EGARCH Model with Weighted Liquidity

We analyze a variant of the EGARCH model which captures the variation of the intra-day price. We study the asymptotic behavior of the estimators for the parameters of the model. We also illustrate our theoretical results by empirical studies.     

Beyond Employment Rate: A Multidimensional Indicator of Higher Education Effectiveness

This paper proposes a multidimensional indicator of higher education effectiveness that aims at going beyond the limits of measuring university effectiveness merely through employment rates. The units of analysis are the study programmes. Eleven indicators related to external effectiveness are selected, and their reliability for and relevance to the representation of the concept of effectiveness are empirically evaluated. The data are drawn from a longitudinal survey administered to graduates of the University of Padua, Italy, from 2008 to 2011. From our analyses, effectiveness appears to be a multidimensional concept composed by professional empowerment, employability and personal fulfilment. The right time for collecting relevant data on educational outcomes varies according to the types of indicators: indicators of professional empowerment assessed 1 year after graduation are most suitable, while for personal fulfilment measurement both short- and long-term evaluation are relevant, and, for employability, data collected 3 years after graduation cannot discriminate among study programmes.     

The impact of organisational alignment on the effectiveness of firms’ sustainability strategic performance measurement systems: an empirical analysis

Sustainability is becoming a mainstream issue for many organisations. A limited number of studies exist, however, on integrating sustainability into daily practices. Indeed, most of the research to date addresses only the definition and motivation for companies’ interest in environmental and social concerns. This paper contributes to the research on integrating sustainability into companies’ daily activities both directly and indirectly. It analyses the extent to which top management’s commitment to sustainability directly affects structural and social alignment and the effectiveness of measurement systems that monitor sustainability strategic performance and indirectly impacts firms’ social and environmental performance. Based on a quantitative analysis of survey responses from 405 large European companies, this paper documents the limited impact of social alignment to firms’ social and environmental performance. More specifically, the results challenge the diffuse belief that the alignment and commitment of middle managers to sustainability strategies as defined by the upper echelons have a relevant impact on the company’s social and environmental performance.     

Doctors for the empire: The medical school of Goa and its narratives

This paper studies the establishment of medical teaching in Portuguese colonial settings as a means to understand the ways of empire building. The rules and regulations regarding surgeons and doctors in the African and Asian colonies evidence a structure of subalternities within the empire. Goa, in India, emerges as the second to the metropolis within that hierarchy, and the Medical School of Goa becomes the ultimate producer of doctors for the empire. We will bring to the analysis the narratives and representations of Goan doctors about their Medical School and its role in empire building. The analysis raises a number of issues that deserve further discussion: the ideologies of colonialism and the colonial condition, the formation of hierarchies within imperial structures, the tensions between social groups defined by the empire, the interaction between different bodies of knowledge and medical practices in the context of colonization, and the ambiguous position of creóle elites within a colonial system.     

Costs and Economies of Scale at Not-for-Profit Organizations: The Case of the Santa Casa da Misericórdia de Barcelos Between 2002 and 2013

In this work, we intend to evaluate the triangular sustainability of not-for-profit organizations, putting a special emphasis on the study of economies of scale. After a collection of raw data from the historical archives of the institution (a ‘Santa Casa da Misericordia de Barcelos’), we constructed a panel database. Using this database, we estimated cobb-douglas costs functions, by applying fixed and random effects. We found that Portuguese institutions as the one here studied (belonging to the Portuguese Social Economy and as a representative of the Holy Houses of Mercy) exhibit economies of scale, which ask for a renewed perspective of the sector by the regulating entities.     

Notes towards a ‘social aesthetic’: Guest editors' introduction to the special section

There is an emerging ‘aesthetic turn’ within sociology which currently lacks clear focus. This paper reviews the different issues feeding into this interest and contributes to its development. Previous renderings of this relationship have set the aesthetic up against sociology, as an emphasis which ‘troubles’ conventional understandings of sociality and offers no ready way of reconciling the aesthetic with the social. Reflecting on the contributions of recent social theorists, from figures including Bourdieu, Born, Rancière, Deleuze, and Martin, we argue instead for the value of a social aesthetic which critiques instrumentalist and reductive understandings of the social itself. In explicating what form this might take, the latter parts of the paper take issue with classical modernist conceptions of the aesthetic which continue to dominate popular and sociological understandings of the aesthetic, and uses the motif of ‘walking’ to show how the aesthetic can be rendered in terms of ‘the mundane search’ and how this search spans everyday experience and cultural re‐production. We offer a provisional definition of social aesthetics as the embedded and embodied process of meaning making which, by acknowledging the physical/corporeal boundaries and qualities of the inhabited world, also allows imagination to travel across other spaces and times. It is hoped that this approach can be a useful platform for further inquiry.     

Migrants,Settlers and Colonists: The Biopolitics of Displaced Bodies

All through the nineteenth century, Madeirans migrated from their Atlantic island to places as remote as Hawaii, California, Guyana and, later, South Africa. Scarcity of land, a rigid social structure, periodic famines and rampant poverty made many embark to uncertain destinies and endure the harsh labour conditions of sugarcane plantations. In the 1880s, a few hundred Madeirans engaged in a different venture: an experience of “engineered migration” sponsored by the Portuguese government to colonize the southern Angola plateau. White settlements, together with military control, scientific surveys and expeditions, contributed to strengthen the claims of European nations over specific territories in Africa. At that time, the long lasting claims of Portugal over African territories were not matched by sponsored colonial settlements or precise geographic knowledge about the claimed lands. There was little else representing Portugal than the leftover structures of the slave trade, the penal colonies and the free‐lance merchants that ventured inland. In fear of losing land to the neighbouring German, Boer and British groups in south‐western Africa, the Portuguese government tried then to promote white settlements by attracting farmers from the mainland into the southern plateau of Angola. As very few responded to the call, the settlement consisted mostly of Madeiran islanders, who were eager to migrate anywhere and took the adventure of Angola as just another destiny out of the island where they could not make a living. Their bodies and actions in the new place became highly surveilled by the medical delegates in charge of assessing their adaptation. The reports document what were then the idealized biopolitics of migration and colonization, interweaving biomedical knowledge and political power over displaced bodies and colonized land. At the same time, those records document the frustrations of the administration about the difficulties of the settlement experience and the ways in which colonial delegates blamed their failure on the very subjects who enacted and suffered through it. The eugenicism and racialism that pervade those writings, a currency during the age of empire, may now be out of taste both in science and in politics; however, they are not fully out of sight, and the subtle entrance of social prejudice into the hard concepts of biomedical science is still with us. Learning from this example may help analysing contemporary processes of medicalizing diversity or pathologizing the mobile populations, or, in other words, the biopolitics of migration in the 21^st century.