Resilient SMES, Institutions and Justice. Evidence in Italy

Abstract

Abstract The recent financial crisis (2008) seriously affected the credibility of European and Italian institutions. It was also characterized by a general pessimism and low expectations of economic operators, especially firms. In literature, relationships between the quality of institutions and economic activities have been widely investigated. They show how the judicial system, the regulatory authorities and governance are important aspects for the quality of institutions. The main conclusion of existing literature, or the necessity of a reform of judicial system, is the basis of this work. Thus, here there is an attempt to investigate the performances of the judicial system, considering the low and poor level of its effects on firms’ performances. In particular, in this work, there is a simple empirical analysis (data paucity is the big limit) in order to investigate the consequences of an efficient, long-time justice on resilient firms’ confidence and perspective. Those resilient firms, able to overcome the financial crisis, show their ability in surviving, even if justice doesn’t help them.