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Faculty & Research

ORGANIZED CRIME AND FIRMS: EVIDENCE FROM ANTI-MAFIA ENFORCEMENT ACTIONS - Stefan Zeume

05 Mar
2020
2:00 pm
Jouy-en-Josas
English

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2020-03-05T14:00:00 2020-03-05T15:15:00 ORGANIZED CRIME AND FIRMS: EVIDENCE FROM ANTI-MAFIA ENFORCEMENT ACTIONS - Stefan Zeume Finance Speaker : Stefan Zeume Buil. T - Room T105 Jouy-en-Josas

Finance

Speaker : Stefan Zeume

Buil. T - Room T105

We exploit staggered municipality-level anti-mafia enforcement actions over the period 1995–2015 in Italy to study the effect of organized crime on firms. Following anti-mafia enforcement actions, we find increases in competition among firms, innovation activity, and competition for public procurement contracts. Firms that do not exit after a weakening of organized crime shrink in size and experience a reduction in profitability, particularly subsequent to higher enforcement intensity. These results are more pronounced among firms founded during the heyday of the mafia and operating in the non-tradable sector. Our findings are consistent with accounts of organized crime groups acting as a barrier to entry and affecting economic growth.

 

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Participate

Add to Calendar
2020-03-05T14:00:00 2020-03-05T15:15:00 ORGANIZED CRIME AND FIRMS: EVIDENCE FROM ANTI-MAFIA ENFORCEMENT ACTIONS - Stefan Zeume Finance Speaker : Stefan Zeume Buil. T - Room T105 Jouy-en-Josas