Seminario pubblico di Riccardo Marzano
Nell'ambito della procedura di valutazione di un Ricercatore a Tempo Determinato tipologia B ai fini della chiamata nel ruolo di Professore di II fascia ai sensi dell’art. 24, comma 5, legge 240/2010, SSD ING-IND/35 – SC 09/B3
Riccardo Marzano terrà un seminario pubblico in data 21 marzo 2023, alle ore 18:45 presso l'aula A4 del DIAG
Title: Corporate ownership and firm behavior
Abstract: Riccardo will give a talk about his recent research on the interplay between corporate ownership and firm behavior. First, he will present the results of a study about how responses to antitrust enforcement actions differ across owner identities. Whereas nonfamily firms raise equity capital and invest to cope with increased competition, families avoid diluting their ownership and invest less. However, because family and firm reputation and economic wealth are closely tied, family owners recruit trusted senior family leaders to restore stakeholder confidence. In short, family firms do less financially, while leveraging family leadership. These notions are supported in a major longitudinal study of responses to antitrust enforcement actions by Italian firms. Second, he will then turn to the findings of a study in which corporate ownership is conceptualized as a key determinant of the divestment-reinvestment sequence in foreign countries. Building on the notion of ‘relational vs. transactional ownership’, it argues that relational-type firms are less likely than transactional-type firms to both divest from, and reinvest in, a given foreign country. Empirical analyses using a large sample of investments, divestments and subsequent re-entries undertaken in the period 2000–2015 by 602 Italian firms support the claim.
Short Bio: Riccardo Marzano, Ph.D in Management, Economics and Industrial Engineering at Politecnico di Milano, is Assistant Professor at Sapienza University of Rome. He works in the areas of international business and global strategy. He is also interested in the interactions between institutions, individuals, organizations and markets, and in the behavioral aspects of corporate and individual decision-making. His research has been published in journals such as Journal of International Business Studies, Journal of Law and Economics and Regional Studies. He serves on the Editorial Boards of Global Strategy Journal and Journal of Industrial and Business Economics. He teaches Industrial Organization, Data-driven Economics and Management Control Systems in Undergraduate and Graduate courses.