This paper analyses the mechanisms through which profit-sharing schemes may induce debt constrained firms to improve technical efficiency over time to guarantee positive profits. This hypothesis is first formalised in a partial equilibrium framework and then is tested on a sample of Italian traditional and cooperative firms. Technical efficiency change indexes are computed by DEA. These are regressed on a measure of finance constraints to analyse their impact on firms' efficiency growth. The results support the hypothesis that a restriction in the availability of financial resources can affect positively the growth in efficiency in firms with profit-sharing schemes

Profit sharing, technical efficiency change and finance constraints / Maietta, ORNELLA WANDA; V., Sena. - 8:(2004), pp. 149-167. [10.1016/S0885-3339(04)08007-X]

Profit sharing, technical efficiency change and finance constraints

MAIETTA, ORNELLA WANDA;
2004

Abstract

This paper analyses the mechanisms through which profit-sharing schemes may induce debt constrained firms to improve technical efficiency over time to guarantee positive profits. This hypothesis is first formalised in a partial equilibrium framework and then is tested on a sample of Italian traditional and cooperative firms. Technical efficiency change indexes are computed by DEA. These are regressed on a measure of finance constraints to analyse their impact on firms' efficiency growth. The results support the hypothesis that a restriction in the availability of financial resources can affect positively the growth in efficiency in firms with profit-sharing schemes
2004
0-7623-1114-2
Profit sharing, technical efficiency change and finance constraints / Maietta, ORNELLA WANDA; V., Sena. - 8:(2004), pp. 149-167. [10.1016/S0885-3339(04)08007-X]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11588/107317
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