Corporate governance effectiveness along the entrepreneurial process of a family firm: the role of private equity

This paper was motivated by the increasing interest in the corporate governance debate on how effective structure and processes may influence entrepreneurial transitions. Along the entrepreneurial process, little research to date has investigated the exit in the context of entrepreneurial family firms. Previous literature has considered the exit mainly as a failure for entrepreneurial families, but when uncertainties arise this choice may enable ownership transitions, thus facilitating survival and long term strategies. Among the exit options, a private equity buyout may balance the family’s wealth protection and the firm’s future growth. However, which family specific characteristics and strategic needs may affect the exit option still remains a neglected topic. Drawing on corporate governance literature and recent research addressing entrepreneurship in family firms, this paper investigates, by a single case study, the bridging role of private equity buyout for going through entrepreneurial transitions. Findings suggest that a private equity buyout is a governance mechanism that may sustain an entrepreneurial transition by realigning family interests and goals. It may also allow the family commitment for improving organizational capabilities required by an entrepreneurial transition.     

Land grabbing: a preliminary quantification of economic impacts on rural livelihoods

Global demands on agricultural land are increasing due to population growth, dietary changes and the use of biofuels. Their effect on food security is to reduce humans’ ability to cope with the uncertainties of global climate change. In light of the 2008 food crisis, to secure reliable future access to sufficient agricultural land, many nations and corporations have begun purchasing large tracts of land in the global South, a phenomenon deemed “land grabbing” by popular media. Because land investors frequently export crops without providing adequate employment, this represents an effective income loss for local communities. We study 28 countries targeted by large-scale land acquisitions [comprising 87 % of reported cases and 27 million hectares (ha)] and estimate the effects of such investments on local communities’ incomes. We find that this phenomenon can potentially affect the incomes of ~12 million people globally with implications for food security, poverty levels and urbanization. While it is important to note that our study incorporates a number of assumptions and limitations, it provides a much needed initial quantification of the economic impacts of large-scale land acquisitions on rural livelihoods.     

生态村发展及其生态整体设计

生态村（Ecovillage）作为一种新兴的可持续社区模式在20世纪末期在欧美发达国家蓬勃兴起。介绍了生态村的产生背景、概念和发展特征,在相关研究的基础上,基于以社区精神为核心的社会、经济、环境整体可持续性关系,提出了生态村的“生态整体设计”体系。     

Temporary Workers in Italy: Who Are They and Where They End Up

Abstract. Temporary work has been an important component of employment growth in Italy since the early 1990s. This paper focus upon labour market transitions of temporary workers in order to test whether temporary work enhances the subsequent labour market chances. We use propensity score matching to compare subsequent employment outcomes of people who have recently acquired a temporary job with those of people who remained unemployed. Individuals' hetero geneity explains a good amount of the raw differences in the subsequent labour market status of temporary workers and the comparison group. Yet there appears to be a sizable net gain from experiencing a temporary work. Our benchmark average estimate is a 30 percentage points rise in the ‘satisfactory employment’ chances 1 year after the start of the temporary work experience. The net gains are the largest for females and adult people and the areas with low unemployment; moreover, gains are the largest for the most recent years in our sample and for those people who were (according to the propensity score estimates) either least or most likely to exit from unemployment.     

Homocysteine, menopause and cardiovascular disease

A high plasma concentration of total homocysteine (tHcy) and a deficiency of vitamins related to its metabolism, such as vitamin B12 and folate, have been associated with cardiovascular disease. Postmenopausal women have higher concentrations than age-matched premenopausal women, and plasma concentrations of homocysteine in postmenopausal women taking hormone replacement therapy are significantly lower than they are in those who do not take estrogen supplements. Because of the possible mixed effects of HRT on cardiovascular events, surrogate end-points must be evaluated with caution. While measuring homocysteine levels is relatively simple, evidence from well designed trials is awaited before population screening can be advocated. Also, the benefits of reducing homocysteine levels with folic acid and vitamin B6 and B12 supplements are highly debated.     

Vanishing financial contagion?

While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with financial markets now better discriminating between emerging countries with good and bad fundamentals. Available data suggest that the main channels that contribute to transmitting financial crises across countries are – if anything – even stronger today than in the 1990s. Moreover, anticipation by international investors may help to explain the near-absence of contagion in the context of the Argentine crisis. This paper argues that a prudent working assumption is that financial contagion has not vanished.     

Examining the Incidence and Clients’ Experiences of Single Session Therapy in Italy: A Feasibility Study

Single session therapy (SST) postulates that one session can be sufficient for a client to take charge of the process and work toward their own solutions. Research has been conducted worldwide corroborating SST assumptions with several mental health conditions, but not in Italy. For the first time in Italy, this paper aims to explore: (1) if the most frequent number of sessions in traditional psychotherapy (not SST) is one (Study 1); and (2) the satisfaction of clients who attend SST services and the number who consider one session sufficient to address their presenting problem (Study 2). In Study 1, the records of 476 voluntary clients referred to three different traditional (not SST) psychological services in the west-central region of Latium, Italy, were retrospectively screened, and the number of sessions attended by each client recorded. In Study 2, 85 consecutive clients who voluntarily asked for SST with seven mental health professionals across Italy received a link to an online ad hoc survey, 1–3 weeks after the consultation, evaluating their experience. Study 1 found that the most frequent number of traditional psychotherapeutic (not intentionally SST) sessions was one (124 out of 476 clients (26%). Study 2 found that 44 out of 85 clients (52%) considered one session to be enough, as they felt better or much better and chose not to attend further sessions. Of those who asked for a second session (41 clients), 33 clients (80.5%) indicated that the first session was not enough and 8 clients (19.5%) wanted to address a new problem. These results converge with previous international studies and provide encouragement for the use of SST in both private and public psychological services to address the demand for timely mental health services in Italy. Further research is needed to support the efficacy of SST and to evaluate its cost-effectiveness.     

Doing Sociology in the Age of ‘Evidence-Based Research’: Scientific Epistemology versus Political Dominance

Social science history from its beginnings has witnessed periods of confrontation between – generally speaking – qualitative and quantitative paradigms, even talking of ‘war’, ‘wrestlers’ and ‘warriors’. And, again from the very beginnings, our discipline has been forced to relate with funding agencies. Sometimes, the two paths – the scientific one and the financial one – cross: we may think at the role of the private foundations in financing a certain type of investigation, notably surveys against case studies or qualitative research. Nowadays, we see an increased attention by federal agencies and private foundations on a particular sector of research, randomized controlled trials (RCTs), focusing on techniques seen intrinsically superior from the methodological and epistemological point of view. This article will analyze the recent increase of the randomized controlled trials as the new “gold standard” for social research; the call for the “experimenting society” (Campbell American Psychologist, 24(4), 409–429, 1969), willing to import the randomized controlled trials approach into the field of social policy and planning, is not new, if we think that yet in 1963 Campbell and Stanley wrote that “a wave of enthusiasm for experimentation dominated the field of education in the Thorndike era, perhaps reaching its apex in the 1920s” (Campbell and Stanley 1963/1966: 2). Many problems of validity with RCTs soon came to be recognized – even by Campbell, who stated that he has “held off advocating an experimenting society until they can be solved” (Campbell Evaluation Practice, 15(3), 291–298, 1994: 294). In the following years a different set of evaluation strategies were developed, but today there’s a new effort to re-introduce the experimental approach in the academic arena. What is the difference? As we will see, the scientifically-based research is now established and codified by law, funding is linked to a particular way of doing research, and the consequences on scientists work are yet to be explored.