Luca Ferrucci

The evolutionary nature of the firm within industrial districts

Abstract The Italian industrial district phenomenon has been widely analyzed and admired. It demonstrates that small firm collaboration is globally competitive. But the conditions for competitiveness changed in the 1980s. The question some authors posed was: can the districts survive? Using an evolutionary economic analysis, this article analyzes the challenges faced by the district paradigm of development, with special attention being paid to their capacities to improve efficiency and innovation. It concludes that strategic adaptation will be slow but that the flexibility inherent in the district model will sustain those firms that link to global networks.

The economic impact of cultural events:: the Umbria Jazz music festival

This paper assesses the economic impact of a cultural event on a local economy. The event analysed is the Umbria Jazz music festival, which is held annually in July in the city of Perugia in Italy. The relevance of this case study concerns the methodological problems involved in estimating the number of visitors attracted by an event characterized by numerous free concerts. In addition, through the choice of the components of expenditure and the impact analysis model, the proposed approach represents an advanced synthesis of the paths which have been developing in the literature.

Institutional innovations in industrial districts

The present essay aims to analyse the nature and the evolution of industrial district firms in terms of their institutional model. It is divided into four parts. In the first part, we observe the presence of certain barriers preventing institutional change in each model of firm. In the second part, some specific institutional and historical features in industrial district firms are observed which confirm the presence of high barriers preventing change in ownership. In the third part, the main paths of institutional evolution of district capitalism are outlined, especially with regard to the internal local system. Finally, in the last part, we suggest some possible implications regarding industrial policy supporting institutional innovations to the ownership of these firms.

Italian firms in emerging markets: relationships and networks for internationalization in Africa

This paper concerns the process of internationalization of Italian small and medium-sized enterprises (SMEs) in Africa. The African continent is an interesting and valuable emerging target market for the international expansion of Italian companies. Using network theory on internationalization, this paper considers which actors play relevant roles in the penetration of the African market. We determine how the knowledge acquired could be used for growing within the African continent. This paper proposes findings emerging from a cross-case analysis of 18 SMEs and their internationalization strategies in Africa. The main results show that networks play a relevant role in the internationalization of Italian SMEs in Africa, but their constituent relationships are often built on contingencies rather than on deliberate strategies. Only some actors (such as business partners, NGOs, and destination-market institutions) are crucial for internationalization in Africa, while other actors, such as local and national Italian institutions, do not seem to be facilitators for this path of growth. Finally, our findings highlight how in Mediterranean Africa (and only rarely in sub-Saharan Africa), the knowledge acquired in one market is useful for growth in the closest countries to it. We conclude by proposing a taxonomy of potential networks in the African continent.

Enhancing the Tourism Image of Italian Regions Through Urban Events: The Case of Steve McCurry’s Sensational Umbria Exhibition

The study analyses the case of the Sensational Umbria photography exhibition by Steve McCurry, held in Perugia in 2014. The event proved to be of particular interest, not only for its success in terms of visitors number and impact on the media, but in particular for the innovative use of a photo exhibition for the purpose of promoting tourism in the region. The paper, after a theoretical introduction on the relationship between tourism events and destination image, offers an analysis of the event from different perspectives: economic impact, visitor satisfaction, and effect on the media. The methodology has been twofold, involving both desk analysis and a survey conducted by administering a questionnaire to 455 visitors. The results that emerge illustrate a situation that, while generally positive, leaves margins for improvement, especially in terms of greater involvement by local stakeholders.

From economic dualism to local variety: The development of service industries in Italian regions

The paper aims to identify the weight of, and principal dynamics in, the manufacturing and service sectors in the Italian regions, in order to better recognise and define the development paths of individual regional economies. On the basis of data published by the National Statistics Institute, a cluster analysis was carried out. The results show a differentiation in the dynamics of tertiarisation, with some regions ready to strengthen services within a virtuous cycle that also favours the development of manufacturing, while other regions appear anchored to an almost pre-industrial model, where the service sector is principally made up of the public administration.

Il gruppo Margaritelli: dai sentieri della crescita a quelli della ristrutturazione e del Turnaround

L’articolo presenta il caso del gruppo Margaritelli, un’impresa multi-business avente la propria sede legale in Umbria e i cui ambiti di operativita vanno dai pavimenti in legno alle traverse ferroviarie, fino alla produzione di veicoli industriali. In particolare, l’obiettivo del lavoro e quello di identificare gli effetti che la crisi economica internazionale ha generato sulle dinamiche di sviluppo dell’impresa e le strategie che la stessa ha saputo attivare in termini di trasformazione del proprio modello di business. I risultati dell’indagine evidenziano che la crisi, pur determinando significativi effetti economici negativi, e stata anche l’occasione per rafforzare nuove strategie di innovazione e di internazionalizzazione nonche per pervenire alla definizione e all’adozione di nuovi assetti di corporate governance.

Medium and Large Retail Enterprises: The Relevance and the Diffusion in Regional Economics

Medium and large retail enterprises have a relevant role in economic and management literature. Nevertheless, most studies on retail sector have been devoted to small and big companies, following a dualistic approach. This paper aims to identify the regional distribution of medium and large retail enterprises, their geographical retail network and the economic relevance in regional economics. In this way, it tries to verify if and how medium and large retail enterprises have been able to promote the modernisation of retail in the Italian regions. Methodologically, the paper is based on a quantitative research based on data containing information about the size of retail firms and the localisation of their stores. It shows that medium and large retail enterprises are mainly localized in Central and Northern Italy, influencing a relevant economic regional dualism. Although the study shows extra-regional expansion strategies, most of the firms come mainly from Northern Italy and the expansion direction is generally towards closer geographical areas.