Governance, Innovation, Profitability, and Credit Risk: Evidence from Italian manufacturing firms
Alessandra Amendola, Vincenzo Candila Giuseppe Storti, Luca Sensini

Abstract
The research focuses attention on companies in the chemical-plastic sector, investigating corporate governance, investment and financing decisions, innovation, profitability, and credit risk. The investigation method used is mixed. The data and information were extracted from official databases and from a structured questionnaire. The stratified random method was used for sampling. 178 firms are included in the sample. The results show a prevalence of companies owned by a single person or a limited number of shareholders (in some cases of the same family), where the owners centralize decision-making power. Companies have a strong propensity to invest in innovation. Investments are mainly financed by self-financing or equity capital. The analysis of the causal relationships highlights further significant aspects relating to credit risk, profitability and innovation.

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