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Table 4 Results of the empirical analysis

From: Logistics FDI in Italy: integration strategies and motivations

Motivation

Integration strategies

Horizontal

Vertical

Conglomerate

Hypothesis

Results

Hypothesis

Results

Hypothesis

Results

Competitive considerations

 1a) Increasing market or political power

c

c

b

c

a

a

 1b) Defending market share

c

c

b

c

a

n.t.

Efficiency considerations

 2a) Economies of scale

c

c/a(1)

a

b

a

b

 2b) Economies of scope

a

a

c

c

a

a

 2c) Elimination of transaction costs

a

a

c

c

a

b

Other considerations

 3a) Regulation

b

c

b

n.t.

a

n.t.

 3b) Access to technologies

c

n.t.

b

n.t.

b

n.t.

 3c) High capital return

 

a

 

a

 

c

  1. a not relevant; brelevant;cextremely relevant; n.t.: not tested; (1) not relevant for urban public transport