Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe

Maria Prezioso; Maria Coronato

doi:doi:10.11648/j.ss.s.2014030401.14

| Peer-Reviewed

Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe

Maria Prezioso, Maria Coronato

Published in Social Sciences (Volume 3, Issue 4-1)

Received: 8 May 2014 Accepted: 28 May 2014 Published: 14 June 2014

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

The paper focuses on territorial impacts of the European policy with regards to the enterprise systems in the last decade and how the effects of this policy could have irreparable modified the enterprise network relationships (socio-functional and interrelated/cohesive) in regions. This suspicion has suggested European choices include the territorial dimension in the development directions by the intra and inter-regional co-operation. The searching new forms of balanced growth for enterprise is the future objective; it could be followed by assuming a territorial polycentric cohesive organization. Important European documents, like Europe 2020 Strategy and Territorial Agenda (2011), stress this orientation. A critical review of Economic Geography literature with regards to main localisation theories of enterprise opens this contribution, in order to accompany the reader in understanding of new strategic parameters able to measure `the regional productive capability' of enterprises in the framework of European recent directions. By using innovative methodologies, the performance of enterprise systems and networks looking at these parameters, highlights European specific territorialised typologies of behaviour. Finally, some policy recommendations are suggested in this direction in order to improve the regional productivity, as well as the employment in relation with to specific economic-social-environmental parameters of cohesion and competitiveness in sustainability, looking at the regional productive capability of Small/Medium Firms (SMFs) in Europe with regards to main pillars of the 2014-2020 Strategy.

Published in	Social Sciences (Volume 3, Issue 4-1) This article belongs to the Special Issue Geographical Evidence in Changing Europe
DOI	10.11648/j.ss.s.2014030401.14
Page(s)	28-45
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2014. Published by Science Publishing Group

Keywords

Enterprises’ Economic Geography, European Competitiveness, Sustainability

References

[1]	Aghion P, Howitt P.(1993) A model of growth through creative destruction. Econometrica, 60, 323-51.
[2]	Aschauer D. (1989) Is public expenditure productive?. Journal of Monetary Economics, 23, 177-220.
[3]	Arrow, Kenneth J. 1962. The economic implications of learning by doing. Review of Economic Studies 29, 3: 155-73
[4]	Aw B.Y., Hwangi A. (1995) Productivity and export marker: a firm level analysis. Journal of Development Economics, 47, 209-231.
[5]	Barro J. R. (1990) Government spending in a simple model of endogenous growth. Journal of Political Economy, 20(2), 221-247.
[6]	Brander J., T. Lewis (1986) Oligopoly and ﬁnancial structure: the limited liability effect. American Economic Review, 76, 956–70.
[7]	Brennan M., Kraus A. (1987) Efficient financing under information asymmetric. Journal of Finance 42, 1224-1243.
[8]	Bryant C. R., Preston R. E. (1990) Economic Development in Small Town and Rural Environments. Economic Development Bulletin, 10.
[9]	Camagni R. (2008). Regional competitiveness: towards a theory of territorial capital. In: R. Capello, R. Camagni, P. Chizzolini and R. Frasati, eds. Modelling regional scenarios for the enlarged Europe: European competitiveness and global strategies. Berlin: Springer-Verlag, 33-47.
[10]	Capello R., Carangiu A., Nijkamp P. (2009), Territorial Capital and Regional Growth: Increasing Returns in Cognitive Knowledge Use. Tinbergen Institute Discussion Paper 09-059/3.
[11]	Cappellin R. (2003). Networks and Technological Change in Regional Clusters. In Bröcker J., Dohse D. and Soltwedel R. a cura di., Innovation Clusters in Interregional Competition. Berlin, Springer, 53-78.
[12]	Cass David (1965), Optimum growth in an aggregative model of capital accumulation. Review of Economic Studies 32, 3: 233-40.
[13]	Cheshire P.C., Gordon I.R. (1996) Territorial Competition and the Predictability of Collective (In)Action. International Journal of Urban and Regional Research, 20(3), 383-399.
[14]	Chertow M., Lifset R. (2008) Industrial symbiosis. Encyclopedia of Earth. Available on http://www.eoearth.org/article/Industrial_symbiosis. Last access 6th of November 2013.
[15]	Cheshire P.C., Gordon I.R. (1998) Territorial Competition: Some Lessons For Policy. Annals of Regional Science, 32, 321-346.
[16]	Clerides S.K., Lach S., Tybout J.R. (1998) Is lesrning by exporting important? Microdynamic evidence from Colombia, Mexico, and Morocco. The Quarterly Journal of Economics, 113(3), 903-947.
[17]	Costantinides G., Grundy B. (1989), Optimal investment stock with repurchase and financing as signals. Review of Financial Studies, 445-465
[18]	Davoudi S., Strange I. (2009) Conceptions of Space and Place in Strategic Spatial Planning, Routledge, London.
[19]	Casey J. Dawkins (2003), Regional Development Theory: Conceptual Foundations, Classic Works, and Recent Developments, Journal of Planning Literature, Vol.18, No.2
[20]	Delgado M.A., Farinas J.C. (1999), Firm's productivity and export markets: a nonparametric approach. Mimeo.
[21]	Dixit A., Pindyck R. (1994). Investment under uncertainty. Princeton University Press, Princeton.
[22]	European Communities (2003), European Competitiveness Report, CEC (2003)1299. Final. Brussels.
[23]	European Commission (2005) , Implementation of the Lisbon Partnership for Growth and Jobs The Contribution of Regions and Cities, DI CdR 45. Final Brussels.
[24]	European Commission (2009), The implementation of the Lisbon Strategy. Bruxelles.
[25]	European Commission (2010), Europe2020, a strategy for an intelligent, sustainable and inclusive growth. Available on http://ec.europa.eu/europe2020/index_en.htm. Last access 6th of November 2013
[26]	European Commission (2010), Fifth Report on Economic, Social and Territorial Cohesion, COM(2010)642. Final. Bruxelles.
[27]	European Commission (2005)The New SME Definition: User Guide and Model Declaration European Commission Publications Office, Luxembourg
[28]	European Council of Gothenburg (2001), Presidency conclusions, 15-16 June. Gothenburg.
[29]	European Council of Lisbon (2000), Presidency conclusions, 22-23 march. Lisbon.
[30]	European Council (2007), Territorial Agenda of the European Union. Towards a more competitive and sustainable Europe of diverse regions, Informal Ministerial Meeting on Urban Development and Territorial Cohesion, 24-27 May, Leipzig.
[31]	European Council (2011), Territorial Agenda of the European Union 2020 - Towards an Inclusive, Smart and Sustainable Europe of Diverse Regions, Informal Ministerial Meeting for Spatial Planning and Territorial Development on 19th May 2011 Gödöllő, Hungary.
[32]	Graham E.M., Krugman, P.R. (1993), The surge of foreign direct investment on the 1980s. In K. Froot a cura di. Foreign direct investment. The University of Chicago Press Chicago
[33]	Grossman S., Hart O. (1982), Corporate Financial Structure and Managerial Incentives. In Corporate Financial Structure and Managerial Incentives, 107 – 140.
[34]	Harris M., Raviv A. (1988), The Theory of Capital Structure. The Journal of Finance, 46(1), 297-355.
[35]	Helleiner G.K.. (1989) Transnational corporations and direct foreign investment. In Chenery and T.N. Srinivasan, a cura di. Handbook of Development Economics, vol. III, Cap. 27
[36]	Hoover E. M. (1937). Spatial price discrimination, Rev. Econ. Stud. 4, 182–191
[37]	Isard W. (1956), Location and Space-Economy: A General Theory Relating to Industrial Location, Market Areas, Land Use, Trade and Urban Structure, Cambridge (ma), The mit Press,.
[38]	Jensen M. Michael C. (1986), Agency Costs of Free Cash Flow, Corporate Finance and Takeovers. American Economic Reuiew, 76, 323-29.
[39]	Jensen M. (1988) Takeovers Their Causes and Consequences. The Journal of Economic Perspectives, Vol. 2(1), 21-48.
[40]	Jensen M.C, -Meckling W.H., 1976, Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, The Journal of Financial Economics, 3, 305-360.
[41]	Jørgensen J., Steineke J. M., Copus A., Prezioso M., Hanes N., Al-Assis., Lennert M. (2006) Literature review on regional growth, competitiveness. In: Lennert M., ed, Territorial impacts of EU economic policies and location of economic activities,136-160.
[42]	Kok W. (2004) Facing the Challenge. The Lisbon Strategy for growth and employment. Bruxelles. Final
[43]	Koopmans Tjalling C. (1965), On the concept of optimal economic growth. In The econometric approach to development planning. Pontificae Academiae Scientiarum Scripta Varia No. 28. Amsterdam: North Holland.
[44]	Krugman P. (1995) Development, Geography and Economic Theory. Cambridge MIT Press,.
[45]	Leech D., Leahy, Ownership Structure (1991) Control Type Classifications and the Performance of Large British Companies. The Economic Journal. Vol. 101, 1418-1437
[46]	Lennert M. (2006), Territorial impacts of EU economic policies and location of economic activities, Final Report, Bruxelles.
[47]	Lennert M. (2010), Future orientation for cities, ESPON project FOCI, Luxembourg. Available on http://www.espon.eu/main/Menu_Projects/Menu_AppliedResearch/foci.html. Last access 6th November 2013
[48]	Lipschitz L., Mc Donald D. (1991), Real Exchange Rates and Competitiveness - A Clarification of Concepts, and Some Measurements for Europe‟, IMF Working Papers 91/25, International Monetary Fund
[49]	Lloyd, P. E., Dicken, P. (1986), Spazio e localizzazione. Un 'interpretazione geografica dell'economia. Milano, Franco Angeli
[50]	Lombardi D. R., Laybourn P. (2007) Industrial Symbiosis in Action. Report on the Third International Industrial Symbiosis Research Symposium Birmingham, England, Yale School of Forestry & Environmental Studies.
[51]	Lucas R. E. Jr. (1988) On the mechanics of economic development. Journal of Monetary Economics, 22, 3-42.
[52]	Maksimovic V. (1988) Optimal capital structures in repeater oligopolies. Rand J. Econ, 19, 389-407.
[53]	Markusen J. R. (1992) The Boundaries of Multinational Firms and the Theory of International Trade. Journal of Economic Perspectives, 9, 169-189.
[54]	Marshall A. (1922), Principles of Economics, London. Macmillan.
[55]	Martin P., Roger C. A. (1995) Industrial Location and Public Infra-structures. Journal of International Economics, 39, 335-351.
[56]	Martin R. (1999) The new ‘Geographical Turn’ in Economics: Some critical reflections. Cambridge. Journal of Economy, 23: 65-91.
[57]	Martin R. (2005), Thinking about regional competitiveness: critical issues, Background ‘Think-Piece’ Paper. Available on http://didattica.unibocconi.it/mypage/upload/48731_20100601_124105_RONMARTINPAPER1.PDF. Last access 6th November 2013
[58]	Mc Connel J., Servaes H., (1990) Additional evidence on equity ownership and corporate value. Journal of Financial Economics, 27, 595-612. Berlin, Springer.
[59]	Nickell S. (1995) The Performance of Companies. Oxford Basil Blackwell.
[60]	Nickell S. and Nicolitsas D. (1999) How does Önancial pressure affect Firms? European Economic Review, 43, 1435-1456.
[61]	OECD (2001), Territorial Economy, Territorial Outlook. Available on: http://www.vwl.tuwien.ac.at/hanappi/AgeSo/SecReps/Territorial_Outlook_F.pdf. Last access 6th November 2013
[62]	Porter M. E. (1990) The Competitive Advantage of Nations. New York, Free Press.
[63]	Prezioso M. (1996) Small-medium firms advanced services. Green Quality and Economic-territorial model of localization. In Proceeding of Regional Science Association 36th Congress, Zurich.
[64]	Prezioso M. (2001) Modello di organizzazione territoriale per la gestione della qualita’ ambientale della produzione. In Calafiore G., Palagiano C., Paratore E., eds, Atti del XXVIII Congresso Geografico Italiano 3, 2921-2943. Roma, Epigeo
[65]	Prezioso M. (2006) Territorial dimension of Lisbon-Gothenburg strategy, Espon 3.3 Project Final Report. Available on http://www.espon.eu/export/sites/default/Documents/Projects/ESPON2006Projects/CoordinatingCrossThematicProjects/LisbonStrategy/fr-3.3_final_25-01-2007.pdf . Last access 6th of Novembre 2013
[66]	Prezioso M. (2008) Is it possible to give more relevance at territorial dimension onto competitive and sustainable policy choices? Transition Studies Review, 15(1), 1-32.
[67]	Prezioso M. (2010) The Sustainable Territorial environmental/economic Management Approach to manage global policy impacts and effects. In Cancilla, R., Garganos M., eds. Global Environmental Policies: Impact, Management and Effects, Hauppauge (NY), Nova Science Publishers, 110-163.
[68]	Prezioso M., Renzetti P. (1999) Organizing model for sustainable small and medium firms The Italian case study. In Proceedings of European Regional Science Association 37th Congress. Dublin.
[69]	Ramsey, Frank. 1928. A mathematical theory of saving. Economic Journal 38, 152: 543-59.
[70]	Noe R. A. (1988). An investigation of the determinants of successful assigned mentoring relationships. Personnel Psychology, 41, 457-479.
[71]	Puga D. (1999) The Rise and Fall of Regional Inequalities. European Economic Review, 43, 303-334.
[72]	Ross S. A. (1976) Options and Efficiency. Quarterly Journal of Economics
[73]	Schumpeter, Joseph (1934), The theoryof economic development. Cambridge, MA: Harvard University Press
[74]	Schumpeter, Joseph. (1947) Capitalism, socialism, and democracy. New York: Harper.
[75]	Scott A.J. e Storper M. (2003) Regions, Globalization, Development. Regional Studies, 37, 579-593.
[76]	Short H., (1994) What makes firms perform well? European Economic Review. 41 (3–5), 783–796.
[77]	Stiglitz J.E., Weiss A. (1981) Credit rationing in markets with imperfect information. The American Economic Review, 71 (3), 393-410.
[78]	Stulz R. (1988) Managerial control of voting rights: Financing policies and the market for corporate control. Journal of Financial Economics, 20, 25-54.
[79]	Smith D.M. (1966), A Theoretical Framework for Geographical Studies of Industrial location. Economic Geography, 42, 95-113.
[80]	Stein J.C. (1992) Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation. Journal of Finance, 47, 1461-1484.
[81]	Titman S., (1984), The effect of capital structure on a firm’s liquidation decision. Journal of Financial Economics, 13, 137-151
[82]	Vickerman R. W. (1996). Restructuring of transport networks. EUREC, 3(96), 16-26.
[83]	Vickers J., (1995) Competition and regulation in vertically related markets. Review of economic studies. Vol. 62/95, Oxford, Blackwell Publishers
[84]	Wagner J. (1994) The post-entry performance of new firms in German manufacturing industries. Journal of Industrial Economics, 92, 141-154.
[85]	Weber A. (1929) Theory of the location of industries. Chicago, University of Chicago Press.

Cite This Article

Plain Text BibTeX RIS

APA Style

Maria Prezioso, Maria Coronato. (2014). Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Social Sciences, 3(4-1), 28-45. https://doi.org/10.11648/j.ss.s.2014030401.14

Copy | Download

ACS Style

Maria Prezioso; Maria Coronato. Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Soc. Sci. 2014, 3(4-1), 28-45. doi: 10.11648/j.ss.s.2014030401.14

Copy | Download

AMA Style

Maria Prezioso, Maria Coronato. Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Soc Sci. 2014;3(4-1):28-45. doi: 10.11648/j.ss.s.2014030401.14

Copy | Download

@article{10.11648/j.ss.s.2014030401.14,
  author = {Maria Prezioso and Maria Coronato},
  title = {Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe},
  journal = {Social Sciences},
  volume = {3},
  number = {4-1},
  pages = {28-45},
  doi = {10.11648/j.ss.s.2014030401.14},
  url = {https://doi.org/10.11648/j.ss.s.2014030401.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ss.s.2014030401.14},
  abstract = {The paper focuses on territorial impacts of the European policy with regards to the enterprise systems in the last decade and how the effects of this policy could have irreparable modified the enterprise network relationships (socio-functional and interrelated/cohesive) in regions. This suspicion has suggested European choices include the territorial dimension in the development directions by the intra and inter-regional co-operation. The searching new forms of balanced growth for enterprise is the future objective; it could be followed by assuming a territorial polycentric cohesive organization. Important European documents, like Europe 2020 Strategy and Territorial Agenda (2011), stress this orientation. A critical review of Economic Geography literature with regards to main localisation theories of enterprise opens this contribution, in order to accompany the reader in understanding of new strategic parameters able to measure `the regional productive capability' of enterprises in the framework of European recent directions. By using innovative methodologies, the performance of enterprise systems and networks looking at these parameters, highlights European specific territorialised typologies of behaviour. Finally, some policy recommendations are suggested in this direction in order to improve the regional productivity, as well as the employment in relation with to specific economic-social-environmental parameters of cohesion and competitiveness in sustainability, looking at the regional productive capability of Small/Medium Firms (SMFs) in Europe with regards to main pillars of the 2014-2020 Strategy.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe
AU  - Maria Prezioso
AU  - Maria Coronato
Y1  - 2014/06/14
PY  - 2014
N1  - https://doi.org/10.11648/j.ss.s.2014030401.14
DO  - 10.11648/j.ss.s.2014030401.14
T2  - Social Sciences
JF  - Social Sciences
JO  - Social Sciences
SP  - 28
EP  - 45
PB  - Science Publishing Group
SN  - 2326-988X
UR  - https://doi.org/10.11648/j.ss.s.2014030401.14
AB  - The paper focuses on territorial impacts of the European policy with regards to the enterprise systems in the last decade and how the effects of this policy could have irreparable modified the enterprise network relationships (socio-functional and interrelated/cohesive) in regions. This suspicion has suggested European choices include the territorial dimension in the development directions by the intra and inter-regional co-operation. The searching new forms of balanced growth for enterprise is the future objective; it could be followed by assuming a territorial polycentric cohesive organization. Important European documents, like Europe 2020 Strategy and Territorial Agenda (2011), stress this orientation. A critical review of Economic Geography literature with regards to main localisation theories of enterprise opens this contribution, in order to accompany the reader in understanding of new strategic parameters able to measure `the regional productive capability' of enterprises in the framework of European recent directions. By using innovative methodologies, the performance of enterprise systems and networks looking at these parameters, highlights European specific territorialised typologies of behaviour. Finally, some policy recommendations are suggested in this direction in order to improve the regional productivity, as well as the employment in relation with to specific economic-social-environmental parameters of cohesion and competitiveness in sustainability, looking at the regional productive capability of Small/Medium Firms (SMFs) in Europe with regards to main pillars of the 2014-2020 Strategy.
VL  - 3
IS  - 4-1
ER  -

Copy | Download

Author Information

Maria Prezioso

Dept. Science, Technology and Education (STF), University of Rome “Tor Vergata”, Rome, Italy
Maria Coronato

Ph.D. in Economic Geography, Dept. Human and Education Sciences (DSUF), University of Sassari, Sassari, Italy

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Maria Prezioso, Maria Coronato. (2014). Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Social Sciences, 3(4-1), 28-45. https://doi.org/10.11648/j.ss.s.2014030401.14

Copy | Download

ACS Style

Maria Prezioso; Maria Coronato. Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Soc. Sci. 2014, 3(4-1), 28-45. doi: 10.11648/j.ss.s.2014030401.14

Copy | Download

AMA Style

Maria Prezioso, Maria Coronato. Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe. Soc Sci. 2014;3(4-1):28-45. doi: 10.11648/j.ss.s.2014030401.14

Copy | Download

@article{10.11648/j.ss.s.2014030401.14,
  author = {Maria Prezioso and Maria Coronato},
  title = {Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe},
  journal = {Social Sciences},
  volume = {3},
  number = {4-1},
  pages = {28-45},
  doi = {10.11648/j.ss.s.2014030401.14},
  url = {https://doi.org/10.11648/j.ss.s.2014030401.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ss.s.2014030401.14},
  abstract = {The paper focuses on territorial impacts of the European policy with regards to the enterprise systems in the last decade and how the effects of this policy could have irreparable modified the enterprise network relationships (socio-functional and interrelated/cohesive) in regions. This suspicion has suggested European choices include the territorial dimension in the development directions by the intra and inter-regional co-operation. The searching new forms of balanced growth for enterprise is the future objective; it could be followed by assuming a territorial polycentric cohesive organization. Important European documents, like Europe 2020 Strategy and Territorial Agenda (2011), stress this orientation. A critical review of Economic Geography literature with regards to main localisation theories of enterprise opens this contribution, in order to accompany the reader in understanding of new strategic parameters able to measure `the regional productive capability' of enterprises in the framework of European recent directions. By using innovative methodologies, the performance of enterprise systems and networks looking at these parameters, highlights European specific territorialised typologies of behaviour. Finally, some policy recommendations are suggested in this direction in order to improve the regional productivity, as well as the employment in relation with to specific economic-social-environmental parameters of cohesion and competitiveness in sustainability, looking at the regional productive capability of Small/Medium Firms (SMFs) in Europe with regards to main pillars of the 2014-2020 Strategy.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Entrepreneurship and Territorial Behavior. How to Exercise Competitiveness in Sustainability in Europe
AU  - Maria Prezioso
AU  - Maria Coronato
Y1  - 2014/06/14
PY  - 2014
N1  - https://doi.org/10.11648/j.ss.s.2014030401.14
DO  - 10.11648/j.ss.s.2014030401.14
T2  - Social Sciences
JF  - Social Sciences
JO  - Social Sciences
SP  - 28
EP  - 45
PB  - Science Publishing Group
SN  - 2326-988X
UR  - https://doi.org/10.11648/j.ss.s.2014030401.14
AB  - The paper focuses on territorial impacts of the European policy with regards to the enterprise systems in the last decade and how the effects of this policy could have irreparable modified the enterprise network relationships (socio-functional and interrelated/cohesive) in regions. This suspicion has suggested European choices include the territorial dimension in the development directions by the intra and inter-regional co-operation. The searching new forms of balanced growth for enterprise is the future objective; it could be followed by assuming a territorial polycentric cohesive organization. Important European documents, like Europe 2020 Strategy and Territorial Agenda (2011), stress this orientation. A critical review of Economic Geography literature with regards to main localisation theories of enterprise opens this contribution, in order to accompany the reader in understanding of new strategic parameters able to measure `the regional productive capability' of enterprises in the framework of European recent directions. By using innovative methodologies, the performance of enterprise systems and networks looking at these parameters, highlights European specific territorialised typologies of behaviour. Finally, some policy recommendations are suggested in this direction in order to improve the regional productivity, as well as the employment in relation with to specific economic-social-environmental parameters of cohesion and competitiveness in sustainability, looking at the regional productive capability of Small/Medium Firms (SMFs) in Europe with regards to main pillars of the 2014-2020 Strategy.
VL  - 3
IS  - 4-1
ER  -

Copy | Download