Patterns of corporate governance and technical efficiency in Italian manufacturing

Sergio Destefanis, Vania Sena

Research output: Contribution to journalArticle

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 nine 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. Copyright © 2007 John Wiley & Sons, Ltd.

Original languageEnglish
Pages (from-to)27-40
Number of pages14
JournalManagerial and Decision Economics
Volume28
Issue number1
DOIs
Publication statusPublished - Jan 2007

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Industry
Shareholders
Corporate governance
Technical efficiency
Manufacturing
Trade-offs
Nonparametric frontier
Large shareholders
Manufacturing industries
Efficiency measures

Keywords

  • corporate governance system
  • Italian manufacturing
  • technical efficiency

Cite this

Destefanis, Sergio ; Sena, Vania. / Patterns of corporate governance and technical efficiency in Italian manufacturing. In: Managerial and Decision Economics. 2007 ; Vol. 28, No. 1. pp. 27-40.
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Patterns of corporate governance and technical efficiency in Italian manufacturing. / Destefanis, Sergio; Sena, Vania.

In: Managerial and Decision Economics, Vol. 28, No. 1, 01.2007, p. 27-40.

Research output: Contribution to journalArticle

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