A Longitudinal Analysis of Riskiness Indicators After the 2008 and 2011 Economic Crises: The Case of Italian Manufacturing

Lucio Masserini (), Matilde Bini and Alessandro Zeli
Additional contact information
Lucio Masserini: University of Pisa
Matilde Bini: European University of Rome
Alessandro Zeli: ISTAT

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2021, vol. 156, issue 2, No 9, 499-513

Abstract: Abstract The Great Recession derived from USA subprime crisis involved the European countries in two different steps: in the first phase, referred to 2008–2009, the finance contraction and the bank failures spread out across the whole Atlantic area involving, above all, the financial market but also influencing the real economy. The second phase, started in 2011 and lasted until 2014–2015, affected the Euro zone and sovereign debts of the countries until 2015 in depth. Also for Italy, the crisis period was characterized by a deep negative conjuncture until 2009, by a slight recovery until the first half of 2011 and by an intense recession from 2011 to 2015. The aim of this work is to collect evidence on the Italian manufacturing system with the following goals: to investigate the riskiness–distress risk trend across industries in 2008–2017 period and to understand how this trend inluences the performance of the company at the end of the period. To perform this analysis a Latent Growth Curve Model is proposed, using an important Italian private database containing the book-value data of the joint-stock company Italian firms.

Keywords: Economic crises; Firms’ riskiness; Latent Growth Curve Model; Longitudinal model; Panel data (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s11205-020-02327-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
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: https://EconPapers.repec.org/RePEc:spr:soinre:v:156:y:2021:i:2:d:10.1007_s11205-020-02327-6

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/11135

DOI: 10.1007/s11205-020-02327-6

Access Statistics for this article

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement is currently edited by Filomena Maggino

More articles in Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().