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作者

Valentina Morretta;Stephen Syrett;Leandro Sepulveda Ramirez

来源

EUROPEAN PLANNING STUDIES,Vol.28,Issue.12

语言

英文

关键字

作者单位

a Department of Economics, Management and Quantitative Methods, University of Milan, Milano, Italy;b Centre for Economic and Enterprise Development Research, Middlesex University, London, UK;b Centre for Economic and Enterprise Development Research, Middlesex University, London, UK

摘要

This paper investigates how territorial capital, defined as a ‘mix‘ of tangible and intangible local resources accumulated over time across different territories, becomes a source of competitive advantage for firms. The study draws upon semi-structured interviews with firms' owner-managers operating in the North and South of Italy and shows how local resources generate firms' costs and differentiation advantages through acting as territorial externalities or becoming an essential core asset to the firm. Results demonstrate how local resources are highly interconnected, making territorial capital unique in each place and not easily imitable, which ensures long term competitive advantages for those firms that benefit from its endowment. A mix of advanced local resources developed through long term investment is shown to be more valuable for firms than inherited resources, provided by ‘God’ or ‘ancestors’. Using the concept of territorial capital in this manner provides insights into understanding sources of firm competitiveness related to location and the persistence of territorial economic disparities.