The international crisis of 2008 and the subsequent pandemic crisis that is still ongoing, have imposed adequate management control tools, among which the benchmark favors comparison with similar production realities. This research aims to analyze some aspects of the economic-financial dynamics of Italian pasta companies in the period between the two major international crises. The research questions are; RQ1: what was the trend of profitability in the decade considered? RQ2: What were the preferred financial sources? RQ3: Has companies location affect profitability and financial balances? From the Aida database, the balance sheets of 468 companies were taken, with a turnover exceeding € 800,000, characterized by Ateco code 10.73.00 - Production of pasta, couscous, and similar farinaceous products. These companies were also distinguished by geographical area for the decade 2010-2019. The average Roe and Leverage trends for each year were then determined for Italy and each of its macroareas (North, Centre, and South). The data were subjected to numerous statistical elaborations and represented graphically. ANOVA and Tukey-Kramer methods were used for the comparison between macro-regions. Each result is illustrated and described. The balance sheets indicate consistently positive profitability, although it flexes during the reverberations of the international financial crisis in the years 2011-2013. Profitability differences between areas are not statistically significant. Companies are significantly undercapitalized, with statistically significant differences between geographical macroareas. In the future, a similar survey should be extended to other indices and also to smaller companies. Quantitative balance sheet analyses should also be integrated with qualitative studies and interdisciplinary assessments, considering the widespread consumption of pasta due to the expansion Mediterranean diet. This paper implements the literature on Italian food industrial companies. Public policies could use the outcomes to support food industries, favoring their necessary capitalization. Moreover, each firm can compare its results with the average ones of the sector, to propose improvements. Finally, the Italian situation can be exemplary for other countries wishing to develop pasta production.

The Economic and Financial Performance of Italian Pasta Companies between the two Major Crises: Some Initial Reflections (abstract)

Migliaccio Guido;
2021

Abstract

The international crisis of 2008 and the subsequent pandemic crisis that is still ongoing, have imposed adequate management control tools, among which the benchmark favors comparison with similar production realities. This research aims to analyze some aspects of the economic-financial dynamics of Italian pasta companies in the period between the two major international crises. The research questions are; RQ1: what was the trend of profitability in the decade considered? RQ2: What were the preferred financial sources? RQ3: Has companies location affect profitability and financial balances? From the Aida database, the balance sheets of 468 companies were taken, with a turnover exceeding € 800,000, characterized by Ateco code 10.73.00 - Production of pasta, couscous, and similar farinaceous products. These companies were also distinguished by geographical area for the decade 2010-2019. The average Roe and Leverage trends for each year were then determined for Italy and each of its macroareas (North, Centre, and South). The data were subjected to numerous statistical elaborations and represented graphically. ANOVA and Tukey-Kramer methods were used for the comparison between macro-regions. Each result is illustrated and described. The balance sheets indicate consistently positive profitability, although it flexes during the reverberations of the international financial crisis in the years 2011-2013. Profitability differences between areas are not statistically significant. Companies are significantly undercapitalized, with statistically significant differences between geographical macroareas. In the future, a similar survey should be extended to other indices and also to smaller companies. Quantitative balance sheet analyses should also be integrated with qualitative studies and interdisciplinary assessments, considering the widespread consumption of pasta due to the expansion Mediterranean diet. This paper implements the literature on Italian food industrial companies. Public policies could use the outcomes to support food industries, favoring their necessary capitalization. Moreover, each firm can compare its results with the average ones of the sector, to propose improvements. Finally, the Italian situation can be exemplary for other countries wishing to develop pasta production.
978-605-73858-0-2
Economic and financial performance, Roe, Leverage, Anova, Tukey-Kramer
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/20.500.12070/50597
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