Exploring the efficiency of Italian social cooperatives by descriptive and principal component analysis

Over the last decade, independent agencies, institutions and research centres (ISTAT—National Statistic Office, Ministry of Economic Development, Confcooperative Legacoop, Unioncamere) have provided studies on the evolution of the cooperative movement in the Third Sector in Italy in order to monitor the development of these organizations over time and to evaluate their economic and employment impact in the country. Following a similar path, this study analyzes the contribution of social cooperatives in Italy at a regional level, highlighting the differences related to their longevity and fields of activity. Moreover, the article evaluates the efficiency and profitability of the social cooperative by adopting principal component analysis to economic and financial indexes.     

Stakeholder Orientation and Acquisition Performance

Research summary : In this article, we study how a firm's stakeholder orientation affects the performance of its corporate acquisitions. We depart from prior literature and suggest that orientations toward employees, customers, suppliers, and local communities will affect long‐term acquisition performance both directly and through its interactions with process characteristics, such as preacquisition relatedness and postacquisition integration. Analyses of data on a sample of 1884 acquisitions show overall a positive association between acquirers' stakeholder orientation and acquisition performance. In addition, we find support for a positive moderation of business relatedness on the performance impacts of stakeholder orientation. Structural integration has a similarly positive moderation effect only for some of the stakeholder categories. Managerial summary : Does collaboration with stakeholders during an acquisition pay off in terms of performance? The results of this research show that it is worth engaging stakeholders during the M&A process, but that the efficacy of involvement practices may depend on the type of stakeholders and the characteristics of the acquisition. While acquiring firms that take account of suppliers and local communities consistently overperform in their acquisitions, the inclusion of employees might be not beneficial (and even harmful) when the target firm operates in a dissimilar business or when managers do not plan to maintain it as a separate entity. Copyright © 2017 John Wiley & Sons, Ltd.     

Is Dry Aging for Pork Relevant to Consumers?

Introducing a new product is tricky because of potential problems with consumer acceptance. Dry aging is a technique that could make meat more tender, but at the expense of the color that would become darker. This technique is widely used for beef, but it could be useful in the pork industry since the increasing offer of lean meat has reduced its natural tenderness. We investigate Italian consumer preferences for dry aging applied to pork loin and the effect of information on consumer acceptance. A sample of 264 consumers was surveyed in June 2014 in Bologna, Italy, using a hypothetical rank-based conjoint analysis. Data were analyzed using a rank-ordered logit (ROL) approach. Results suggest that consumers preferred dry-aged pork loin to fresh pork loin. They also preferred products labeled with Italian origin and having low fat content. Factors affecting the intention to purchase dry-aged pork loin are age and information on dry aging.     

An Empirical Study of the Impact of Corruption on Environmental Performance: Evidence from Panel Data

This paper extends the empirical debate on the effects of corruption on environmental degradation by considering a recently available measure of environmental quality, the Environmental Performance Index. This indicator is more comprehensive than the measures of air pollutant emissions commonly used in the literature and, in particular, can also capture the impact of pollution on human health. This allows for a better understanding of the actual effects of a wide range of human activities on the ecosystem. From a panel data analysis, two regularities emerge. First, corruption deteriorates the overall environmental quality. This effect is robust and persistent. Second, our findings highlight the improvement of environmental quality as income rises, even at an initial level of development. This is not in contradiction with the EKC hypothesis because an increase in income levels provides positive externalities on the whole environmental quality by compensating the mere negative effects induced by industrialization on the emission levels. As a consequence, in emerging economies, policies fighting corruption and enhancing development are very likely to improve the environmental performances.     

Customers’ Preferences for Different Processed Tomato Categories in Food Service

Hypothetical discrete choice experiments were conducted to elicit food-service professionals’ preferences and willingness-to-pay for different attributes of processed tomatoes. A sample of 110 food-service professionals were surveyed in Italy, Russia, Eastern Europe, and South Korea in 2012. Data were analyzed by using multinomial logit and random parameter logit models. Results suggest that food-service professionals preferred peeled tomatoes to chopped pulp, tomato purée, and tomato paste. However, their preferences were heterogeneous. They would pay a premium price for products labeled with Italian origin. Types of cuisine sold by practitioners, numbers of points of sale, and nationalities also influence practitioners’ WTP. Factors affecting their purchasing decision were freshness of product, followed by convenience, cooking time, price, origin of product, and brand. This study shows that the research method is suitable for evaluating the preferences of food-service professionals. The preferences of industry operators resemble those of consumers.     

A CONVENIENT MULTISECTORAL POLICY CONTROL FOR ICT IN THE US ECONOMY

Through the application of the Macro Multiplier (MM) approach on an Input–Output matrix for US economy in year 2005, the paper identifies the ‘convenient’ structure of a policy control on final demand, oriented to a particular policy objective. The approach quantifies a set of aggregated scale effects, called MM, and the associated structures of both policy and objective variables. In this way the policy maker can both get a complete picture of the patterns of the objective that can be attained and determine a ‘convenient’ structure of the policy variable that compels the model towards those patterns.     

Formal education and public knowledge

In this paper, I examine the transitional dynamics of an economy populated by individuals who split their time between acquiring a formal education, producing final goods, and innovating.The paper has two objectives: (i) uncovering the macroeconomic circumstances that favored the rise of formal education; (ii) to reconcile the remarkable growth of the education sector with the constancy of other key macroeconomic variables, such as the interest rate, the consumption-output ratio, and the growth rate of per capita income (Kaldor facts).The transitional dynamics of human capital growth models, such as Lucas (1998), would attribute the arrival of education to the diminishing marginal productivity of physical capital. Conversely, the model proposed here suggests that it is the rate of learning that catches up with the rate of return on physical capital. As technical knowledge expands, the rate of return on education increases, inducing individuals to stay longer in school. The model's transitional paths are matched with long run U.S. educational and economic data.     

The changing nature of the OECD shadow economy

Traditionally, the presence of the shadow economy (SE) has been associated, mainly and positively, with taxation. Recently, some authors have suggested that the SE may be also linked to the institutional setting (efficiency of the bureaucracy, regulations, corruption, etc.) so that just two stable equilibria are possible. In the “good” one, there is a small hidden sector, large fiscal revenues and honest/appreciated institutions. The other, “bad”, equilibrium is the opposite. Unlike the traditional approach, therefore, the recent literature argues that the tax burden and SE can be negatively correlated. Examining the links between these variables in relatively uncorrupt systems, this paper reconciles the two views. Theoretically, it claims that many different good equilibria can emerge whereby SE and its determinants are linked in complex and different ways. For instance, taxation and SE can go hand-in-hand, even taking into account the institutional framework. Empirical evidence for OECD countries supports both the model and the changing nature of the SE.     

Advertising Self-regulation by Outsiders

Italian advertising self-regulation at present includes only independent members on its investigative and adjudicative bodies. Thus it represents the limit case of outside participation in such a system. This paper analyses the reasons for such a composition, as well as the criteria used in the selection of outside members. It points out that their presence has greatly contributed to the credibility and efficiency of the Italian advertising self-regulatory system. However, their severity risks undermining the confidence and support of the advertising industry. Several cases are quoted and discussed in order to illuminate their recent behaviour.