Local public enterprises: a comparison between the South and the Centre and North of Italy

Claudia Di Carmine (), Anna Laura Mancini (), Daniela Mele (), Giacomo Roma and Giacomo Ziglio ()
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Claudia Di Carmine: Bank of Italy
Anna Laura Mancini: Bank of Italy
Daniela Mele: Bank of Italy
Giacomo Ziglio: Bank of Italy

No 859, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: The paper reconstructs the set of companies in which local administrations hold a stake and delineates their principal features, focusing on a territorial comparison between the South and the Centre and North of Italy. Companies based in the South are smaller in size and have a lower number of participating entities on average than those in the Centre and North. Analysis of financial statements also shows that they have lower capitalization, lower income results and a lower propensity to invest. No significant differences between the two areas emerge with regard to the process of reducing the number of companies initiated by the 2016 Consolidated Law on Publicly Owned Companies (TUSP), which has had limited effects so far. The paper also explores the relationship between the economic and financial situation of the participating entities and some performance indicators for their investees, taking into account the main enterprise characteristics. Specifically, the results show a positive correlation with profitability.

Keywords: local public enterprises; local public administrations; Southern Italy (search for similar items in EconPapers)
JEL-codes: H11 L32 (search for similar items in EconPapers)
Date: 2024-06
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_859_24

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