Luca Grilli

TL;DR: It is shown that the optimal regulated price is higher in the region with the more efficient providers, and that decentralisation of price regulation implies higher expenditure but higher patients' welfare.

TL;DR: In this paper, the authors presented a multicriteria approach in a fuzzy contest in which decision makers provided the assessment of alternatives and the evaluations of weights for criteria having recourse to linguistic variables.

TL;DR: In this article, the authors conducted a survey on sustainable mobility at the University of Foggia to detect and evaluate the mobility routines of community members (students, academic and administrative staff).

Abstract: In this work, we compare sales, employees and total assets growth of Venture Capital (VC)-backed and non VC-backed New Technology-Based Firms (NTBFs). Our focus is on the type of investor, and in particular on the treatment effect that public venture capitalists (PUVCs), further distinguished into governmental and university funds, exert on the growth performances of European NTBFs. We consider a unique and recently constituted longitudinal dataset composed of 8391 NTBFs from seven European countries (Belgium, Finland, France, Germany, Italy, Spain, UK) and observed from 1984 (or subsequent foundation year) to 2009. The results of econometric estimates indicate that overall NTBFs financed by PUVCs underperform with respect to firms invested by private venture capitalists (PRVCs) in terms of growth (of any type), but that the impact of PUVC is still positive and significant when it comes from governmental rather than university sources and it is provided to very young NTBFs. This evidence highlights that “hands-on” governmental intervention in the venture capital market can be extremely valuable for NTBFs in the early stages of their lives.