Università degli studi di Modena e Reggio Emilia

Economics and finance in the metalworking sector

(vedi tipologia).(pdf) | testo completo pdf
WP 658, DEP, Unversità di Modena e Reggio Emilia

In 2010, the research group of the University of Modena and Reggio Emilia, who analyses the structural characteristics of the mechanical industry in Italy, began an in-depth study on the economic and financial data of mechanical enterprises, processed on the balance sheet data from the Aida database (Bureau van Dijk).
1. Objectives
The aim of the research project is to analyse the restructuring data that characterise the main sectors of the mechanical engineering industry in Italy. The discussion on this topic is based on the results produced by the research on the mechanical industry in Italy (2008, by M. Russo), for the identification of the areas of mechanical specialization and on the analysis of the balance data that the UniMORE research group is working on.

The research project aims to contribute to the reflection on the structural characteristics of the Italian mechanical industry providing a better focus on the strengths and weaknesses that accompany the exit phase from the crisis. Moreover, the project tries to identify the industrial and local development policies that could more effectively support the recovery.

2. Expected results
1. To acquire knowledge and information, derived from the balance sheet data, on the economic and financial structure of companies in the different sectors, in the distinct size classes and types of LLS in which they are located.
2. To identify a typology of mechanical enterprises, present in the production systems of the Northern Italian regions.
3. To formulate a strategic initiative to support the development of the cluster of mechanics present in the regions of Northern Italy, indicating the policies to support the competitiveness and innovation of these enterprises.

3. Methodology
The research is based on the processing of balance sheet data (since 2005) of metallurgical and mechanical enterprises (Ateco 2007: codes 24-31)
Each company is associated with the type of local work system in which it is located, according to the typology identified in the research on LLS with mechanical specialization (see typology).
We elaborated the indicators of the balance sheet structure (type of investments, composition of capital, specific composition of fixed assets), the structure of the income statement, balance sheet indicators (ROE, -Return on Equity- and leverage, ROA-ROS -Return on Assets, Return on Sales- and turnover of assets, coverage of financial charges, liquidity ratios).

4. Papers produced by the research group

mechanical enterprises in the province of Modena

Erica Poli (2010)
"Economics and finance in the metalworking sector: an empirical survey on enterprises in the province of Modena"
Master's thesis in Analysis, Consultancy and Financial Management, discussed on 23rd April 2010,
supervisor Prof. Luciana Canovi
summary (pdf) | full text pdf

companies in the northern regions of Italy

Luciana Canovi, Margherita Russo, Monica Baracchi and Daniela Bigarelli (2011)
Economics and finance in mechanical engineering enterprises in the northern regions of Italy 2000-2008". WP 658, DEP, University of Modena and Reggio Emilia
The paper was presented at the workshop "Discussing development | second meeting | Modena", Cycle of discussions by research groups from the universities of Ferrara, Modena and Parma, Wednesday 2nd March 2011, 10.30 am - 4.00 pm, Officina Emilia, Via Tito Livio 1, Modena.

Luciana Canovi, Davide Ferrari, Sandra Paterlini, Margherita Russo, Monica Baracchi and Daniela Bigarelli (2013)
"Typology of mechanical engineering enterprises in the northern regions: multidimensional analysis"
in preparation

Scientific Direction: Luciana Canovi and Margherita Russo - University of Modena and Reggio Emilia.
Monica Baracchi and Daniela Bigarelli - R&I srl, Davide Ferrari and Sandra Paterlini - University of Modena and Reggio Emilia collaborate with the research group.