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Behavioural additionality and organizational impact of European policies to promote internationalisation of high-growth innovative SMEs
No full textMany European countries and international financial institutions have tried to address the problems of high transaction costs and risks by creating subsidized
credit programmes and/or providing loan guarantees. Such projects have often fostered a culture of non-repayment or failed to reach the target group or achieve financial self-sustainability. Further, it tries to understand what are the main barriers for high-growth innovative Small and Medium–sized Enterprises, with respect to the realisation of their innovative potential and their capacity to improve internal processes by the adoption of innovative manufacturing techniques and a graduated organizational change. They are becoming particularly important for achieving greater productivity, lower operational costs, and higher revenues (usually characterized by reduced access to external finance, unavailability of wider distribution channels, low internationalization, etc.). The purpose of this article at last is to clarify how on-line training on automation and innovation fields can bring economic and organizational benefits. Innovative training contents can improve manufacturing knowledge of managers and employees, especially on industrial automation systems.Many European countries and international financial institutions have tried to address the problems of high transaction costs and risks by creating subsidized
credit programmes and/or providing loan guarantees. Such projects have often fostered a culture of non-repayment or failed to reach the target group or achieve financial self-sustainability. Further, it tries to understand what are the main barriers for high-growth innovative Small and Medium–sized Enterprises, with respect to the realisation of their innovative potential and their capacity to improve internal processes by the adoption of innovative manufacturing techniques and a graduated organizational change. They are becoming particularly important for achieving greater productivity, lower operational costs, and higher revenues (usually characterized by reduced access to external finance, unavailability of wider distribution channels, low internationalization, etc.). The purpose of this article at last is to clarify how on-line training on automation and innovation fields can bring economic and organizational benefits. Innovative training contents can improve manufacturing knowledge of managers and employees, especially on industrial automation systems.Articles published in or submitted to a Journal without IF refereed / of international relevanceArticles published in or submitted to a Journal with I
La clausola antielusiva generale in materia tributaria: modelli a confronto e prospettive di convergenza
No full textAmmissibilità e presupposto della clausola antielusiva generale nel diritto tributario. Il modello di clausola antielusiva adottato dal Legislatore nazionale. L’abuso del diritto e la crisi del modello di clausola antielusiva
adottato dal Legislatore nazionale. I modelli di clausola antielusiva generale adottati dai principali ordinamenti stranieri. Prospettive di convergenza: alcuni spunti de iure condendo.Ammissibilità e presupposto della clausola antielusiva generale nel diritto tributario. Il modello di clausola antielusiva adottato dal Legislatore nazionale. L’abuso del diritto e la crisi del modello di clausola antielusiva
adottato dal Legislatore nazionale. I modelli di clausola antielusiva generale adottati dai principali ordinamenti stranieri. Prospettive di convergenza: alcuni spunti de iure condendo.LUISS PhD Thesi
The role of law, the rule of law and the rise of sovereign wealth funds: the need for a greater external and internal activism of the European Union
No full textFrom the point of view of international economic law and global governance studies, the principle of the rule of law should apply to all subjects who enter or aim to access the global market. Amongst them, a crucial role is nowadays played by the so-called ‘sovereign investors’, namely SWFs and SOEs.
This paper, which is based on the assumption that sovereign investment has become a major – albeit controversial – element in emerging patterns of governance in this century, deals more specifically with SWFs.
In order to put the rule of law ‘in action’ and take it ‘seriously’ with respect to SWFs, the paper focuses on the main concerns and benefits related to the rise of SWFs. In this respect, the main argument implied therein is that the quest for a fair balance between economic benefits deriving from the entry of SWFs in the EU market and the protection of national as well as European strategic/sensitive sectors must be pursued at the EU level and that, in doing so, the EU must be more activist and bolder.
The EU should give law a central role, regarding the market as an inherently political, institutional and social construct, rather than a self-referential locus that depends on its internal laws and dynamics. This seems even more urgent when market actors that, at least on paper, should be politically unbiased market-oriented investors, tend to act also as the long arm of State capitalism, that is, of foreign governments wishing to invest abroad in crucial socio-economic sectors and often connected with countries where the rule of law, in its multiple dimensions, is neither promoted nor respected.From the point of view of international economic law and global governance studies, the principle of the rule of law should apply to all subjects who enter or aim to access the global market. Amongst them, a crucial role is nowadays played by the so-called ‘sovereign investors’, namely SWFs and SOEs.
This paper, which is based on the assumption that sovereign investment has become a major – albeit controversial – element in emerging patterns of governance in this century, deals more specifically with SWFs.
In order to put the rule of law ‘in action’ and take it ‘seriously’ with respect to SWFs, the paper focuses on the main concerns and benefits related to the rise of SWFs. In this respect, the main argument implied therein is that the quest for a fair balance between economic benefits deriving from the entry of SWFs in the EU market and the protection of national as well as European strategic/sensitive sectors must be pursued at the EU level and that, in doing so, the EU must be more activist and bolder.
The EU should give law a central role, regarding the market as an inherently political, institutional and social construct, rather than a self-referential locus that depends on its internal laws and dynamics. This seems even more urgent when market actors that, at least on paper, should be politically unbiased market-oriented investors, tend to act also as the long arm of State capitalism, that is, of foreign governments wishing to invest abroad in crucial socio-economic sectors and often connected with countries where the rule of law, in its multiple dimensions, is neither promoted nor respected.Refereed Working Papers / of international relevanc
The CJEU vis-à-vis EU and non-EU investors, between national and european solidarity: golden shares, sovereign investment and socio-economic protectionism under free movement rules
No full textThe fundamental issue underlying this essay is the tension between the EU’s aims of market integration on the one hand, and, on the other, the intervention of Member States in the economy and welfare provision and the exercise of public functions by national authorities in sensitive industrial sectors. In this respect I have focused on one specific aspect: the CJEU’s case law on the special powers held by the State in formerly public companies where the rights conferred on shareholders by ordinary law are reduced for the benefit of public entities.
Besides European golden shares, my contribution had dealt with the access to the EU’s market of non-EU public/private hybrids, namely sovereign investors such as sovereign wealth funds (“SWFs”) and state owned enterprises (“SOEs”).
The first aim of my research is to investigate in what sense, to what extent and for what reasons the golden shares jurisprudence represents a privileged – although atypical – sedes materiae to illustrate the content and extent of EU economic/market integration, the connection between the latter and the two interrelated concepts of social integration and EU solidarity, and the impact of such dual integration (both economic and social) on Member States’ solidarity. In this regard, three main questions arise: has the CJEU been too activist in condemning Member States with regard to privat(is)e(d) undertakings, or is its approach justified in the light of the EU’s free market objectives? Is the up-to-date case law likely to endanger the solidarity on which the provision of SGEIs is grounded? Is the scope of manoeuvre currently accorded to Member States too narrow to justify national socio-economic policies on golden shares under the free movement rules (especially, as will be seen further on, from the point of view of the exceptions to these rules)?.
My second general aim is to identify the main concerns raised by the access of SWFs and SOEs to the EU market and, then, to assess whether action by the EU is welcome and necessary in this area. In this respect, the main questions are: is it conceivable a European golden share to restrict this kind of investments to be shaped on the basis of a European notion of solidarity? Should the CJEU be proactive and, for instance, admit ‘new’ Cassis-Gebhard overriding reasons of general interest that could not be admitted vis-à-vis intra-EU investments? Could the derogation provided for in Art. 65.1 b) allow for a restriction that is compatible with EU law? And in that case, what kind of connection would there be between national and European solidarity?The fundamental issue underlying this essay is the tension between the EU’s aims of market integration on the one hand, and, on the other, the intervention of Member States in the economy and welfare provision and the exercise of public functions by national authorities in sensitive industrial sectors. In this respect I have focused on one specific aspect: the CJEU’s case law on the special powers held by the State in formerly public companies where the rights conferred on shareholders by ordinary law are reduced for the benefit of public entities.
Besides European golden shares, my contribution had dealt with the access to the EU’s market of non-EU public/private hybrids, namely sovereign investors such as sovereign wealth funds (“SWFs”) and state owned enterprises (“SOEs”).
The first aim of my research is to investigate in what sense, to what extent and for what reasons the golden shares jurisprudence represents a privileged – although atypical – sedes materiae to illustrate the content and extent of EU economic/market integration, the connection between the latter and the two interrelated concepts of social integration and EU solidarity, and the impact of such dual integration (both economic and social) on Member States’ solidarity. In this regard, three main questions arise: has the CJEU been too activist in condemning Member States with regard to privat(is)e(d) undertakings, or is its approach justified in the light of the EU’s free market objectives? Is the up-to-date case law likely to endanger the solidarity on which the provision of SGEIs is grounded? Is the scope of manoeuvre currently accorded to Member States too narrow to justify national socio-economic policies on golden shares under the free movement rules (especially, as will be seen further on, from the point of view of the exceptions to these rules)?.
My second general aim is to identify the main concerns raised by the access of SWFs and SOEs to the EU market and, then, to assess whether action by the EU is welcome and necessary in this area. In this respect, the main questions are: is it conceivable a European golden share to restrict this kind of investments to be shaped on the basis of a European notion of solidarity? Should the CJEU be proactive and, for instance, admit ‘new’ Cassis-Gebhard overriding reasons of general interest that could not be admitted vis-à-vis intra-EU investments? Could the derogation provided for in Art. 65.1 b) allow for a restriction that is compatible with EU law? And in that case, what kind of connection would there be between national and European solidarity?Refereed Working Papers / of international relevanc
An investigation of the role of dependency in predicting continuance intention to use ubiquitous media systems: combining a media system perspective with expectation-confirmation theories
No full textThe mobile telecommunications landscape has evolved into a highly competitive and complex ecosystem composed of network operators, mobile device manufacturers as well as software, content and service providers. This major shift has strongly impacted the fundamental nature of mobile devices which have now become complex multi-purpose, multi-context ubiquitous media systems. Such change has engendered an urgent need to revisit our understanding of mobile device usage through the lens of theories that encompass the multifaceted nature of ubiquitous systems. Relying on a media perspective, the paper investigates the role of individual media dependency in predicting continuance intention to use ubiquitous media systems. Data collected from 150 smartphone users were used to test the developed conceptual model. The results confirmed the overall effect of ubiquitous media systems dependency on individuals’ reasoned continuance usage decision. The findings suggest that the level of dependency towards a ubiquitous media system inflates the perceived positive attributes about the system: perceived usefulness and perceived ease of use, as well as the cognitive appraisal about the discrepancies between initial expectations and post-use performance. Theoretical and practical implications developed from these findings are then discussed.The mobile telecommunications landscape has evolved into a highly competitive and complex ecosystem composed of network operators, mobile device manufacturers as well as software, content and service providers. This major shift has strongly impacted the fundamental nature of mobile devices which have now become complex multi-purpose, multi-context ubiquitous media systems. Such change has engendered an urgent need to revisit our understanding of mobile device usage through the lens of theories that encompass the multifaceted nature of ubiquitous systems. Relying on a media perspective, the paper investigates the role of individual media dependency in predicting continuance intention to use ubiquitous media systems. Data collected from 150 smartphone users were used to test the developed conceptual model. The results confirmed the overall effect of ubiquitous media systems dependency on individuals’ reasoned continuance usage decision. The findings suggest that the level of dependency towards a ubiquitous media system inflates the perceived positive attributes about the system: perceived usefulness and perceived ease of use, as well as the cognitive appraisal about the discrepancies between initial expectations and post-use performance. Theoretical and practical implications developed from these findings are then discussed.Uninvited Submission
Heterogeneity, commonality and interdependence in the euro area: size and dynamics of fiscal spillover effects in macroeconomic-financial linkages
No full textThe paper develops empirical measures to estimate the strength and dymanic of fiscal
spillover effects in the Euro Area. It moves for estimating a Bayesian VAR model of real
and financial variables in order to examine in depth economic policy coordination and policy
making, with a strong attention on the current financial crisis. Spillovers are estimated
recursively with weakly-exogenous common factors. The aim of the project accounts for interdependencies
across countries within the Euro Area and derives impulse response functions
and conditional forecasts with the output of an Monte Carlo Marco Chain (MCMC) routine.
However, the paper attempts to estimate the systemic contribution and cross-country
transmission of unexpected shocks on the productivity in the EA between June 1995 and
March 2014. Overall, the positive impact on outputs in the financial dimension indicates the
importance of coordinated fiscal actions in the EA. Shocks overflow in a heterogeneous way
across countries. Moreover, financial variables show higher amplification of spillover effects
which can be seen as a result of increased interdependence between variables. Finally, the
analysis is consistent and robust with the more recent literature on business cycles, which recognizes
the importance of both group-specific and global factors in evaluating cross-country
spillovers and responses to an unexpected shocks.The paper develops empirical measures to estimate the strength and dymanic of fiscal
spillover effects in the Euro Area. It moves for estimating a Bayesian VAR model of real
and financial variables in order to examine in depth economic policy coordination and policy
making, with a strong attention on the current financial crisis. Spillovers are estimated
recursively with weakly-exogenous common factors. The aim of the project accounts for interdependencies
across countries within the Euro Area and derives impulse response functions
and conditional forecasts with the output of an Monte Carlo Marco Chain (MCMC) routine.
However, the paper attempts to estimate the systemic contribution and cross-country
transmission of unexpected shocks on the productivity in the EA between June 1995 and
March 2014. Overall, the positive impact on outputs in the financial dimension indicates the
importance of coordinated fiscal actions in the EA. Shocks overflow in a heterogeneous way
across countries. Moreover, financial variables show higher amplification of spillover effects
which can be seen as a result of increased interdependence between variables. Finally, the
analysis is consistent and robust with the more recent literature on business cycles, which recognizes
the importance of both group-specific and global factors in evaluating cross-country
spillovers and responses to an unexpected shocks.LUISS PhD Thesi
Ideational Divergences between European Union and China: Cases of International Interventions
No full textThe dissertation attempts to explain the EU and China’s interventions or non-interventions in humanitarian crises. The research is motivated by the high-profile debate on humanitarian intervention in international fora, and the concepts of normative power and norms contestation. The main research question here is to what extent their professed principles and norms, for instance, Responsibility to Protect vis-à-vis Non-Interference in domestic affairs, have affected the policy-makings of the EU and China. After the reviews of the two international actors’ positions, principles, and policy-making processes on crisis intervention, the dissertation traces two empirical cases, the Darfur and Libyan crises. The research findings reveal that the ideational factors have permissive, regulative, and incentive effects on the EU and China’s policy-makings on crisis intervention. In return, the empirical study provides new reflections on the normative powers, as well as the EU and China’s global roles.The dissertation attempts to explain the EU and China’s interventions or non-interventions in humanitarian crises. The research is motivated by the high-profile debate on humanitarian intervention in international fora, and the concepts of normative power and norms contestation. The main research question here is to what extent their professed principles and norms, for instance, Responsibility to Protect vis-à-vis Non-Interference in domestic affairs, have affected the policy-makings of the EU and China. After the reviews of the two international actors’ positions, principles, and policy-making processes on crisis intervention, the dissertation traces two empirical cases, the Darfur and Libyan crises. The research findings reveal that the ideational factors have permissive, regulative, and incentive effects on the EU and China’s policy-makings on crisis intervention. In return, the empirical study provides new reflections on the normative powers, as well as the EU and China’s global roles.LUISS PhD Thesi
Gli strumenti di composizione delle controversie in materia di transfer pricing: problematiche applicative e prospettive evolutive
No full textIl transfer pricing all’interno dei gruppi multinazionali. L’incidenza della disciplina del transfer price sulla doppia imposizione internazionale. Ruling internazionale. Mutual Agreement Procedure (MAP). Convenzione Arbitrale 90/436/CEE del 23 luglio 1990. Prospettive evolutive.Il transfer pricing all’interno dei gruppi multinazionali. L’incidenza della disciplina del transfer price sulla doppia imposizione internazionale. Ruling internazionale. Mutual Agreement Procedure (MAP). Convenzione Arbitrale 90/436/CEE del 23 luglio 1990. Prospettive evolutive.LUISS PhD Thesi
Cessazione del contratto, cessione del credito e circolazione della clausola compromissioria
No full textLa clausola compromissoria. La successione nel rapporto compromissorio. La circolazione della clausola compromissoria nella cessione del contratto. La circolazione della clausola compromissoria nella cessazione del credito.La clausola compromissoria. La successione nel rapporto compromissorio. La circolazione della clausola compromissoria nella cessione del contratto. La circolazione della clausola compromissoria nella cessazione del credito.LUISS PhD Thesi
Il ruolo del segretario comunale e i controlli interni nelle autonomie locali
No full textLa funzione di controllo nella figura storica del segretario comunale e provinciale. I controlli interni nel Testo Unico degli enti locali: l'approccio tipologico. Le diverse funzioni dei controlli interni nel D.L. n. 174, conv. in Legge n. 213/12: analisi teleologica. L'organizzazione del "sistema" dei controlli. Il ruolo del segretario comunale in relazione alle diverse funzioni di controllo. Considerazioni complessive sul ruolo del segretario comunale rispetto al sistema dei "nuovi" controlli interni.La funzione di controllo nella figura storica del segretario comunale e provinciale. I controlli interni nel Testo Unico degli enti locali: l'approccio tipologico. Le diverse funzioni dei controlli interni nel D.L. n. 174, conv. in Legge n. 213/12: analisi teleologica. L'organizzazione del "sistema" dei controlli. Il ruolo del segretario comunale in relazione alle diverse funzioni di controllo. Considerazioni complessive sul ruolo del segretario comunale rispetto al sistema dei "nuovi" controlli interni.LUISS PhD Thesi