Abstract
ABSTRACT The aim of the present paper is to investigate if heterogeneity – meant in terms of economic and social development generated by innovative startups – persists or not across the three Italian macro-regions (north, centre, and south of Italy). According to law number (L. n.) 221/2012, Italian innovative startups are characterized by three parameters: (A) investments in R&D activities; (B) hiring experienced researchers; (C) holding a patent. By testing the effect that these parameters can exert in terms of economic and social development, heterogeneity or homogeneity between northern, central, and southern Italian macro-regions is disclosed. Methodologically, statistical elaborations leverage an unbalanced panel of 11,052 Italian innovative startups (data are retrieved from the official website of Italian Chambers of Commerce at http://startup.registroimprese.it) and are carried out through the estimation of a Stochastic Frontier Analysis – SFA without a time variable stochastic efficiency term. Achieved results disclose that heterogeneity persists across Italian macro-regions in reference to factors generating an economic and social impact; however, homogeneity exists in reference to causes of gaps from the efficiency frontier. In particular, results about northern macro-region reveal specific dynamics that – if properly managed – can increase the economic and social impact of innovative startups.
Published Version
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