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Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Administrative Sciences [ISSN:] 2076-3387 [Volume:] 12 [Issue:] 4 [Article No.:] 189 [Year:] 2022 [Pages:] 1-18
Verlag: 
MDPI, Basel
Zusammenfassung: 
This paper aims to assess the profitability and employees' productivity of Italian innovative start-ups with a new composite index: the Start-ups Performance score (SP-score). In recent years, the Italian government has made several efforts to foster the economy, establishment, and growth of start-ups. Specifically, the issuing of the Italian Start-up Act in 2012 offers a unique opportunity to examine the Italian setting, given the special conditions that the government granted to the start-ups. The latter obtain generic benefits, tax reductions and hiring facilitations if they meet specific criteria granting the status (label) of 'innovative' by law. Based on a sample of Italian start-ups firms (ISPs) and financial statement data for the period 2016-2020, we test whether the performance of the Italian start-ups which are granted the status of 'innovative' is higher compared to start-ups without the mentioned status (NISPs). We measure the firm's performance by building a composite index which synthesizes both profitability and employees' productivity (controlling for the firms' size), and find that the ISPs report higher SP-score compared to the NISPs. In addition, we examine whether the SP-score is higher (or lower) among Innovative start-ups located in different regional areas. The derivation of the composite indicator (SP-score) allows a clear and effective evaluation of several characteristics, permitting a more comprehensive understanding of the data that support the strategic choices of management and localization entrepreneurship policies. In addition, our study highlights a certain homogeneity of innovative start-ups' performance among the Italian territories, which overcomes the classic dualistic division between Northern and Southern regions.
Schlagwörter: 
composite indicators
entrepreneurship
financial statement analysis
innovative start-ups
start-ups performance
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