Purposes and tools of the market for corporate control

The theme of the market for corporate control features among the most important issues of corporate governance and financial markets. This forces to reflect on the effects produced by regulations on control changes. In this regard, this paper aims to contribute to the establishment of certain methodological rules in order to develop an analytical model that can serve as a tool for an ex-ante evaluation of a regulation of the market for corporate control and may illustrate the impact of a given takeover regulation on the policy purposes it aims to achieve. To this end, the paper intends to identify (i) the traditional policy purposes of a takeover regulation, (ii) the traditional regulatory tools that are available for market regulators, (iii) the impact of each regulatory tool on each policy purpose, (iv) the impact of a given combination of regulatory tools on the overall policy purposes and, ultimately, (v) the ex-ante rating that can be given to a specific takeover regulation

La casa Europa e la Germania. Una riflessione sul ruolo tedesco in Europa alla luce degli ultimi cinque anni di crisi globali

As pointed out by many scholars, Germany is going through a period marked by a deep crisis of the major German parties, characterized by the advance of the Populist Party and the far right Alternative fuer Deutschland (AFD). In 2018 this situation seemed to be a harbinger of change, not only internally, but also in what we can now call Germany's European policy. It is therefore an extremely relevant issue, since the history of Germany is closely linked to that of the European Community, itself in constant transfor-mation, and which in turn, over time and for the Germans, has taken on the function of "cage" (1949-1965), "cradle" (1966-1990) and "frame" (1991-2012). The present work, therefore, in addition to retrac-ing, in detail, the salient moments of the relationship between Europe and the Federal Republic of Germany first and then Germany, wants to be a first reflection on the current relationship between Germany and the European Union in light of the crises that have characterized the last five years of global relations: from the Syrian crisis to the Covid-19 pandemic

Scaling model for a speed-dependent vehicle noise spectrum

Abstract Considering the well-known features of the noise emitted by moving sources, a number of vehicle characteristics such as speed, unladen mass, engine size, year of registration, power and fuel were recorded in a dedicated monitoring campaign performed in three different places, each characterized by different number of lanes and the presence of nearby reflective surfaces. A full database of 144 vehicles (cars) was used to identify statistically relevant features. In order to compare the vehicle transit noise in different environmental condition, all 1/3-octave band spectra were normalized and analysed. Unsupervised clustering algorithms were employed to group together spectrum levels with similar profiles. Our results corroborate the well-known fact that speed is the most relevant characteristic to discriminate between different vehicle noise spectrum. In keeping with this fact, we present a new approach to predict analytically noise spectra for a given vehicle speed. A set of speed-dependent analytical functions are suggested in order to fit the normalized average spectrum profile at different speeds. This approach can be useful for predicting vehicle speed based purely on its noise spectrum pattern. The present work is complementary to the accurate analysis of noise sources based on the beamforming technique

Endurance and parthood

This is a work in analytic metaphysics, which addresses a cluster of interrelated issues at the interface of mereology and persistence over time. In particular, it outlines a defence of a version of Endurance Theory according to which every enduring object is either a mereological simple or a mere sum of mereological simples. It includes, among other things, a proposal of a new way of framing the debate between Endurance Theory and Four-Dimensionalism, a defence of Endurance Theory over Four-Dimensionalism, arguments against the existence of compound substances, and a defence of a traditional metaphysical atomism according to which all objects are ultimately made up of microscopic simples

A twenty-five year transition. The forms of power and the alleged crisis of the nation-state in the contemporary age

In the aftermath of the Soviet collapse, we witnessed the end of the idea of a division of the world between good and bad, between capitalists and proponents of the planned economy, between right and left, between pro-Communists and pro-Americans; and again, disappeared the need of so many emerging countries to define themselves as a “third block” as opposed to the bipolar system. The economic idea of a first, second and third world could have been considered overcome. The world was forced to re-read itself and to understand that it was necessary to start thinking about international relations in a completely different way.Después del colapso soviético, fuimos testigos del fin de la idea de una división del mundoentre el bien y el mal, entre capitalistas y partidarios de la economía planificada, entre la derecha y la izquierda, entre procomunistas y proamericanos; y de nuevo desapareció la necesidad de tantos países emergentes de definirse como un “tercer bloque” frente al sistema bipolar. La idea económica de un primer, segundo y tercer mundo podría haberse considerado superada. El mundo se vio obligado a releerse a sí mismo y a comprender que era necesario empezar a pensar en las relaciones internacionales de una manera completamente diferente

Una teoria della modalità senza mondi possibili.

L'obiettivo di questo lavoro è la costruzione di una teoria della modalità capace di ridurre le nozioni modali a nozioni più fondamentali e di spiegare quali caratteri del mondo rendono veri certi truth-bearer modalizzati. Nella prima parte offro una disamina delle teorie corrispondentiste della verità e della teoria dei truth-maker, al termine della quale opto per una versione della concezione realista della verità libera da impegni ontologici particolari. Nella seconda parte discuto le teorie della modalità proposte negli ultimi decenni, mettendone in luce le carenze. Nella terza parte propongo una teoria della modalità basata sull'idea che un truth-bearer è necessariamente vero se e solo se è vero in virtù degli oggetti su cui verte. Nella quarta parte delineo una metafisica tropista che faccia da sfondo alla teoria della modalità proposta. In particolare, sostengo la tesi secondo cui un individuo è identico a un'istanza della sua sorta ultimativa e ne discuto le implicazioni per alcune questioni ontologiche generali riguardanti, ad esempio, la composizione mereologica degli oggetti. Per finire, in appendice discuto alcuni problemi particolari, come le comparazioni transmondane e la supervenienza

A twenty-five year transition. The forms of power and the alleged crisis of the nation-state in the contemporary age

Después del colapso soviético, fuimos testigos del fin de la idea de una división del mundo entre el bien y el mal, entre capitalistas y partidarios de la economía planificada, entre la derecha y la izquierda, entre procomunistas y proamericanos; y de nuevo desapareció la necesidad de tantos países emergentes de definirse como un “tercer bloque” frente al sistema bipolar. La idea económica de un primer, segundo y tercer mundo podría haberse considerado superada. El mundo se vio obligado a releerse a sí mismo y a comprender que era necesario empezar a pensar en las relaciones internacionales de una manera completamente diferente

Tedeschi, europeisti nonostante tutto

Are Germans still pro-Europe? And, even more, may the current behaviour of German Government be called pro-Europe? This work deals with this interesting topic analyz-ing, on one hand, the European policy of German govern-ment, from Adenauer to the current Chancellor Merkel, on the other hand, the European feeling of German citizens. For a long time Europe has been for Germans the only place in which – and through which – it would be possible to re-cover the sovereignty and reunification. To achieve this, Germans would have to be more European than Europe-ans. What did it happen after the reunification? And, more recently, did the economic crisis change German attitude toward Europe? Retracing the political cornerstones of Germany's european membership and then using the Eurobarometer data, comparing the German data to the French and Italian ones, the paper analyses the existing and unquestionably unique link between Germany and Europe

Five alien achatinid land snails (Gastropoda, Eupulmonata) first reported in greenhouses of Italian botanical gardens

Plant trade and exchange for horticulture, recreation or research play a significant role in the dispersal of molluscs. Alien slugs and snails accidentally introduced into Europe have established rich communities in several countries, but although these introductions could have ecological and economic implications, mollusc xenodiversity in Italian botanical gardens, plant nurseries, and greenhouses has never been investigated. Facilities throughout the country were therefore visited between 2017 and 2023. Here the list of the achatinoidean species so far recorded from Italian greenhouses is provided, giving a short description of their diagnostic characters. The greenhouses of Trento and Padua host interesting assemblages of achatinoideans: the results of this study include the first reports of four achatinids, namely Allopeas clavulinum, Opeas hannense, Paropeas achatinaceum and Subulina octona from Italy and the first record of Geostilbia aperta from Europe. Reproductive anatomy of all species except Geostilbia aperta is illustrated in detail, integrating anatomical knowledge of this group of tiny molluscs, some of which are known mainly from their shell characters. The systematics of all the species is discussed, highlighting topics for future research (e.g., status of Allopeas mauritianum, real identity of Helix hannense, anatomy of Opeas hannense, species-level taxonomy of Subulina, systematic relationships and species-level taxonomy of Geostilbia)

Investigation on clusters stability in DYNAMAP's monitoring network during Covid-19 outbreak

Abstract From March 23rd to May 3rd 2020, Italy underwent a complete lockdown in the attempt to contain the spread of the pandemic due to Covid-19 outbreak. During this period, a new kind of environment has been experienced in all cities, resulting in an abatement of traffic noise levels. Consequently, due to the prohibition of all non-essential activities, traffic noise dynamics changed as well. In this paper, we analyse the data recorded from the permanent noise monitoring network installed in the pilot area of the city of Milan, Italy. The results show how, besides a dramatic reduction of the noise levels (about 6 dB on average), also the noise pattern was profoundly changed. This is particularly important in the framework of DYNAMAP, a statistically based European project able to predict traffic noise over an extended area based on the noise recorded by limited number of monitoring stations. The change of the traffic dynamics, resulting in different noise patterns of the normalized hourly median profiles for each sensor, pose some limitations about the use of such predicting tool during extraordinary situations such as that experienced during a lockdown