Managerial training and business transformation in Italian manufacturing firms. The Role of the National Recovery and Resilience Plan

This paper explores the role of the National Recovery and Resilience Plan (NRRP) as a driver for the reconfiguration of companies’ business profile in the Italian economy. Using a unique database containing information on 1,779 Italian manufacturing firms, we find that the NRRP has stimulated a significant reconfiguration of their business profile. Interestingly, companies that invest in managerial training are more likely to fully leverage the opportunities created by the NRRP. In contrast, no effect is found for firms investing in general training or those with a high proportion of white-collar workers. These findings highlight the importance of managerial capabilities in enabling firms to navigate transformations and reshape their business profile accordingly.