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The Directions Of Diversification In Italian Manufacturing

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Abstract

This paper focuses on the diversification strategies of the largest manufacturing groups operating in Italy between 1987 and 1993. The analysis of diversification at the firm level and at the industry level is followed with an empirical investigation on the links between the different areas of activity of our sample firms. The results highlight that diversification is mainly driven by vertical integration strategies, by the availability of some common specific resources, by strategies that could be defined as "oriented" diversification. In particular, industries with high R&D expenditures are a source of diversification but at the same time they attract investments from other industries, while advertising expenditures only in 1993 seem to be significant. The arguments of those who emphasize the importance of specific assets seem then to be corroborated by the recently observed behavior of italian manufacturing firms.

Suggested Citation

  • Davide Vannoni, 1996. "The Directions Of Diversification In Italian Manufacturing," CERIS Working Paper 199612, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    • Handle: RePEc:csc:cerisp:199612
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    1. Alessandro Sembenelli & Laura Rondi & Fabio Schiantarelli & Brian Sack, 1993. "Firms' Financial And Real Responses To Business Cycle Shocks And Monetary Tightening: Evidence For Large And Small Italian Companies," CERIS Working Paper 199305, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
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    Cited by:

    1. Ting Fa Margherita Chang & Luca Iseppi, 2011. "Specialization Versus Diversification in EU Economies: A Challenge for Agro-Food?," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 18(1), pages 16-37, September.
    2. Ting Chang & Luca Iseppi, 2012. "EU Agro-Food Chain and Vertical Integration Potentiality: a Strategy for Diversification?," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 19(1), pages 107-130, September.

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    More about this item

    Keywords

    Italina manufactoring;

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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