PATTERNS OF CORPORATE GOVERNANCE AND TECHNICAL EFFICIENCY IN ITALIAN MANUFACTURING

Sergio Destefanis () and Vania Sena
Additional contact information
Vania Sena: University of Leeds, UK

Finance from EconWPA

Abstract: The purpose of this paper is to analyse the relationship between the corporate governance system and technical efficiency in Italian manufacturing. We use a non-parametric frontier technique (DEA) to derive technical efficiency measures for a sample of Italian firms taken from 9 manufacturing industries. These measures are then related to the characteristics of the corporate governance system. Two of these characteristics turn out to have a positive impact on technical efficiency: the percentage of the company shares owned by the largest shareholder and the fact that a firm belongs to a pyramidal group. Interestingly, a trade-off emerges between these influences, in the sense that one is stronger in industries where the other is weaker.

JEL-codes: G (search for similar items in EconPapers)
Date: 2004-05-21
Note: Type of Document - pdf
View list of references

Downloads: (external link)
http://129.3.20.41/eps/fin/papers/0405/0405026.pdf (application/pdf)

Related works:
Journal Article: Patterns of corporate governance and technical efficiency in Italian manufacturing (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpfi:0405026

Access Statistics for this paper

More papers in Finance from EconWPA
Series data maintained by EconWPA ().