The effects of mergers and acquisitions on the firm size distribution (2008)
Cefis, Elena, Marsili, Orietta, Schenk, Hans
This paper provides new empirical evidence on the effects of mergers and acquisitions (M&As) on the shape of the firm size distribution, by using data of the population of manufacturing firms in the...
Invariances and Diversities in the Evolution of Manufacturing Industries (2003)
Bottazzi, Giulio, Cefis, Elena, Dosi, Giovanni, Secchi, Angelo
In this work we explore some basic properties of the size distributions of firms and of their growth processes both at aggregate and disaggregate levels. First, we investigate which properties of...
Survivor: The Role of Innovation in Firms Survival (2003)
This paper explores the relationship between innovation and the survival of manufacturing firms in the Netherlands. The determinants of the survival probability of a firm, traditionally identified in...
From gibrat's legacy to gibrat's fallacy. a bayesian approach to study the growth of firms (2002)
Cefis, Elena, Ciccarelli, Matteo, Orsenigo, Luigi
We aim at testing Gibrat's Law, a building block of the corporate growth dynamics. Using a Bayesian statistical framework that nests previous approaches, we provide evidence against Gibrat's law on...
Modelli di interazione spaziale: presupposti teorici e aspetti applicativi (1997)
No abstract available
Effects of Acquisitions on Product and Process Innovation and R&D Performance
Cefis, Elena, Rosenkranz, Stephanie, Weitzel, Utz
Using a game theoretical model on firms' simultaneous investments in product and process innovation, we deduct and empirically test hypotheses on the optimal R&D portfolio, investment, performance,...
Corporate Growth and Industrial Structure. Some Evidence from the Italian Manufacturing Industry
Giulio Bottazzi, Elena Cefis, Giovanni Dosi
-
Invariances and Diversities in the Evolution of Manufacturing Industries
Giulio Bottazzi, Elena Cefis, Giovanni Dosi, Angelo Secchi
In this work we explore some basic properties of the size distributions of firms and of their growth processes both at aggregate and disaggregate levels. First, we investigate which properties of...
A Matter of Life and Death: Innovation and Firm Survival
This paper examines the effects of innovation on the survival of manufacturing firms in the Netherlands. The demographics of firms according to their innovative performance and type of innovation are...
FROM GIBRAT'S LEGACY TO GIBRAT'S FALLACY. A BAYESIAN APPROACH TO STUDY THE GROWTH OF FIRMS
Elena Cefis, Luigi Orsenigo, Matteo Ciccarelli
We aim at testing Gibrat's Law, a building block of the corporate growth dynamics. Using a Bayesian statistical framework that nests previous approaches, we provide evidence against Gibrat's law on...
From Gibrat’s legacy to Gibrat’s fallacy. A Bayesian approach to study the growth of firms
Elena Cefis, Matteo Ciccarelli, Luigi Orsenigo
In this paper we investigate some properties of the patterns of firms’ growth. Several recent studies about this topic are based on some version of the so-called Gibrat’s Law, which assumes that...
Profit differentials and innovation
Elena Cefis, Matteo Ciccarelli
The article aims to investigate empirically the effects of innovative activities on corporate profitability, using a panel of 267 UK manufacturing firms, over the period 1988-1992. Using the Bayesian...
Does Spatial Disaggregation Matter in Job Creation and Destruction Flows?
The paper investigates the changes in job creation and destruction flows considering a very disaggregate level of analysis. If institutional setup plays a more important role compared to other...
A matter of life and death: innovation and firm survival
This article examines the effects of innovation on survival using data on all manufacturing firms active in the Netherlands and the Community Innovation Survey. By estimating a parametric duration...
Corporate growth and industrial structures: some evidence from the Italian manufacturing industry
Giulio Bottazzi, Elena Cefis, Giovanni Dosi
This work analyses the properties of corporate growth in a large longitudinal sample of Italian manufacturing firms. In particular, it focuses on the statistical properties of growth rates and on the...
Post Merger Innovative Patterns in Small and Medium Firms
Elena Cefis, Mihaela-Livia Ghita
This paper investigates whether involvement in mergers and acquisitions (M&As) triggers distinct patterns of innovative behaviour across firms situated at different points on the firm size...
Does spatial disaggregation matter in job creation and destruction flows?
The paper investigates the changes in job creation and destruction flows considering a very disaggregate level of analysis. If institutional setup plays a more important role compared to other...
Invariances and Diversities in the Evolution of Manufacturing Industries
Giulio Bottazzi, Elena Cefis, Giovanni Dosi, Angelo Secchi
In this work we explore some basic properties of the size distributions of firms and of their growth processes both at aggregate and disaggregate levels. First, we investigate which properties of...
Survivor: The Role of Innovation in Firm's Survival
This paper explores the relationship between innovation and the survival of manufacturing firms in the Netherlands. The determinants of the survival probability of a firm, traditionally identified in...
Testing Gibrat's Legacy: A Bayesian Approach to Study the Growth of Firms
Elena Cefis, Matteo Ciccarelli, Luigi Orsenigo
Gibrat's law is a referent model of corporate growth dynamics. This paper employs Bayesian panel data methods to test for Gibrat's law and its implications. Using a Pharmaceutical Industry Database...
Does Spatial Disaggregation Matter in Job Creation and Destruction Flows?
The paper investigates the changes in job creation and destruction flows considering a very disaggregate level of analysis. If institutional setup plays a more important role compared to other...
Effects of Acquisitions on Product and Process Innovation and R&D Performance
Elena Cefis, Stephanie Rosenkranz, Utz Weitzel
Using a game theoretical model on firms' simultaneous investments in product and process innovation, we deduct and empirically test hypotheses on the optimal R&D portfolio, investment, performance,...
The Effects of Mergers and Acquisitions on the Firm Size Distribution
Elena Cefis, Orietta Marsili, Hans Schenk
This paper provides new empirical evidence on the effects of mergers and acquisitions on the shape of the firm size distribution (FSD), by using data of the population of manufacturing firms in the...
Elena Cefis, Anna Sabidussi, Hans Schenk
We investigate the effects of M&A on innovation in the specific context of potential or realized market dominance. Authorities are challenged by balancing both detrimental and beneficial effects of...
Elena Cefis, Mark Grondsma, Anna Sabidussi, Hans Schenk
Changes in the world’s economies and discussions in the literature about the growing importance of innovation to firms have given rise to a demand for expanding the analysis of merger policy. The...
Innovate or Die? A critical review of the literature on innovation and performance
Stefano Brusoni, Elena Cefis, Luigi Orsenigo
The idea that innovation leads to positive economic performance has become a sort of truism in recent years. However, empirical evidence showing that innovating organizations and countries outperform...
The Impact of M&A on Technology Sourcing Strategies
The paper investigates the effects of Mergers and Acquisitions (M&A) on corporate research and development (R&D) strategies using Community Innovation Survey (CIS) data on the Dutch manufacturing...