1,720,987 research outputs found
HIGH SENSIVITY APPARATUS FOR MEASURING LINEAR THERMAL EXPANSION:PRELIMINARY RESULTS ON THE RESPONSE OF MARBLES TO THERMAL CYCLES
No full textDo Impact Investments Contribute to Portfolio Performance? A Preliminary Investigation
Full text linkSocial Impact Investments (SII) intentionally generate social impact and financial return. Portfolio diversification is one of the under-investigated areas in SII literature. The aim of this paper is to fill this gap by conducting a preliminary investigation of social impact firms (SIF) contribution to portfolio risk and performance. For the purpose of this paper, we use a sample of SIF members of the London Social Stock Exchange who are publically listed and two contrast samples with traditional firms (non-SIF). To carry out the analysis, we employed methodology based on Markowitz (1952a, 1952b) and Sharpe (1963). The paper may provide useful insights for asset managers and investors involved in portfolio choice evaluation and policy makers interested in fostering development of the social impact market
Circular economy impact analysis on stock performances: an empirical comparison with the Euro Stoxx 50® ESG Index
Full text linkEnvironmental issues have a considerable impact in all economic sectors, also influencing financial markets. As a result, environmental, social, and governance (ESG) awareness is rising in the financial sector. In this perspective, the concept of circular economy (CE) assumes central relevance. The aim of our study is to investigate the relationship between CE strategies and market performance; to this end, we use ESG scores as a proxy for CE. Our initial assumption is that since CE is a component of the “E” factor—in that it can generate positive and measurable environmental impacts—then it can be associated with the ESG score. Therefore, we can methodologically overcome the lack of a specific score related to CE. We use a preselection model based on historical performance by verifying the percentages of the presence of stocks in the two selected indices, namely ESG Euro Stoxx 50® and Euro Stoxx 50-ESG. Overall, we find that ESG profiles have a positive impact on stock performance, although ESG scores do not express higher performance per se. Furthermore, our analysis shows that, to date, there is no evidence that CE initiatives can influence stock returns
Looking for an ESG-driven strategic approach. An explorative analysis in Italian insurance companies
No full textThe impact of climate change on insurance companies has become increasingly apparent, prompting a shift in their governance and investment strategies. With a growing recognition of Environmental, Social, and Governance (ESG) factors, insurers are reevaluating their risk management approaches. This paper explores the integration of ESG considerations in the strategic decision-making processes of Italian insurance companies, focusing particularly on mitigating greenwashing behaviors.
Despite the acknowledged importance of ESG factors in assessing financial risks, there remains a gap in the effective integration of sustainability into the operations and strategies of insurance firms. This study aims to address this gap by examining the dimensions of an ESG-driven strategic approach and its effectiveness in managing sustainability within the insurance sector.
Through a sequential exploratory research design, combining qualitative and quantitative methods, this study seeks to identify the drivers of ESG-driven strategies adopted by Italian insurers to combat greenwashing. Qualitative analysis will offer insights into corporate strategies, while quantitative analysis will establish correlations between these strategies and greenwashing behaviors.
The research question driving this study is: How does an ESG-driven strategic approach mitigate greenwashing behaviors in Italian insurance companies? By employing set theory methods such as fsQCA, the study aims to identify the most effective ESG-driven strategies for preventing greenwashing in the insurance industry.
The findings of this study are expected to contribute to the identification of ESG best practices within the Italian insurance sector, offering insights into how insurers can achieve sustainable goals while mitigating risks associated with climate change. Moreover, by developing adaptive capabilities to manage transition and physical risks, insurers can enhance their resilience to climate-related challenges, ultimately fostering sustainable development within the industry
Can the current state support mechanisms help the growth of renewable energies in wind markets?
Full text linkThe aim of this paper is to provide evidence on the effectiveness of the current state support mechanism incentive adopted by the Italian government in the wind market. In particular, this paper intends to investigate the effectiveness of the auction mechanism as an incentive tool for renewable sources as required by the transposition of Directive 2009/28/EC. In order to demonstrate the economic and financial feasibility of a typical wind-sector investment, we performed a scenario analysis (Monte Carlo simulation) determining a 52,500 Net Present Value (NPV) by varying the key underlying variables of the investment. The results show that with the mechanism currently in place the percentage of positive leveraged NPV is approximately equal to 70%. Despite the state contribution provided through the “Feed-in tariff” mechanism, the profitability of wind projects is not always successful, and this problem could be amplified by the slowness of the authorization procedures. The article offers prime reflections for scholars and policy makers who have long been committed to promoting sustainable development and important considerations on the introduction of further incentive models
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
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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