In addition to the firm-level structural, environmental and managerial differences, the discrepancy betweenperformance of firms active in competitive sectors of a country, can be also explained by state-level factors suchas regional economic and political endowments. In other words, institutions impact quality of the businessenvironment and consequently, impact how firms use their resources. However, whether also performance ofnetwork utilities across a country is affected by state-level institutional quality, is yet to be investigatedthoroughly. We aim to close this gap by investigating how quality of local institutions impact performance of theItalian electricity distribution utilities.
展开▼
