Mid-Sized Italian manufacturing firms: a panel data analysis on profitability

Carlo Migliardo and Daniele Schiliro'

MPRA Paper from University Library of Munich, Germany

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 a significant and negative impact of capital structure (i.e. leverage and tangibility) and risk component on firm profitability.

Keywords: Mid-sized Italian firms; profitability: panel data; GMM (search for similar items in EconPapers)
JEL-codes: C23 G32 L2 L25 L6 L60 (search for similar items in EconPapers)
Date: 2016-10
New Economics Papers: this item is included in nep-cfn, nep-cse, nep-eff and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Journal of Advanced Studies in Finance 2(14).VII(2016): pp. 129-145

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Journal Article: Mid Sized Italian Manufacturing Firms A Panel Data Analysis on Profitability (2016)
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