIGLIARDO & Daniele SCHILIRÒ, 2016. "Mid Sized Italian Manufacturing Firms A Panel Data Analysis on Profitability," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 7(2), pages 129-145.
    • Handle: RePEc:srs:jasf00:v:7:y:2016:i:2:p:129-145
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    1. HOROBEȚ Alexandra & VRÎNCEANU Georgiana Maria, 2021. "Foreign Exchange and Oil Exposure of CEE Companies: Risks for Investors in Financial and Energy Industries," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.

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    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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