Contractual networks: an organizational model to reduce the competitive disadvantage of small and medium enterprises (SMEs) in Europe’s less developed regions. A survey in southern Italy

International Entrepreneurship and Management Journal - Limitations faced by southern Italy’s small enterprises due to their dimensions may be overcome by cooperation strategies and network...     

The effect of female representation on political budget cycle and public expenditure: Evidence from Italian municipalities

This study analyzes the impact of the gender composition of political institutions on the political budget cycle (PBC) and on the size and structure of public expenditure. An instrumental variable approach is implemented to evaluate the influence of female politicians in municipal councils. The introduction of gender quotas for Italian municipalities is used as an exogenous variation in female participation in politics. The results show that: (i) fluctuations in local public spending are only slightly affected by the presence of a wider female representation; (ii) an increase in the number of elected women reduces the overall amount of public expenditure; (iii) this reduction involves fields typically affected by PBC (e.g., roads' maintenance) except those related to females' needs (e.g., kindergarten, primary education, and social care).     

Poland

Statistical Annex

Poland     

Does Size Matter? An Examination of Small and Large Web-Based Brand Communities

We investigate the causal relationship between brand community identification, brand affect, community loyalty, brand loyalty, brand evangelism, and community evangelism, developing a structural equation model set within the context of online brand communities for newly hybridized roses. The analysis considers size as a moderator for the relationships between constructs, comparing small and large web-based brand communities. Findings highlight that small communities operate differently from larger ones with regard to numerous aspects, and possess specific strengths and weaknesses. Members of small communities develop higher community loyalty; brand loyalty in small community stems more from community loyalty than from brand affect; small communities engage in word of mouth for the community more than in word of mouth for the brand. Managerial implications are addressed.     

Public Investment,the Stability Pact and the ‘Golden Rule’

The fiscal rules set in the Treaty of Maastricht and in the Stability and Growth Pact have sometimes been criticised as an excessively binding constraint for appropriate counter‐cyclical action. The risk that the rules may permanently reduce the public sector's contribution to capital accumulation has also been pointed out. In this framework, the adoption of a ‘golden rule’ has been suggested. Starting from the recent debate, this paper tackles two questions: (a) the implications of the Pact for public investment and (b) the pros and cons of introducing a golden rule in EMU's fiscal framework, given the objectives of low public debts and adequate margins for a stabilising budgetary policy. The analysis suggests that the rules set in the Treaty and in the Pact may negatively influence public investment spending. However, the golden rule, although intuitively appealing, does not seem to be an appropriate solution to the problem.     

How do managerial successions shape corporate financial policies in family firms?

Despite recent evidence on the importance of chief executive officer (CEO) successions in family firms, we still know little about the differences in corporate strategies entailed by family and professional managers around transition. We investigate the consequences of managerial successions for the financial policies of Italian family firms. Our findings indicate that the appointment of non-family professional CEOs leads to a significant increase in the use of debt, primarily driven by short-term maturities. We document substantial heterogeneity in the impact of professional successions on debt financing: the increase in debt is particularly pronounced for young firms, firms with a high level of investment, and firms in which the controlling family maintains a dominant representation on the board of directors. Examining the importance of financial flexibility, we find that the increase in debt occurs primarily when firms are cash-poor, and when incoming CEOs can exploit spare borrowing capacity.     

Probabilities of Consistent Election Outcomes with Majorities Based on Difference in Support

Computer simulations are used to evaluate the likelihood of consistent outcomes under the class of majorities based on difference in support. These majorities require certain consensus in collective preferences to declare an alternative as the winner. More precisely, individuals show preference intensities in the unit interval among each pair of alternatives and it is required that the winner alternative obtains a difference in the sum of the intensities with respect to the loser alternative. This difference is a real number located between 0 and the total number of voters. We introduce the values of the required threshold for which majorities based on difference in support lead to transitive and triple-acyclic collective decisions with a probability of 1. Our results improve the previous theoretical ones since they require softer thresholds to reach consistent collective decisions.     

Formal and informal learning in the workplace: a research review

The radical economic, social and cultural changes experienced by the labour market within recent decades have helped to highlight the central role played by the learning process in individual career development and organizational success. In such fast‐moving working contexts, skills and competencies rapidly become outdated and need to be continuously implemented and empowered as a strategic factor for global competitiveness. Traditional models of learning both inside and outside of the workplace have become unable to explain the complexity of such a process, weaving between and overlapping formal and informal components. Starting with this premise, the aim of the present paper was to analyse the role of knowledge and experience as important learning frames, which allow the acquisition and development of competencies in the workplace. A human resource development perspective was adopted, aimed at reconciling both the organizational and individual stances implied in the process. The methodology of achieving this was to review the most recent literature on workplace learning, with a special focus on its formal and informal dimensions.