The Performance Assessment of Energy Companies

Abstract In the last two decades, in Europe and in Italy, the energy sector undergone a process of liberalization and opening up to competition that involved markets, institutions, companies and consumers. Liberalization has increased the environmental complexity of energy companies, shifting the priority of the management towards the formulation of strategies to gain market share and, at the same time, keep the old customers. The implemented strategies have been different depending on some company characteristics. In Italy, the geographical position has always influenced the company performances. Our paper aims to assess the economic and financial performances of companies, following the beginning of the liberalization process, focusing in particular on how geographical position have influenced the results

The Link between the Compliance with Environmental Legislation on Separate Collection and the Municipal Solid Waste Costs

Promoting Agenda 2030 through Circular Economy transition requires improving waste system management and increasing separate collection. In Italy, municipal solid waste management is entrusted to the municipalities, most of which have not yet reached the minimum threshold of 65% for the separate collection imposed by the Environmental Code in 2012. This research aims to investigate the effect of compliance with environmental legislation by Italian municipalities on the total cost of municipal solid waste management, filling a shortage of literature studies on this issue. It also investigates the other significant factors affecting municipal solid waste costs, analysing a large dataset of 1914 municipalities. The study uses regression analysis on aggregate and regional samples and population-based subsamples to verify the existence of economies of scale or density. The results show that environmental compliance determines cost reduction in the northern regions, thanks to more efficient separate collection management and recycling activities in the downstream phases of the process. Instead, environmental compliance produces a cost increase in central regions due to the lack of waste recycling and composting infrastructure. Finally, in the conclusions, policy implications are drawn for the Italian case

Understanding how the strategic similarities between energy companies influence the post-mergers and acquisitions performances

The energy sector has experienced rapid evolution in recent years, following the liberalization of the electricity and natural gas markets, driven by the European Union. These developments have led to a certain level of dynamism in Italy, particularly as concerns mergers and acquisitions (M&As) within the sector. This article examines the influence of strategic similarities between the target and bidder companies on their post-M&A performances. The model used involves a hierarchical regression relating the indexes of similarity between the merging companies, regarding their economic-financial management. The results reveal the influence of the strategic similarities and differences on the post-M&A performances of the companies, showing how the positive or negative effect depends on certain characteristics, such as their structure of share capital, business segments and size. The study evidences the strategic variables that should be considered in choosing the optimal target companies

Rol de los sistemas de producción de aves y cerdos de traspatio en la emergencia y mantención de patógenos zoonóticos en Chile

En Chile la producción de aves y cerdos se concentra en unidades de producción industrial con altosestándares de productividad, calidad y bioseguridad. Este sector industrial concentra más del 85% de laspoblaciones de aves y cerdos en el país.Sin embargo, existen otras formas de producción animal. Una de ellas está en manos de pequeñosproductores, y se denomina como "producción animal de traspatio", que en Chile estaría representada pormás de 150 mil productores, 3,7 millones de aves y 400 mil cerdos.Los sistemas de producción animal de traspatio (SPT) son considerados como la forma de producción animalmás común a nivel mundial. Además, se reconoce que la mantención de estas unidades productivas juega unrol relevante para subsistencia de pequeños agricultores y su grupo familiar, siendo principalmente uncomplemento a las fuentes de alimentación que generan recursos económicos esporádicos. Sin embargo, segeneraliza a estas unidades productivas como poseedoras de severas deficiencias en bioseguridad

One Welfare : Assessing the Effects of Drought and the COVID-19 Pandemic on Farmers' Well-Being and Their Perception of Goats' Welfare

Considering the interconnections between human well-being, animal welfare, and the environment, this study aimed to investigate the impacts of drought and the COVID-19 pandemic on small-scale goat farmers' well-being and their perception of goats' welfare following the One Welfare framework. Using a telephone survey, close-ended questions, and Likert scales, we assessed the impacts of drought and the COVID-19 pandemic on human well-being and animal welfare in the Coquimbo region of Chile. The DASS-21 questionnaire was used to evaluate farmers' mental health. Goat farmers perceived the scarcity of water and food for animals as factors that negatively affected animal productivity and welfare and caused an increase in farmers' stress levels. Farmers who had not been visited by a veterinarian showed higher levels of stress than those who received one visit during the year (M = 10 vs. 2, p = 0.025). Additionally, farmers who perceived better welfare of their animals showed lower levels of depression (r = −0.17, p = 0.048), anxiety (r = −0.21, p = 0.016), and stress (r = −0.33, p < 0.001). These findings emphasize the importance of addressing farmers' mental health and veterinary support as crucial aspects to ensure both goat welfare and farm productivity

Backyard poultry production in Chile: animal health management and contribution to food access in an upper middle-income country

Backyard production systems (BPS) that involve poultry are a good way to improve food security and poverty alleviation. Few studies have been carried out to quantify the contribution of poultry production to these households and the constraints they might face if a priority animal disease enters these systems. This study aims to characterize the poultry-rearing BPS in central Chile and to identify socio-economic factors associated to households’ consumption of poultry. Data was collected from 384 BPS through a face-to-face semi-structured questionnaire. Value chain framework associated with BPS poultry rearing and cash flow analysis of BPS was done to identify the inputs/outputs of the system and to know the profitability of the system. Multiple linear regression was performed to identify the BPS and household factors associated to poultry consumption. The results of this study suggest that BPS in central Chile have biosecurity deficiencies such as: lack of confinement, lack of veterinary assistance and incorrect handling of dead animals. Cash flow analysis indicated that 62% of the BPS had a positive balance from production. Distance to closest market and per capita income were factors associated to poultry value to farmers. Different factors were significant predictors of household poultry consumption. Positive predictors of consumption were identified as: (i) older owners, (ii) higher transportation price to closest market, (iii) larger flock size (iv) birds raised by women and (v) owning a car. On the contrary, (i) higher per capita income and (ii) bigger household size predicted a reduction in consumption. The results indicate the importance of BPS to low-income families and those living in remote areas while also highlighting the vulnerability of these systems to disease risks

Nonlinear Optimization

Lectures given at the CIME Summer Shool held in Cetraro, Italy, July 01-07, 2007

NONLINEAR OPTIMIZATION AND RELATED TOPICS

Proc. of the Int. School of Mathematics G. Stampacchia, 26st Workshop: Nonlinear Optimization and Applications, Erice, Italy, 199