@inbook{7a5de43eaf3940a095439793b9cfb62c,
title = "Profit sharing, technical efficiency change and finance constraints",
abstract = "This paper analyses the mechanisms through which profit-sharing schemes may induce debt constrained firms to improve technical efficiency over time to guarantee positive profits. This hypothesis is first formalised in a partial equilibrium framework and then is tested on a sample of Italian traditional and cooperative firms. Technical efficiency change indexes are computed by DEA. These are regressed on a measure of finance constraints to analyse their impact on firms{\textquoteright} efficiency growth. The results support the hypothesis that a restriction in the availability of financial resources can affect positively the growth in efficiency in firms with profit-sharing schemes.",
keywords = "profit-sharing schemes, debt constrained firms, technical efficiency, positive profits, partial equilibrium framework, Italian, traditional firms, cooperative firms, efficiency growth",
author = "Maietta, {Ornella W.} and Vania Sena",
year = "2004",
doi = "10.1016/S0885-3339(04)08007-X",
language = "English",
isbn = "978-0-76231-114-9",
series = "Advances in the economic analysis of Pparticipatory & labor-managed firms",
publisher = "Emerald",
pages = "149--167",
editor = "Virginie Perotin and Andrew Robinson",
booktitle = "Employee participation, firm performance and survival",
address = "United Kingdom",
}