1,721,025 research outputs found
Imprese in cambiamento. Officina di Organizzazione: 20 Anni
No full textUna rassegna di casi aziendali in cui si evidenziano processi di cambiamento organizzativo in alcune tra le più importanti imprese italiane. I casi sono discussi attraverso il riferimento a concetti e teorie organizzative
Le trasformazioni organizzative di Poste Italiane
No full textHow do enterprises change? This volume tells the “stories” of the organizational transformations implemented in the first decade of the new millennium by five enterprises: Fiat Auto, Finmeccanica, Ciba Specialty Chemicals, Zurich, and Poste Italiane. Stories dealing with transformations of organizational configurations, changes in the policies of personnel management, implementation of mergers and acquisitions, reorganization of internal work processes, etc. These stories were collected during the workshops of the Research Program “L’Officina di Organizzazione”, in which managers and executives, protagonists of the organizational transformations, discuss about them with colleagues from other enterprises and university scholars. Each story is first told from “the inside", from the point of view of one or more of its protagonists, and then interpreted according to different theoretical perspectives
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
The macrodynamics of external overborrowing and systemic instability in a small open economy
No full textThe paper presents a monetary growth model for a small emerging economy with a currency board arrangement. The integration into global financial markets determines an acceleration of debt-creating capital inflows that boosts growth and the prospect of future profits, and leads to the building-up of large imbalances in the public and private sectors. Financial fragility undermines the state of confidence and determines an endogenous capital reversal. At this stage the strong commitment to maintain the peg leaves no room for stabilization purposes and leads to systemic instability. We run a continuous-time estimation of the non-linear differential equations system of the model, with reference to Argentina during the years of the currency-board arrangement. We find two steady-state solutions, corresponding to a high-interest rate and a low-interest rate equilibrium, respectively. The local stability and sensitivity analysis show that both equilibria are unstable and that the system is intrinsically fragile. We show that even a tighter fiscal policy, according to the prescriptions of international institutions, results ineffective in improving stability
Financial fragility and currency crisis: a macrodynamical revisitation of Argentina's experience, Working Paper n. 8, Economic Department, Sapienza Univerisity of Rome
No full textDoes bank consolidation lead to efficiency gains? Evidence from large commercial banks in Europe and US
No full textThis article aims at investigating the efficiency of European and US commercial banks. Scale and scope economies indicators, as well as a measurement of X-efficiency are derived from three cost functions: Fourier flexible form, translog and Box-Cox. This allows checking the stability and the robustness of the evidence across the different specifications. Our results over the period 1995-98 show that, overall, the largest banks do not seem to have higher efficiency scores. Therefore, further enlargement of the production size does not necessarily lead to production gains
The macrodynamics of financial fragility within a hard peg arrangement
No full textThe paper presents an open-economy macrodynamical growth model with the aim of giving an endogenous characterisation to the process that leads a small country with a currency-board arrangement to accumulate dangerously high levels of external debt and become vulnerable to macroeconomic instability. The macrodynamics of the model results from the combination of the commitment to maintain the peg â that makes liquidity closely dependent on the dynamics of foreign reserves â and the non-linear real and financial interactions that drives the pro-cyclical behaviour of the economy. Within this context, the external financing ease during an economic upswing leads to debt-supported growth and financial fragility; the consequent deterioration of profitability expectations brings about a capital reversal that, in the absence of monetary stabilisation tools, makes the currency arrangement unsustainable. A financial crisis may thus turn into a currency crisis.
We run a continuous-time estimation of a non-linear differential equations system for Argentina during the years of the currency-board arrangement. We find that two steady-state solutions exist. The local stability and sensitivity analysis show that both equilibria are unstable and that the qualitative nature of the equilibria depends in particular on lenders' responsiveness to the degree of leverage. We also show that relaxing the assumption on the currency arrangement and allowing for an autonomous monetary policy makes both equilibria stable
Financial Fragility and Currency Crisis: a Macrodynamical Revisitation of the Argentina’s Experience
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