Foreign Ownership and Performance: Evidence from Italian Firms

This paper studies the impact of foreign ownership on a firm’s economic performance. We use a unique panel data set to test the foreign ownership premium by comparing our sample of firms based in Italy and owned by a foreign subject to a sample of purely domestic firms that, in order to have a proper counterfactual, were selected using propensity score matching. Our difference-in-differences results show the existence of a premium for the size, profitability, and financial soundness of the foreign-owned companies. The premium increases with time, is concentrated in the service sector, and disappears if the foreign investor is based in a fiscal haven.     

Sustainable Power Generation in Europe: A Panel Data Analysis of the Effects of Market and Environmental Regulations

Environmental and Resource Economics - Climate change and greenhouse gas emissions have become increasingly more pressing environmental concerns in European policy agenda. Environmental energy...     

The notion of informal learning within policies for the validation of nonformal and informal learning: A comparison between Austria and Italy

In 2012, European Union Member States committed to implement policies for the Validation of Nonformal and Informal Learning (VNFIL). In this article, we examine Austria and Italy and ask how VNFIL policies in these two countries relate to informal learning (IL) and how this can be interpreted from a workplace learning (WPL) perspective. The notion of IL in VNFIL is largely based on a psychological understanding of learning. We argue that a WPL perspective complements this understanding and serves to better understand learning at work. Based on assumptions concerning the influence of national education and training systems on VNFIL, a comparison is made along three categories: the preferred type of VNFIL, the notion of IL, and the references to workplaces. Despite preferences for summative types of VNFIL, Austria acknowledges a range of types, while Italy is still in the process of development and prefers the so-called autonomous type. Findings suggest a minimalistic understanding of IL in Austria contrasting with Italy, in which IL is seen as firmly embedded within Lifelong Learning. The references to workplaces are weak in both countries. We finally address the role of employers as a delicate issue for VNFIL, when embedded in educational policies.