Template-type: ReDIF-Article 1.0 Author-Name: n.d. Title: Introduzione Abstract: Classification-JEL: Keywords: Note: Pages:5-7 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36369&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002001 Number: 1 Template-type: ReDIF-Article 1.0 Author-Name: Augusto Preta Title: La TV digitale terrestre: conservazione dell'esistente o innovazione verso la convergenza? Abstract: Digital terrestrial television: consolidation of the existing TV market structure or innovation towards convergence? - Even though competition among platforms has not yet clearly established a winner, digital TV has grown significantly everywhere. Technological developments have allowed new models for content consumption. User-generated content, on-demand services, catch up TV, PVRs which allow the creation of individual schedules and skipping commercials are disrupting the traditional passive mode of content consumption. Faced with these new models, some TV players are actually proactive in creating cross-platform synergies, in order to exploit their expertise and brand across a multitude of platforms, thus increasing their profits. The competitive scenario is undergoing substantial changes compared to the one we had grown familiar with over the last twenty years. Penetration of digital TV is moving ahead: in June 2008, there were nearly 100 million digital TV households in Western Europe, thus reaching 60% of European TV households. Satellite is still the most widespread digital access, but digital terrestrial television records the highest growth rates, thanks to the success reported in some of the biggest markets. After the Netherlands, also Finland and Sweden have completed the analogue switch-off. New platforms such as ADSL, FTTH are still struggling to conquer a place in the market. Although it is still a marginal platform, the IPTV is reporting interesting figures. Other services followed in Germany, Finland and the United Kingdom after the first commercial launch of mobile broadcast TV in Italy in June 2006,. Other services are expected to be launched with the EC supported standard DVB-H.

Keywords: television, digital TV, convergence, market strategy.
Parole chiave: televisione, TV digitale, convergenza, strategia di mercato. .

Jel Classification: L82 Classification-JEL: Keywords: Note: Pages:9-19 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36370&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002002 Number: 2 Template-type: ReDIF-Article 1.0 Author-Name: Cesare A. Massarenti Title: A world in transition: convergence, interoperability, production processes and economic models in the media Abstract: A world in transition: convergence, interoperability, production processes and economic models in the media - During the past thirty years, the transition to digital has changed both the way the media and communication industry creates and provides content and the way end users access information and interact with it. The entire organization of content production, processing and distribution is undergoing major changes and workflow is being redesigned with the use of sophisticated database technologies, allowing for the development of a new multi-channel content delivery and multiple revenue streams paradigm. The spread of interactive functionalities, the widening variety of access devices, the emergence of social networks and the progressive approach to the semantic web are redefining the relationships between traditional content providers in the media and audiences, whereby a "reader" can become an "author". Content can be accessed by means of many complementary devices, in a personalized time and space frame. Issues of convergence and interoperability, together with issues concerning intellectual property and copyright, are underlying the development of novel narrative structures and modes of content fruition. .

Keywords: media, communication, database technologies, audience, multi-channel content delivery, interactivity, access devices, convergence, interoperability
Parole chiave: media, comunicazione, convergenza, interoperabilit?, processi produttivi, cross-media .

Jel Classification: L82 Classification-JEL: Keywords: Note: Pages:21-45 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36371&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002003 Number: 3 Template-type: ReDIF-Article 1.0 Author-Name: Carlo Cambini Title: Concorrenza e regolazione nel settore ferroviario: l'importanza del materiale rotabile Abstract: Competition and regulation in railways: the role of the rolling stocks - The liberalization process in the railway industry is highly influenced by the availability of rolling stocks. Although these assets are duplicable and cannot therefore be defined as essential facilities, evidence from many countries shows that they represent the most relevant barrier to entry in the market. In this paper, following the UK experience, we analyse the role of the rolling stocks and the hypothesis of a vertical separation of these assets from the present owner, i.e. the incumbent operator Trenitalia SpA. We therefore evaluate the pros and cons of a potential de-integration of the Italian railway industry in order to enhance market competitiveness and the overall efficiency of this industry. .

Keywords: railway transport, regulation, competition, essential facilities
Parole chiave: trasporto ferroviario, regolazione, concorrenza, asset essenziali .

Jel Classification: L43 - L51 - L92 Classification-JEL: Keywords: Note: Pages:47-72 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36372&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002004 Number: 4 Template-type: ReDIF-Article 1.0 Author-Name: Fabio Bertoni Author-Name: Massimo G. Colombo Author-Name: Annalisa Croce Title: Diverse tipologie di venture capital e relazione tra investimenti e cash flow Abstract: The impact of venture capital financing on the investment cash flow sensitivity - 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 1994 to 2003. In particular, we consider the influence of VC on both firms? investment levels and the sensitivity of investments to firms? cash flows. We also distinguish the effects of VC financing according to the type of investor: financial VC (FVC) investors and corporate VC (CVC) investors. We show that the investment rate of Italian NTBFs is strongly and positively correlated with their current cash flows. We also find that after receiving VC financing, NTBFs increase their investment rate independently of the type of VC investor. Even though, on average, VC financing seems not to affect the sensitivity of investments to cash flows, we have found that there is substantial heterogeneity according to the type of VC investor. In fact, CVC-backed firms still exhibit positive investment-cash flow sensitivity. Conversely, when firms receive VC financing from an FVC investor, the sensitivity of investments to cash flows disappears. Therefore, while this study clearly indicates that VC financing is beneficial to NTBFs, it also suggests that managers of NTBFs looking for external financing should be aware that the nature of these benefits depends crucially on the type of investor. .

Keywords: investment, new technology-based firm, pecking order, venture capital, corporate venture capital
Parole chiave: investimenti, imprese ad alta tecnologia, pecking order, venture capital, corporate venture capital .

Jel Classification: G32 - D92 - G23 Classification-JEL: Keywords: Note: Pages:73-103 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36373&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002005 Number: 5 Template-type: ReDIF-Article 1.0 Author-Name: Andrea Lanza Author-Name: Antonella Pellegrino Author-Name: Giuseppina Simone Title: La definizione del costrutto di eterogeneit? e il legame eterogeneit?-performance Abstract: Defining the heterogeneity construct and linking it to performance Although heterogeneity has gained broad acknowledgement as a crucial phenomenon in the resource-based perspective, its relevance, whether as a source of inter-firm differences or of differences in firms? performance, has often been taken for granted rather been empirically assessed. Further, heterogeneity has been accepted as a self-explanatory concept instead of being studied and clarified as a construct for empirical research. Therefore, the goal of this paper is to define the heterogeneity construct and to eventually link the latter to firms? performances. A research on a 132 firms sample drawn from the Italian tool machine industry has been carried out to pursue this task. By means of a Structural Equation Model (LISREL) a 3-dimension construct has emerged; the heterogeneity construct dimensions are: contextuality, complexity and intertwinedness. The impact of heterogeneity on firms? performance has also been confirmed by means of LISREL. .

Keywords: resource-heterogeneity, construct development, competitive advantage, Structural Equations Models
Parole chiave: eterogeneit? delle risorse, sviluppo del costrutto, legame eterogeneit?vantaggio competitivo, modelli di equazioni strutturali .

Jel Classification: M100 Classification-JEL: Keywords: Note: Pages:105-129 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36374&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002006 Number: 6 Template-type: ReDIF-Article 1.0 Author-Name: Francesca Spigarelli Title: Le multinazionali dei paesi emergenti: gli investimenti cinesi in Italia Abstract: MNEs from emerging countries: Chinese investments in Italy This paper focuses on a recent phenomenon: the Chinese Go global policy, which encourages domestic firms to enter the global competition through active internationalization processes. At present, Chinese investments are still small compared to the world value of outward foreign direct investments, but it is interesting to focus on their trends and skyrocketing growth. The attention is drawn to the Italian case. Italy is still not playing a major role in Chinese companies? internationalization strategies. Flows and stocks of investments are low and only a small number of companies is investing in Italy. But things are changing quickly. Italy is becoming increasingly interesting for Chinese companies aiming to acquire brands, knowledge and specific competencies, as well as strategic locations to penetrate European markets. The small dimension of the target companies (for acquisitions) encourage Chinese investors to come to Italy. Data on Chinese investments flows, on individual entrepreneurs, as well as on Chinese companies operating in Italy are discussed and analyzed to build a framework to test some preliminary hypotheses and to verify the interest for further research projects. .

Keywords: Go global policy; Chinese OFDIs; Chinese MNEs in Italy
Parole chiave: Go global; IDE cinesi in Italia; acquisizioni ed investimenti cinesi in Italia.

Jel Classification: O5 - F23 Classification-JEL: Keywords: Note: Pages:131-159 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36375&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002007 Number: 7 Template-type: ReDIF-Article 1.0 Author-Name: Gabriele Barbaresco Title: Le societ? controllate dai maggiorni comuni italiani: qualit? ed efficienza nella fornitura dei servizi Abstract: Companies owned by the largest Italian municipal councils: quality and efficiency in the provision of local public services - Calculation and comparison of quality and efficiency indicators in the provision of local public services have been a relatively neglected field of research in industrial economics. Even the regulatory bodies, if any, which supervise these sectors, have generally failed to construct rigorous and exhaustive databases, and therefore lack what would be an essential tool to exercise their power as regulators. An incomplete and unclear picture emerges, where what little available information there is, is to be found in the "charters of service" drawn up by the companies themselves using selfreferential codes and methodologies that are neither shared nor controlled. The lack of transparence in information terms often goes hand-in-hand with operating inefficiencies, which can be perpetrated more easily in the absence of suitable benchmarking activity. This article seeks to provide an account of an extensive research project to collect and compile quality and efficiency indicators which the Mediobanca Research Department has carried out on behalf of the Civicum Foundation with reference to local public service operators controlled by six of the leading Italian municipalities (Bologna, Brescia, Milan, Naples, Rome and Turin) between 2003 and 2007. .

Keywords: local public services, urban hygiene, mains water, electricity, quality, efficiency, municipality-owned companies
Parole chiave: servizi pubblici locali, igiene urbana, acquedotti, elettricit?, qualit?, efficienza, imprese a controllo comunale.

Jel Classification: L90 - L32 Classification-JEL: Keywords: Note: Pages:161-185 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36376&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002008 Number: 8 Template-type: ReDIF-Article 1.0 Author-Name: Andrea Conte Title: Is Italian R&D spending becoming more efficient? Abstract: Is Italian R&D spending becoming more efficient? - The recent economic downturn is putting increasing pressure on governments to improve the quality of their public finances. Using macro-economic data on R&D expenditures and patents, this paper aims to determine whether business and government R&D spending has become more efficient over time and in comparison to other EU countries. Descriptive evidence is coupled with empirical estimates of cross-country efficiency of R&D expenditure calculated by the Stochastic Frontier Analysis. .

Keywords: R&D, patents, efficiency, public finance
Parole chiave: R&S, brevetti, efficienza, finanza pubblica.

Jel Classification: O33 - H50 - C23 Classification-JEL: Keywords: Note: Pages:187-198 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36377&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002009 Number: 9 Template-type: ReDIF-Article 1.0 Author-Name: Francesco Ramella Author-Name: Carlo Trigilia Title: Le strategie dell?innovazione. Indagine sui brevetti europei delle imprese italiane Abstract: The strategies of innovation. Survey on European patents of Italian firms - In international rankings on innovation Italy?s position is particularly weak. Is this image realistic? A recent survey on Italian firms that applied for European patents (EPO) between 1995 and 2004 casts some doubts on this ranking. The article describes the results of the survey and outlines the Italian geography of innovation. The key assumption of the study is that the "patenting potential" of firms and territories depends on their ability in the "social construction" of innovation. In other words, it depends on the effective integration between human and social capital of firms, on the one hand, and collective goods and resources from the local (and non-local) context, on the other. Research results show that: 1) the Italian system of innovation is less weak than usually believed, even in the high technology sectors, and especially in the central and northern regions; 2) in Italy, there are two different territorial and sectoral systems of innovation (the first system is that of mechanics, with its basis in the North-East-Centre; the second one is that of high technology, with its basis in the North-West); 3) these innovation systems are territorially concentrated; 4) what differentiates the most innovative local economic systems is the high endowment of collective goods and universities; 5) the Italian policies for innovation are inadequate, since they tend to neglect the relational and systemic components of innovation. .

Keywords: patents, innovation, high tech, innovative firms, innovation policies, local development
Parole chiave: brevetti, innovazione, alta tecnologia, imprese innovative, politiche per l?innovazione, sviluppo locale .

JEL Classification: Z13 - O31 - R11 Classification-JEL: Keywords: Note: Pages:199-213 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36378&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002010 Number: 10 Template-type: ReDIF-Article 1.0 Author-Name: n.d. Title: Recensioni Abstract: Classification-JEL: Keywords: Note: Pages:215-217 Volume: 36 Year: 2009 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=36379&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:polipo:v:html10.3280/POLI2009-002011 Number: 11