Going concern modifications and related disclosures in the Italian stock market: do regulatory improvements help investors in capturing financial distress?

Journal of Management and Governance - This paper investigates the investor reaction to audit reports containing a going concern modification (GCM) in the Italian market following new amendments...     

Ranking Nuclear and Radiological Terrorism Scenarios: The Italian Case

A quantitative criterion for ranking the different scenarios of nuclear and radiological terrorism has been developed. The aim of the model is not to predict terroristic events but only to indicate which scenario has the higher utility from the point of view of a terroristic organization in terms of balance between factors favoring and discouraging the attack, respectively. All these factors were quantified according to a scoring system that takes into account the logarithmic relationship between perceptions and stimuli. The criterion was applied to several scenarios, each of which was modeled in a simple but not trivial way in order to estimate the expected damage in terms of probable life losses from both radiative and nonradiative effects. The outcome from the ranking method indicates that the attractive scenario appears to be the detonation of a low yield improvised nuclear device in the metropolitan area of a major city.     

Can Corruption Erode Confidence in Political Institutions Among European Countries? Comparing the Effects of Different Measures of Perceived Corruption

The purpose of this study is to analyze the effects of corruption on institutional confidence through testing alternative perceptions-based indexes of corruption. Scholars who have investigated this topic have often employed only indicators of corruption based on experts’ surveys. In this article we also consider a new index of corruption developed aggregating citizens’ perceptions. The first part of the paper explores the levels of corruption perceived by the citizens of EU member states, stressing the differences with the experts’ opinions. The second part tests, through a multivariate analysis, the impact of citizens’ and experts’ perceptions-based indexes of corruption on institutional confidence. The main results show that experts and citizens tend to express similar opinions on the extent of corruption in EU member states though, especially in some countries, these actors present some noticeable differences. Nevertheless, irrespective of the indexes used, more corrupt countries are characterized by lower levels of confidence in parliament and government. This relationship holds even controlling for the presence of reverse causality between corruption and confidence.     

Physical exercise,nutrition and hormones: three pillars to fight sarcopenia

Background: Sarcopenia is a pathophysiological condition diffused in elderly people; it represents a social issue due to the longer life expectancy and the growing aging population. It affects negatively quality of life and it represents a risk factor for other pathologies, such as diabetes, cardiovascular disease, and obesity. No silver bullet exists to hinder sarcopenia, but it may be counteracted by physical exercise, nutrition, and a proper endocrine milieu. Indeed, we aim to analyze the scientific literature to give to clinician effective advices to counteract sarcopenia.

Main text: Physical exercise, proper nutrition, optimized hormonal homeostasis represent the three pillars to fight sarcopenia. Physical exercise represents the most effective remedy to face sarcopenia, in particular if it is combined with a proper diet and with an adequate endocrine milieu. Consistency in training, adequate daily protein intake and eugonadism seems to be the keys to fight sarcopenia. The combination of these three pillars might act synergistically.

Conclusions: Optimization of these factors may increase their efficiency; however, scientific data may be sometimes confusing so far. Therefore, we aim to give practical advices to clinician to identify and to highlight the most important aspects in each of these three factors that should be addressed.     

SPECULATIVE PROFITS,INNOVATION, AND GROWTH

When technological change affects the prices of tradeable assets, innovators can obtain speculative profits by exploiting their inside information as to the occurrence of innovations. We propose a tractable model of endogenous growth that formalizes this argument, originally due to Hirshleifer (1971). We then use the model to assess two claims advanced by Hirshleifer, namely, that speculative profits can generate excessive investment in R&D when they add to monopoly rents guaranteed by patent protection, or else even in a perfectly competitive economy. The analysis confirms the first claim, but casts doubts on the second one. (JEL O30, O40)     

Fads and Fashions in Management Practices: Taking Stock and Looking Forward

Established management practices – such as Six Sigma or business process re‐engineering, as well as more recent practices such as agile management processes, HR analytics and beyond budgeting – are viewed by practitioners as the basic tools of their trade. Yet they have been known to wax and wane in popularity, often quite unpredictably, with one technique following the other in wave‐like fashion. The scholarly observation of this phenomenon has given rise to the literature on fads and fashions in management studies, which – building on earlier work in allied disciplines – has sought to explain the transience, persistence, and overall trajectory of management practices. In this paper, we review and integrate the existing literature on management fads and fashions, taking stock of the sizable body of work that has accumulated over the past three decades and which has, to our knowledge, never been reviewed comprehensively before. At the same time, we also note that technological change – with the advent of social media and the ubiquity of Internet connectivity, for example – has radically transformed how practitioners seek, consume, and engage with new practices, as well as the way in which such practices are broadcast and diffuse. In our review, therefore, we try to make this well‐established body of literature current by explicitly discussing how well its central tenets and theoretical arguments have stood the test of time, and propose useful directions for moving forward.     

A constitutional theory of the family

The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies the circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The behavioural and policy implications are illustrated by showing the effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or not, but contrast sharply with those of more conventional models.

Analysis of the spread of Rhynchophorus ferrugineus in an urban area,using GIS techniques: a study case in Central Italy

Urban Ecosystems - The spread of the red palm weevil is now a very severe problem on a global scale. In this paper, we investigate its spread during the 2007–2013 period in a coastal urban...