INNOVAZIONE E ASSETTI PROPRIETARI: UN’ANALISI EMPIRICA SULLE CINQUANTA IMPRESE PIU’ INNOVATIVE DEL 2009

This paper aims to analyze the relationship between innovative capacity and the ownership of international enterprises more innovative in 2009. In this regard, this work aims to assess the way in which innovation activities are carried out, not so much to define a quantitative approach to measuring the ability to innovate, but to highlight the "practice" in carrying out innovation activities themselves. More specifically, these "practices" are intended to clarify with examples of the innovation in business, without having to resort to the calculation of specific quantitative indicators, going to use an analysis approach based on a variety of aspects. In particular, the work deepens the characteristics of the ownership of these companies, divided into three main forms of government: the public company, the company controlled by a shareholder and the family business. In this case, the structure of corporate governance of companies has been analyzed based on two variables: the firm size and the degree of concentration of ownership structure (or Degree of Ownership Concentration). The empirical analysis highlights the relationship between the propensity to invest in highly innovative and structure of corporate governance of companies of the undertakings concerned, going to examine the nature of institutional investors and their ability to influence, in companies where they own a significant share of equity, the decisions of the economic subject in R&D. Finally, the paper aims to provide interesting insights for understanding in substantive terms the way in which businesses operate on investments in R&D, while also allowing the identification of potential problem areas.