In the Midst of Crisis: Knowledge Assets and Operating Efficiency of Italian Listed Companies

摘要: Firms’ knowledge assets represent vital resources that contribute, in general, to corporate performance and value creation. At an earlier stage, they are expected help enhance the operational efficiency of firms belong to. In this light, under a Resource-Based Theory framework, we intend find whether what extent expectancy is verified also during recent crisis Italy. more detail, considered 612 firm-year observations relating Italian listed companies three consecutive years - 2010, 2011 2012 (when financial reached its peak Italy) analysing overall about 7.000 data/numbers Fixed Effects Panel Data Model. The findings robust: document significant positive correlation between Operational Efficiency Patent & Intellectual Property Rights, Goodwill, Trademarks Licenses, while do not with reference Research Development Capital (and Advertising investments), controlling for employees, leverage time/sector dummies. midst very turbulent period, most intellectual (the former) appear from point view valuable reliable than others latter) hampering profitability drop. Hence, unlike tangible assets, such prospected be strategic levers make it possible maintain or enable faster recovery terms wasted efficiency. That is, times, technology, marketing-related contractual-legal significantly associated therefore beneficial results.