Migliardo, Carlo and Schilirò, Daniele (2016): Mid-Sized Italian manufacturing firms: a panel data analysis on profitability. Published in: Journal of Advanced Studies in Finance , Vol. VII, No. 2(14) (December 2016): pp. 129-145.
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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.
Item Type: | MPRA Paper |
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Original Title: | Mid-Sized Italian manufacturing firms: a panel data analysis on profitability |
Language: | English |
Keywords: | Mid-sized Italian firms; profitability: panel data; GMM |
Subjects: | C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C23 - Panel Data Models ; Spatio-temporal Models G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification, and Scope L - Industrial Organization > L6 - Industry Studies: Manufacturing L - Industrial Organization > L6 - Industry Studies: Manufacturing > L60 - General |
Item ID: | 80148 |
Depositing User: | Daniele Schilirò |
Date Deposited: | 14 Jul 2017 07:45 |
Last Modified: | 26 Sep 2019 17:38 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/80148 |