When the process of institutional transformation reached its peak at the end of the Nineties, man... more When the process of institutional transformation reached its peak at the end of the Nineties, many commentators (and politicians) said the Italian system of governance, ownership and control of large firms was on the verge of a (hopefully) quick process of convergence towards the Anglo-Saxon standards of transparency, protection of minority shareholders, diffused presence of institutional investors able to exert a monitoring role over the management and an increase in the efficiency of the whole system. Apart from these expectations, this process has been occuring at a very slow pace – and according to other observers, has not taken place at all. This article through a dynamic, historical approach reconstructs the process of evolution and change in the institutional framework, and explores the reasons of this limited convergence.
The present contribution focuses on two issues. The first one concerns the characteristics of ind... more The present contribution focuses on two issues. The first one concerns the characteristics of industrial districts and the increasing weight of these districts in the Italian system of production. The second issue is about the competitiveness of the Italian industrial districts, if they represent a model of success or rather a weak system of production. Thus, the transformation of the industrial districts is examined and the strengths and weaknesses are highlighted. One argument that comes out of this investigation is that industrial districts are strongly influenced by institutions, territory, and also by the social and cultural environment. The second argument regards the competitiveness of this Italian industrial development model, based on SMEs, which is founded on the specialization of productions, on innovation and internationalization. The paper argues that this model, which represents the "Made in Italy", is still a strong and dynamic system which has shown good performances and it represents a paradigm of lasting competitiveness, even if it is restrained by many external chronic constraints.
USA). He is a founding board member of IFERA and serves as editor of Family Business Review and a... more USA). He is a founding board member of IFERA and serves as editor of Family Business Review and as an editorial board member of several other academic journals. Åsa Björnberg holds the Institute for Family Business (IFB UK) Research Fellowship in association with LIFBRI at London Business School (UK). Her background is in Organizational and Clinical psychology, and her research interests centre on family development/functioning in relation to leadership, culture and performance of family firms. Åsa Björnberg also works as a personal development coach and an academic translator.
RE-INDUSTRIALIZATION IN THE MIDDLE EAST SINCE 1800 Like many other parts of the world, in the las... more RE-INDUSTRIALIZATION IN THE MIDDLE EAST SINCE 1800 Like many other parts of the world, in the last two hundred years or so the Middle East has gone through a process of de-industrialization followed by reindustrialization.* The decline in handicrafts continued until well after the First World War. But by then another development was under way: the growth of a modern factory industry that started around the 1890s, gathered increasing momentum in the 1920s and 1930s, and since the Second World War has proceeded at a very rapid pace. Most Middle Eastern crafts had been in decline since the late Middle Ages 1 and there is much evidence that by the eighteenth century, if not earlier, some were suffering from the competition of Indian textiles and still more from that of European goods. Thus Tunisian fezzes began to lose their export markets to the French as early as the seventeenth century. 2 In Egypt and Syria exports of linen and cotton cloth and cotton yarn to France and England fell off sharply in the second half of the eighteenth century, partly because of protective duties in the importing countries, partly because of technological progress in Europe, and partly because of the deterioration in the quality of Middle Eastern goods; they were increasingly replaced by exports of raw cotton, flax, and wool. Conversely, imports of European woolens, as well as paper, glass, hardware, and other manufactured goods rose sharply. 3 There is some evidence of a decrease in output and exports of silk cloth in Bursa toward the end of the eighteenth century, accompanied by a large increase in exports of raw silk. 4 In the European parts of the Ottoman Empire-Istanbul, Salonica, and Edirne, for example-textile manufacturing also declined. 5 And European observers were, with few exceptions, very critical of the quality of Middle Eastern handicrafts. 6 However, the picture must not be overdrawn. The cities of the Middle East contained hundreds of thousands of handicraftsmen, who supplied the bulk of the region's consumption of manufactured goods. Particularly noteworthy were those
The relation between large blockholders and minorities is notoriously a problematic one, and part... more The relation between large blockholders and minorities is notoriously a problematic one, and particularly when the controlling shareholder is the Government. This article explores this issue referring to the history of corporate governance practices at IRI, a huge diversified group in which companies State ownership was for long associated with that of several thousands of private small shareholders. The case provides some useful insights in order to understand the external and internal conditions under which such a partnership may last, or come to an end.
This article may be used for research, teaching, and private study purposes. Any substantial or s... more This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing, systematic supply, or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae, and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand, or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material.
The purpose of the Economic History Working Papers (Quaderni di Storia economica) is to promote t... more The purpose of the Economic History Working Papers (Quaderni di Storia economica) is to promote the circulation of preliminary versions of working papers on growth, finance, money, institutions prepared within the Bank of Italy or presented at Bank seminars by external speakers with the aim of stimulating comments and suggestions. The present series substitutes the Historical Research papers-Quaderni dell'Ufficio Ricerche Storiche. The views expressed in the articles are those of the authors and do not involve the responsibility of the Bank.
Alfred Chandler pointed out how us large corporation adapted to expansion of mass consumption by ... more Alfred Chandler pointed out how us large corporation adapted to expansion of mass consumption by changing from "functional organisation" (U. Form) to "operational organisation" (M. Form). This model was systematically introduced in the Western Europe after W.W.II. This adoption of an American model was not total because of a smaller concern for marketing (in Germany), or because of a persistent holding organisation (uk, France, Italy). Through the 1970's-1980's the model of big multidivisional and managerial corporation was criticized but kept progressing, as pointed it the recent experience of privatisations, adapted to national specificities, because of persistent concentration of shareholding (uk, Italy), resistant individual capitalism (Germany), or heavy weight of state (France).
Over the century and a half since its unification, Italy caught up with the most advanced economi... more Over the century and a half since its unification, Italy caught up with the most advanced economies. Such a result was achieved in the presence of an industrial structure which is in many respects unique in international perspective and characterized by a dominance of small firms and a marginal role of large firms. In the last twenty years, however, this pattern seems to have come to a halt. In this paper we explore the determinants of such a dynamic in the long run. The focus will be on the role played by institutions in forging an array of industrial policies in place over the last 150 years which determined the process of convergence and, more recently, of divergence in big business, and the outstanding, constant presence of a small business sector far beyond the average of the most advanced countries among which Italy is still considered to be.
We provide here a complement to recent work on family business, which has demonstrated the need t... more We provide here a complement to recent work on family business, which has demonstrated the need to go beyond the generic definition of the family firm to place personal capitalism in an appropriate institutional, historical, and cultural framework. By focusing on the nineteenth-and twentieth-century experiences in Britain, Spain, and Italy, we challenge the notion that in the nineteenth and twentieth centuries there was anything so simple as a Mediterranean model for family business. Rather, we demonstrate the need to consider family businesses in national and regional contexts if we are to understand their various capabilities and characteristics. We use similarities and differences in the experiences and responses of families and firms in the three countries to support this claim. Family firms have commonly been seen as a versatile and successful entrepreneurial response to market failures during the early stages
Page 1. 765 L'INDUSTRIA / ns, a. XXV, n. 4, ottobre-dicembre 2005 Indice dell&am... more Page 1. 765 L'INDUSTRIA / ns, a. XXV, n. 4, ottobre-dicembre 2005 Indice dell'annata 2005 Francesco Aiello, Paola Cardamone e Valeria Pupo, Produttività e capitale tecnologico nel settore manifatturiero italiano (1) p. 119 Gianluigi Alzona e Donato Iacobucci, Introduzione: Le «medie imprese» fra controllo familiare e network globali (2) 201 Antonio Aquino, Il Mezzogiorno come opportunità (3) 583 Patrizio Bianchi e Marco R. Di Tommaso, Presentazione (1), (2), (3), (4) 3/199/ 399/611 ...
When the process of institutional transformation reached its peak at the end of the Nineties, man... more When the process of institutional transformation reached its peak at the end of the Nineties, many commentators (and politicians) said the Italian system of governance, ownership and control of large firms was on the verge of a (hopefully) quick process of convergence towards the Anglo-Saxon standards of transparency, protection of minority shareholders, diffused presence of institutional investors able to exert a monitoring role over the management and an increase in the efficiency of the whole system. Apart from these expectations, this process has been occuring at a very slow pace – and according to other observers, has not taken place at all. This article through a dynamic, historical approach reconstructs the process of evolution and change in the institutional framework, and explores the reasons of this limited convergence.
The present contribution focuses on two issues. The first one concerns the characteristics of ind... more The present contribution focuses on two issues. The first one concerns the characteristics of industrial districts and the increasing weight of these districts in the Italian system of production. The second issue is about the competitiveness of the Italian industrial districts, if they represent a model of success or rather a weak system of production. Thus, the transformation of the industrial districts is examined and the strengths and weaknesses are highlighted. One argument that comes out of this investigation is that industrial districts are strongly influenced by institutions, territory, and also by the social and cultural environment. The second argument regards the competitiveness of this Italian industrial development model, based on SMEs, which is founded on the specialization of productions, on innovation and internationalization. The paper argues that this model, which represents the "Made in Italy", is still a strong and dynamic system which has shown good performances and it represents a paradigm of lasting competitiveness, even if it is restrained by many external chronic constraints.
USA). He is a founding board member of IFERA and serves as editor of Family Business Review and a... more USA). He is a founding board member of IFERA and serves as editor of Family Business Review and as an editorial board member of several other academic journals. Åsa Björnberg holds the Institute for Family Business (IFB UK) Research Fellowship in association with LIFBRI at London Business School (UK). Her background is in Organizational and Clinical psychology, and her research interests centre on family development/functioning in relation to leadership, culture and performance of family firms. Åsa Björnberg also works as a personal development coach and an academic translator.
RE-INDUSTRIALIZATION IN THE MIDDLE EAST SINCE 1800 Like many other parts of the world, in the las... more RE-INDUSTRIALIZATION IN THE MIDDLE EAST SINCE 1800 Like many other parts of the world, in the last two hundred years or so the Middle East has gone through a process of de-industrialization followed by reindustrialization.* The decline in handicrafts continued until well after the First World War. But by then another development was under way: the growth of a modern factory industry that started around the 1890s, gathered increasing momentum in the 1920s and 1930s, and since the Second World War has proceeded at a very rapid pace. Most Middle Eastern crafts had been in decline since the late Middle Ages 1 and there is much evidence that by the eighteenth century, if not earlier, some were suffering from the competition of Indian textiles and still more from that of European goods. Thus Tunisian fezzes began to lose their export markets to the French as early as the seventeenth century. 2 In Egypt and Syria exports of linen and cotton cloth and cotton yarn to France and England fell off sharply in the second half of the eighteenth century, partly because of protective duties in the importing countries, partly because of technological progress in Europe, and partly because of the deterioration in the quality of Middle Eastern goods; they were increasingly replaced by exports of raw cotton, flax, and wool. Conversely, imports of European woolens, as well as paper, glass, hardware, and other manufactured goods rose sharply. 3 There is some evidence of a decrease in output and exports of silk cloth in Bursa toward the end of the eighteenth century, accompanied by a large increase in exports of raw silk. 4 In the European parts of the Ottoman Empire-Istanbul, Salonica, and Edirne, for example-textile manufacturing also declined. 5 And European observers were, with few exceptions, very critical of the quality of Middle Eastern handicrafts. 6 However, the picture must not be overdrawn. The cities of the Middle East contained hundreds of thousands of handicraftsmen, who supplied the bulk of the region's consumption of manufactured goods. Particularly noteworthy were those
The relation between large blockholders and minorities is notoriously a problematic one, and part... more The relation between large blockholders and minorities is notoriously a problematic one, and particularly when the controlling shareholder is the Government. This article explores this issue referring to the history of corporate governance practices at IRI, a huge diversified group in which companies State ownership was for long associated with that of several thousands of private small shareholders. The case provides some useful insights in order to understand the external and internal conditions under which such a partnership may last, or come to an end.
This article may be used for research, teaching, and private study purposes. Any substantial or s... more This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing, systematic supply, or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae, and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand, or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material.
The purpose of the Economic History Working Papers (Quaderni di Storia economica) is to promote t... more The purpose of the Economic History Working Papers (Quaderni di Storia economica) is to promote the circulation of preliminary versions of working papers on growth, finance, money, institutions prepared within the Bank of Italy or presented at Bank seminars by external speakers with the aim of stimulating comments and suggestions. The present series substitutes the Historical Research papers-Quaderni dell'Ufficio Ricerche Storiche. The views expressed in the articles are those of the authors and do not involve the responsibility of the Bank.
Alfred Chandler pointed out how us large corporation adapted to expansion of mass consumption by ... more Alfred Chandler pointed out how us large corporation adapted to expansion of mass consumption by changing from "functional organisation" (U. Form) to "operational organisation" (M. Form). This model was systematically introduced in the Western Europe after W.W.II. This adoption of an American model was not total because of a smaller concern for marketing (in Germany), or because of a persistent holding organisation (uk, France, Italy). Through the 1970's-1980's the model of big multidivisional and managerial corporation was criticized but kept progressing, as pointed it the recent experience of privatisations, adapted to national specificities, because of persistent concentration of shareholding (uk, Italy), resistant individual capitalism (Germany), or heavy weight of state (France).
Over the century and a half since its unification, Italy caught up with the most advanced economi... more Over the century and a half since its unification, Italy caught up with the most advanced economies. Such a result was achieved in the presence of an industrial structure which is in many respects unique in international perspective and characterized by a dominance of small firms and a marginal role of large firms. In the last twenty years, however, this pattern seems to have come to a halt. In this paper we explore the determinants of such a dynamic in the long run. The focus will be on the role played by institutions in forging an array of industrial policies in place over the last 150 years which determined the process of convergence and, more recently, of divergence in big business, and the outstanding, constant presence of a small business sector far beyond the average of the most advanced countries among which Italy is still considered to be.
We provide here a complement to recent work on family business, which has demonstrated the need t... more We provide here a complement to recent work on family business, which has demonstrated the need to go beyond the generic definition of the family firm to place personal capitalism in an appropriate institutional, historical, and cultural framework. By focusing on the nineteenth-and twentieth-century experiences in Britain, Spain, and Italy, we challenge the notion that in the nineteenth and twentieth centuries there was anything so simple as a Mediterranean model for family business. Rather, we demonstrate the need to consider family businesses in national and regional contexts if we are to understand their various capabilities and characteristics. We use similarities and differences in the experiences and responses of families and firms in the three countries to support this claim. Family firms have commonly been seen as a versatile and successful entrepreneurial response to market failures during the early stages
Page 1. 765 L'INDUSTRIA / ns, a. XXV, n. 4, ottobre-dicembre 2005 Indice dell&am... more Page 1. 765 L'INDUSTRIA / ns, a. XXV, n. 4, ottobre-dicembre 2005 Indice dell'annata 2005 Francesco Aiello, Paola Cardamone e Valeria Pupo, Produttività e capitale tecnologico nel settore manifatturiero italiano (1) p. 119 Gianluigi Alzona e Donato Iacobucci, Introduzione: Le «medie imprese» fra controllo familiare e network globali (2) 201 Antonio Aquino, Il Mezzogiorno come opportunità (3) 583 Patrizio Bianchi e Marco R. Di Tommaso, Presentazione (1), (2), (3), (4) 3/199/ 399/611 ...
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