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 language | English |
|---|---|
| Pages (from-to) | 27-40 |
| Number of pages | 14 |
| Journal | Managerial and Decision Economics |
| Volume | 28 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - Jan 2007 |
Keywords
- corporate governance system
- Italian manufacturing
- technical efficiency
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