BANKS,DEBT AND RISK: ASSESSING THE SPILLOVERS OF CORPORATE TAXES

We find evidence of tax-driven strategic allocation of debt and asset risk across group entities of European banks. We evaluate the effects that establishing tax neutrality between debt and equity finance has on systemic risk, and show that the degree of coordination in implementing the hypothetical tax reform matters. In particular, a coordinated elimination of the tax advantage of debt would significantly reduce systemic losses in the event of a severe banking crisis. By contrast, uncoordinated tax reforms are not equally beneficial precisely because national tax policies generate spillovers through cross-border bank activities. (JEL G21, G28, H25)     

Dealing with Migrants in the Central Mediterranean Route: A Legal Analysis of Recent Bilateral Agreements Between Italy and Libya

Dealing with the current flow of migrants flocking to the shores of southern European countries remains high on the international agenda. At the end of 2016, 276,957 migrants were waiting in Libya to cross the sea. Many of them were subject to human rights violations and abuses such as arbitrary detention, torture, unlawful killings, sexual exploitation and even slavery (IOM, 2017). The international response has been, so far, insufficient and new ideas and practices are urgently needed. After providing an overview of the legal framework and of the efforts carried out by the relevant international and regional organizations, this article focuses on recent treaties concluded between Italy and Libya, and argues that the new bilateral agreements represent an example of how States are responding to this challenge in an attempt to strike a balance between the need to strengthen the protection of migrants’ rights and the necessity to guarantee the security of national borders.     

Retrospective Paternal and Maternal Parenting Styles,Regulatory Self-Efficacy and Adolescent Risk Taking

This study aims to calculate a scaled risk-taking behavior index and to test a model in which maternal and paternal parenting styles affect risk-taking behavior with a mediation of adolescents’ regulatory self-efficacy. Participants were 816 adolescents (44% males) responding to a self-report questionnaire about their risk-taking behavior, regulatory self-efficacy, and retrospective memories of paternal and maternal parenting styles. Results suggested an item rating in the index showing that behaviors considered less risky referred to alcohol use and the unplanned first sexual intercourse, whereas behaviors considered more risky referred to the lack of use of contraceptives and the age of the first sexual intercourse. Results revealed a significant indirect effect of authoritative and authoritarian styles on risk-taking behavior. These styles shaped the adolescents’ regulatory self-efficacy, which in turn predicted adolescent risk-taking behavior. Results underline the complex interplay of relationships between parents and their children.     

David and Goliath: causes and effects of coopetition between start-ups and corporates

Coopetition (collaboration between competitors) among young firms (i.e. start-ups) and larger, more established firms (i.e. corporates) may be beneficial for both partners as each party typically has something to offer that is missing in the other. Start-ups often develop innovative ideas, are flexible and agile, willing to take risks, and aspire to achieve high growth, but they tend to lack the required resources, capabilities, and knowledge due to their newness and smallness. Corporates have resources, routines, and experience that enable them to work efficiently but lack a certain innovation capability. Research has suggested that coopetition represents an opportunity for start-ups facing restrictions in resources, while corporates benefit from start-ups’ innovative ideas. However, it is yet unknown whether start-ups and corporates engage in coopetition with each other and, if so, how and why they do this. This study seeks to fill this void by exploring the motives of coopeting start-ups and corporates, how they manage their coopetitive relationship, and what implications occur including potential benefits and risks. We present a multiple case study based on qualitative data collected through 70 interviews with Austrian-based start-ups and corporates representing 35 coopetitive partnerships. Discussing the findings based on our data, we propose relationships concerning coopetition and its role to enlarge resource- and technology-bases as well as its role in the development of dynamic capabilities.     

Youth emancipation and perceived job insecurity of parents and children

We test whether job insecurity of parents and children affect children’s moving-out decisions. Macroeconomic estimates for 13 European countries over 1983–2004 show that coresidence increases by 1.7 percentage points (PP) following a 10 PP rise in the share of youths perceiving their job to be insecure and declines by 1.1 PP following the same increment in insecurity for older workers. Microeconometric evidence for Italy in the mid-1990s shows that the probability of moving out increases by about half a percentage point for a one-standard-deviation increase in paternal insecurity and by one-third of a percentage point for a one-standard-deviation decrease in children’s insecurity.     

Medicalizing reproduction: the pill and home pregnancy tests

This article explores one chapter in the history of medicalization through a focused study of oral contraceptives and home pregnancy tests. Each commercially successful in developed nations and both decades old (the Food and Drug Administration approved oral contraceptives in 1960 and home pregnancy tests in 1977), these reproductive technologies created the first pharmaceutical mega-market comprised of young, healthy, sexually active, heterosexual women. Examining the discrete, but interconnected, histories of both products, this article explores how the Pill's popularity and profitability medicalized and feminized contraception, encouraging pharmaceutical companies to invest in the development of patented variants of hormonal contraception and creating a means by which the under-used Pap smear could be introduced to a population that had previously resisted it. Home pregnancy tests, too, had unintended consequences. Designed to shield the detection of a pregnancy from a "medical gaze," the test's widespread use encouraged women to become medical patients at an earlier stage of their pregnancy.     

Functional disability among chronic pain patients receiving long-term opioid treatment

This study of 2,163 adult chronic, non-cancer-pain, long-term opioid therapy patients examines the relationship of depression to functional disability by measuring average pain interference, activity limitation days, and employment status. Those with more depression symptoms compared to those with fewer were more likely to have worse disability on all 3 measures (average pain interference score >5, OR = 5.36, p < .0001; activity limitation days ≥ 30, OR = 4.05, p < .0001; unemployed due to health reasons, OR = 4.06, p < .0001). Depression might play a crucial role in the lives of these patients; identifying and treating depression symptoms in chronic pain patients should be a priority.