Stock Exchange Markets in Hong Kong: Structure and Main Problems

With reference to a previous analysis of the characteristics and morphology of the stock markets of Mainland China (Shanghai and Shenzhen), the study aims at completing the overview of the main Asian stock exchanges (excluding Japan), by examining the Hong Kong stock exchange. After a review of the main literature, the paper considers the historical-legislative process that has defined the current organizational-functional structure of the market. The analysis also shows the main statistical data of the market (number of listed companies, trading volume, performance of the main indices, etc.). For every considered phenomenon, the study suggests plausible explanations. The paper also provides further considerations about the main issues of the market, through a comparison with the stock exchanges of Mainland China.     

IEA/WHO toolkit for WMSDs prevention: criteria and practical tools for a step by step approach

When studying WMSDs, several determinants and their interrelationship are considered as relevant. Hence the necessity of an "holistic" approach to prevention, especially when preparing technical rules and strategic plans. There is a strong request, from OSH agencies and operators, for developing "simple" tools for risk assessment and management. In this context WHO asked IEA to develop a "Toolkit for WMSD prevention". The paper presents one of the main contribution to this WHO project, focused on selecting tools at different level for hazard identification, risk estimation and management. Proposals are based on two essential criteria: Acting on a step-by-step approach; Taking into account the presence of multiple influencing factors. The proposals consider: A Basic Step devoted to hazard identification by operative "key-enter" questions, that can be operated also by non-experts. A First Step, (quick assessment), for identifying 3 possible conditions: acceptable; high risk present; more detailed analysis (via tools presented at second step) necessary. This step can be operated by non-experts with only some specific training. A Second Step, where recognized (i.e. from international standards or guidelines) tools for risk estimation are used. This step can be operated only by persons with some specific training.     

The Chinese Banking System: Economic Performance and Prospects for Future Development

This paper examines the main characteristics of the Chinese banking industry. In particular, it analyses the main performance indicators of the system together with some prospects of future development. The paper also considers the problems related to high levels of non-performing loans and the internationalization paths of the Chinese banking market. In spite of some recent reforms, further legislative improvements are required to develop the system and to allow a gradual opening to foreign competition.

Italian Adult Gambling Behavior: At Risk and Problem Gambler Profiles

The present study examined adult gambling behaviours from a local perspective in order to assess the adult at risk and problem gambler’s profile stratified by genre and by different forms of game. 4773 Italian adults from 18 to 94 years old were administered a survey to assess socio-cultural information related to gambling behaviour and the SOGS to evaluate gambling behaviour severity. Logistic regression evidenced that both at risk and problem gamblers are associated with male gender, players that use to play to more than one game, gambling with strategy-based games. People with a gambler father or both parents who used to gamble were significantly more associated with problem gambling behaviour than participants with non-gambler parents. These results present adult profiles of at risk and problem providing a more clear understanding about the relationships between gambling behavior severity and type of gambling.     

WHY DO MOST ITALIAN YOUTHS LIVE WITH THEIR PARENTS? INTERGENERATIONAL TRANSFERS AND HOUSEHOLD STRUCTURE

More than 80% of Italian men aged 18–30 live with their parents. We argue that one contributing factor to this remarkably high rate of cohabitation is parents' tastes for coresidence. In order to investigate the role of parental preferences, we estimate the effect of exogenous changes in parental income on rates of cohabitation in Italy using Survey of Households' Income and Wealth (SHIW) micro data from 1989 to 2000. In order to identify a source of exogenous variation in parental income, we use changes in fathers' retirement age induced by the 1992 reform of the Italian Social Security system as an instrumental variable for parental income. By raising retirement age, this reform forced some fathers to remain in the labor market longer than they would have otherwise, therefore raising their disposable income. We use a two‐sample instrumental variable (TSIV) strategy. Our TSIV estimates indicate that a rise in parents' income significantly raises the children's propensity to live at home: A 10% increase in annual parental income results in approximately a 10% rise in the proportion of men living with their parents. Although we cannot definitely rule out alternative interpretations, these results are consistent with our hypothesis that cohabitation is a normal good for Italian parents. (JEL: J120, J610, H550)     

Measuring Regional Performance in the Italian NHS: Are Disparities Decreasing?

Social Indicators Research - Given the regional disparities that historically characterize the Italian context, in this paper we propose a framework to evaluate the regional health care...     

Resistance distance,closeness, and betweenness

In a seminal paper Stephenson and Zelen (1989) rethought centrality in networks proposing an information-theoretic distance measure among nodes in a network. The suggested information distance diverges from the classical geodesic metric since it is sensible to all paths (not just to the shortest ones) and it diminishes as soon as there are more routes between a pair of nodes. Interestingly, information distance has a clear interpretation in electrical network theory that was missed by the proposing authors. When a fixed resistor is imagined on each edge of the graph, information distance, known as resistance distance in this context, corresponds to the effective resistance between two nodes when a battery is connected across them. Here, we review resistance distance, showing once again, with a simple proof, that it matches information distance. Hence, we interpret both current-flow closeness and current-flow betweenness centrality in terms of resistance distance. We show that this interpretation has semantic, theoretical, and computational benefits.     

A Generalized Log-Normal Model for Grouped Survival Data

It is common to have experiments in which it is not possible to observe the exact lifetimes but only the interval where they occur. This sort of data presents a high number of ties and it is called grouped or interval-censored survival data. Regression methods for grouped data are available in the statistical literature. The regression structure considers modeling the probability of a subject's survival past a visit time conditional on his survival at the previous visit. Two approaches are presented: assuming that lifetimes come from (1) a continuous proportional hazards model and (2) a logistic model. However, there may be situations in which none of the models are adequate for a particular data set. This article proposes the generalized log-normal model as an alternative model for discrete survival data. This model was introduced by Chen (1995 Chen , G. ( 1995 ). Generalized Log-normal distributions with reliability application . Comput. Stat. Data Anal. 19 : 300 – 319 . [Google Scholar]) and it is extended in this article for grouped survival data. A real example related to a Chagas disease illustrates the proposed model.