Purpose of the paper: e paper aims to investigate the strategic choices of Italian firms in response to globalization under the European Monetary Union. Methodology: Firms are classi ed into four groups according to their productive efficiency and productivity dynamics. e probability of the rms to fall into each category is estimated using a multinomial logit regression. Findings: We show that the rms followed di erent strategies to respond to globalization under the constraints of the European Monetary Union. Human resource strategies were at the core of strategic options: the firms that showed sustained productivity growth used a more quali ed, higher salaried workforce, whereas other rms tried to keep up with the pace by lowering labour costs and exploiting the dualism of market labour. Research limits: e study is based on a sample of continuing rms. It does not consider the real e ects of entry and exit on technological progress and we do not analyse the productivity dynamics related to mergers and acquisitions. Practical implications: e dualism of the labour market allowed the “regressive”, short-lived adaptation of a group of rms to access increased global competition. A balanced labour market would promote investment in human capital and push rms towards the use of innovation as a competitive strategy. Originality of the paper: is investigation is based on an original database with a wealth of information on labour forces, which allows us to study rm strategies. e use of e ciency measures, combined with the ordered logit model, permits a novel look at the dynamics of the strategies of Italian firms.

Strategic reactions of Italian firms to globalization under the EMU

Tundis, Enrico;Gabriele, Roberto;Zaninotto, Enrico
2015-01-01

Abstract

Purpose of the paper: e paper aims to investigate the strategic choices of Italian firms in response to globalization under the European Monetary Union. Methodology: Firms are classi ed into four groups according to their productive efficiency and productivity dynamics. e probability of the rms to fall into each category is estimated using a multinomial logit regression. Findings: We show that the rms followed di erent strategies to respond to globalization under the constraints of the European Monetary Union. Human resource strategies were at the core of strategic options: the firms that showed sustained productivity growth used a more quali ed, higher salaried workforce, whereas other rms tried to keep up with the pace by lowering labour costs and exploiting the dualism of market labour. Research limits: e study is based on a sample of continuing rms. It does not consider the real e ects of entry and exit on technological progress and we do not analyse the productivity dynamics related to mergers and acquisitions. Practical implications: e dualism of the labour market allowed the “regressive”, short-lived adaptation of a group of rms to access increased global competition. A balanced labour market would promote investment in human capital and push rms towards the use of innovation as a competitive strategy. Originality of the paper: is investigation is based on an original database with a wealth of information on labour forces, which allows us to study rm strategies. e use of e ciency measures, combined with the ordered logit model, permits a novel look at the dynamics of the strategies of Italian firms.
2015
98
Tundis, Enrico; Gabriele, Roberto; Zaninotto, Enrico
File in questo prodotto:
File Dimensione Formato  
1148-1895-1-PB.pdf

Solo gestori archivio

Tipologia: Versione editoriale (Publisher’s layout)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 356.39 kB
Formato Adobe PDF
356.39 kB Adobe PDF   Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11572/136680
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact