Sample selection
| Selection process description | Total | Listed or state-participated | Unlisted and nonstate participated |
|---|---|---|---|
| Top 250 companies by total asset selected from “Le principali Società Italiane”, R&S Mediobanca for the years 2010 and 2017 | 250 companies | 100 (40%) | 150 (60%) |
| Companies not appearing in both years 2010 and 2017 | 134 companies | 43 (32%) | 91 (68%) |
| Final sample (Companies that ranked in the top 250 in both 2010 and 2017) | 116 companies | 57 (49%) | 59 (51%) |
| Company year observation | 232 |
| Selection process description | Total | Listed or state-participated | Unlisted and nonstate participated |
|---|---|---|---|
| Top 250 companies by total asset selected from “Le principali Società Italiane”, R&S Mediobanca for the years 2010 and 2017 | 250 companies | 100 | 150 |
| Companies not appearing in both years 2010 and 2017 | 134 companies | 43 | 91 |
| Final sample | 116 companies | 57 | 59 |
| Company year observation | 232 |