“…In line with the literature, listed firms display higher productivity (see, e.g., Barth et al, 2005), while firms in the supplier dominated sector (the reference group in the model) have, ceteris paribus, a lower TFP. Finally, firms located in southern Italy exhibit lower productivity, as has already been stressed in the literature (Aiello, Pupo, & Ricotta F., 2014;Ascari and Di Cosmo, 2005;Byrne, Fazio, & Piacentino, 2009), while firms operating in the Centre of Italy do not seem to differ from northern firms (the reference group). Robust standard errors in parentheses.…”