The paper analyses the effect of public subsidies on firm investments, using a longitudinal sample of two hundred ninety-four Italian unlisted owner-managed new-technology- based firms (NTBFs) observed from 1994 to 2003. We have adopted a modified version of the Euler equation and the use of...

<em> The impact of venture capital financing on the investment cash flow sensitivity</em> - In this paper we study the effect of venture capital (VC) financing on firms’ investments in a longitudinal sample of 374 Italian unlisted new-technology-based firms (NTBFs) observed over the 10-year period from...

The article presents the status of the crowdfunding market in Italy and discusses its future prospects. After defining the crowdfunding phenomenon and highlighting its main elements, we present the results from the Italian Crowdfunding Observatory, managed by the three authors at the Department...

The aim of the paper is to conduct an empirical analysis of the impact of VC (venture capital) funding on the innovation output of new technology-based firms in terms of their patenting activity. In particular, we compare the patenting rates of investee and non-investee high-tech firms. To...

As the world economy battles a global crisis of historical breadth and depth, NTBFs (new technology-based firms) are navigating in rough seas. In fact, the radical changes in the competitive arena triggered by the crisis are prompting NTBFs to change their strategies in order to reorient...

<i> Le determinanti dell'inerzia strutturale della gerarchia manageriale: fattori tecnologici ed organizzativi </i> (di Massimo G. Colombo, Marco Delmastro) - ABSTRACT: The present paper aims at studying the determinants of organizational change by looking at the evolution of the organizational...

<i> La dimensione iniziale delle nuove imprese ad alta tecnologia: il ruolo del capitale umano e delle fonti di finanziamento </i> (di Massimo G. Colombo, Marco Delmastro, Luca Grilli) - ABSTRACT: This paper investigates the determinants of the start-up size of new technology-based firms. While...

The paper analyzes the effects of international research alliances on the performance of NTBFs (new technology-based firms) by adopting a framework that incorporates both the resource-based view and the global strategic network theory. The paper focuses on the European Union-funded international...