The digitalization-reputation link: a multiple case-study on Italian banking groups

Purpose – This paper aims to focus on the relation between digital transformation and banks’ reputation, as examined through the information disclosed by the five largest Italian banking groups’ efforts to extend and enhance their digital resources. Considering digitalization as a key strategy for managing reputation, which, in turn, can leverage financial and value performance management, the paper investigates whether and how digital activities might affect banks’ reputation. Therefore, this paper proposes the relationship between digitalization and reputation as a lever for performance management and for increasing efficiency. Design/methodology/approach – The authors use content analysis to generate a digital disclosure index, categorizing activities human, structural and relational. For banks’ reputations, the proxies are a measure of corporate reputation and a reputational risk index. Methodologically the study used multiple case studies, considered as particularly suitable to gain an in-depth understanding of the topic in the case of the five banks. A collection of secondary data and semi-structured interviews are included. Findings – Overall, the digitalization-reputation link shows that banks’ reputation is variously affected, not only by exposure to risk (including reputational risk) but also by strategic issues such as digitalization and the effectiveness of the corresponding communication. Consequently, banks should view digitalization as a key driver to be considered not in a stand-alone perspective, but in a combined approach. Research limitations/implications – Continued research should include the Covid-19 implications. Additionally, it would be important to compare a larger number of banks, with different characteristics, also including variables indicating the corporate governance mechanisms. Practical implications – The analysis contributes to fostering scholars’ and practitioners’ management of the digital transformation challenge that is a current key-factor, capable of increasing banks’ value. It considers not only the drivers directly affecting monetary value but also the institutions’ social and relational value, as well as their reputation. Originality/value – This paper extends prior research on the digitalization-reputation relation by investigating digital transformation through disclosure of activities in this area within the Italian banking sector. It allows to leverage the key-factors that can contribute to increasing banks’ value, considering not only the drivers directly affecting monetary value but also the institutions’ social and relational value, as well as their reputation

A Model Iron Gall Ink: An In-Depth Study of Ageing Processes Involving Gallic Acid

Iron gall inks have been among the most used writing materials after carbon black, thus representing an important element of the historical and artistic heritage of our society. Crucially, the preservation of manuscripts and drawings is influenced by the presence of these inks, leading to conservation issues related to paper degradation and text fading. Besides all the advances obtained in paper conservation, the study of iron gall ink's behaviour and ageing is still an important topic, which requires investigation through an accurate molecular characterisation to produce reliable models. In the present work a micro-destructive method based on liquid chromatography techniques (HPLC-DAD and HPLC-ESI-Q-ToF) has been optimised starting from a model gallic acid-based ink. An in-depth study of the behaviour of the ink in time was performed by natural and artificial ageing tests, monitored by colorimetry, showing the autoxidation of gallic acid to ellagic acid in the prepared mock-ups. The effect of relative humidity on ageing processes was also evaluated, allowing us to determine different intermediates depending on the environmental conditions. Finally, the analytical method developed was then successfully applied for investigating 19th-20th century historical ink samples, where one of the identified ageing markers was detected, besides the expected gallic and ellagic acids

DISTRIBUTION CHANNELS AND FINANCIAL ADVERTISING IN THE ITALIAN ASSET MANAGEMENT MARKET

Advertising has a major effect on individual investors' decisions. Financial instruments tend to be advertised more when market sentiment is high, as investors are more willing to buy. Mechanisms affecting the relationship between market sentiment and advertising activity remain unexplored in the finance literature. Using a novel dataset of advertisements for mutual and exchange-traded funds from the main Italian financial newspaper, we show that the effect of market sentiment on financial advertisements depends upon the distribution channel. Sentiment matters only for products directly traded by the investors, such as exchange-traded funds. Conversely, for financial products - like mutual funds - distributed through a captive distribution network (bank branches and tied agents), financial advisers' actions mitigate the effect of market sentiment on advertising activity. Overall, our findings provide some evidence of the persuasive power of financial advisers in investors' decisions, which arguably requires increased attention from financial market regulators

La Direttiva (UE) 2019/770: i dati personali quale corrispettivo nei contratti di fornitura di contenuti e servizi digitali e le inerenti ricadute sul diritto della privacy

Con l’approvazione della direttiva (UE) 770/2019, il legislatore dell’Unione europea ha espressamente disciplinato, per la prima volta, l’operazione negoziale - già diffusa nella prassi economica - dello scambio tra contenuto o servizi digitali e fornitura di dati personali da parte dell’utente, in un’ottica di apparente gratuità della prestazione ricevuta. Il presente contributo, dopo aver posto l’attenzione sulla natura e sui requisiti del trattamento dati, analizza le potenziali interferenze tra i profili di privacy e di diritto contrattuale, anche alla luce dei rimedi previsti per l’ipotesi di difetto di conformità. La lettura sistematica della direttiva ne conferma la posizione di continuità, in chiave contrattuale, con la “doppia anima” già propria del GDPR, alla ricerca di un bilanciamento tra la logica mercantilistica della commodification dei dati personali, e la visione personalistica, orientata alla tutela della privacy come diritto fondamentale

Robustness Analysis of Historical Timber Roofs: A Case Study of the Gaggiandre Shipyard at the Arsenale of Venice

In this work, a deterministic approach is adopted to analyze the robustness of the timber roof of the Gaggiandre shipyard at the Arsenale of Venice. The capacity of the traditional timber truss to withstand the design loads as a result of the damage in the strut-tie node is evaluated according to the alternative load path method. Two layouts of the trusses are analyzed and compared: before and after the Austrian retrofitting intervention, performed in the late 1800s. For both configurations, robustness analyses are carried out by using linear 2D numerical models that consider the effective rotational capacity of the structural nodes in relation to the construction methods of the timber joints. For the configuration subject to the 19th-century restoration, the 3D response of the roof is also analyzed to verify the additional contribution provided by the longitudinal bracing system to the activation of alternative load paths (bridge effect). The results obtained with the differentanalyses are thoroughly evaluated, providing an indication of the deterministic robustness index of the roofing system based on different assumptions. The outcomes of this work allow to draw some general considerations on the method that could be used for the robustness assessment of historical wood systems

Captive rearing technologies and survival of pheasants (Phasianus colchicus L.) after release

Studies have repeatedly emphasized the limited survival of pheasants reared using traditional methods compared to the wild one. For this reason we performed a field trial to compare survival rates, home ranges and habitat uses of pheasants artificial hatched and reared (traditional method) with pheasants artificial hatched and reared by fostering mothers (hens). A total of 117 artificially hatched pheasants, 57 artificially brooded after hatch and 60 brooded by fostering hens, were equipped with a radio necklace tag or a poncho tag. Both groups were localized two-three times a week after their release in the wild. The survival rates of the brooded-by-hen pheasants showed an improvement of survival rates, either poncho or radio tagged (P<0.05), 90.0% vs 57.1% and 35.0% vs 21.1%, respectively. The average maximum dispersion was 390 and 426 m and the home range were 12.0 and 11.6 ha in artificially brooded and brooded-by-hen pheasants, respectively. The land use showed that the woods were less represented than the available in the home range of every pheasant. For this reason the woods can be reduced in the agricultural areas interspersed with natural Mediterranean vegetation

Experimental and numerical investigations on the shear behavior of existing masonry structures

The great damages experienced by existing masonry constructions during the recent seismic events have highlighted the need of a systematic vulnerability assessment of this building typologies. One of the crucial aspect is the evaluation of the mechanical properties of the materials, which can be achieved through the execution of experimental tests. On existing buildings, it is often unpracticable to perform tests or, when they are performed, their reduced number and local nature do not allow to obtain reliable estimation of the mechanical parameters. Therefore, it is fundamental to identify experimental procedures having the minimum impact on the construction, obtaining, simultaneously, representative results. The scope of this work is to investigate the shear behavior of masonry structural elements, both from the experimental and the numerical point of view. In the first part of the research, an experimental campaign was conducted, in which slightly-destructive and destructive tests were performed on eight masonry buildings, damaged by the 2012 Emilia earthquake. The main objective was to evaluate the most suitable techniques applicable to get reliable information on the material properties. The tests results are analysed and discussed, focusing on the strength parameters obtainable from each test type and on the construction of appropriate failure domains. In the second part of the research, the shear-sliding failure mechanism was studied in detail through numerical simulations of triplet tests and shove tests, using a simplified micro-modeling strategy. The scope was to investigate factors that could affect the shear-sliding behavior of masonry. The results of the numerical analyses allowed to gain a better interpretation and understanding of the outcomes of the shear tests considered. The numerical models were validated through comparisons with experimental results. The understanding gained from the numerical simulations allowed to propose improvements of the testing procedure and of the results interpretation

Measuring machinewashing under the corporate digital responsibility theory: A proposal for a methodological path

Recently, a number of scholars have warned against the risk of a new form of deliberately deceptive communication companies use to assure stakeholders of their good intentions in the adoption and development of digital technologies and advanced information systems based on artificial intelligence. This corporate behaviour, defined as machinewashing, in an attempt to empower engagement processes in the stakeholders’ network and satisfy stakeholder expectations with regard to the ethical implications of the use of artificial intelligence, has, in the final instance, the prevailing purpose of achieving better levels of corporate performance and reputation. However, thus far, scholars have not provided any empirical studies on the existence of corporate machinewashing strategies, and there is a significant lack of clarity as to how to measure machinewashing. Utilising the corporate digital responsibility theory, this paper offers an original methodological contribution to the nascent research field dedicated to machinewashing behaviour. Particularly, this paper provides considerations for detecting machinewashing through an analysis based on the comparison between the information capacity of the reporting and the information reliability level as a proxy for machinewashing strategies and, thus, for the real impact of digitalisation strategies on stakeholders. To this end, we conducted an exploratory content analysis of the reports of ten Italian listed companies from ten different industries. Overall, looking at the gap between what companies say about the impact of digitalisation from an ethical perspective, and what really happens, our results define a possible path for identifying machinewashing, the fields where it happens and the practices that companies use in order to realise these strategies

Deep Learning Forecasting for Supporting Terminal Operators in Port Business Development

Accurate forecasts of containerised freight volumes are unquestionably important for port terminal operators to organise port operations and develop business plans. They are also relevant for port authorities, regulators, and governmental agencies dealing with transportation. In a time when deep learning is in the limelight, owing to a consistent strip of success stories, it is natural to apply it to the tasks of forecasting container throughput. Given the number of options, practitioners can benefit from the lessons learned in applying deep learning models to the problem. Coherently, in this work, we devise a number of multivariate predictive models based on deep learning, analysing and assessing their performance to identify the architecture and set of hyperparameters that prove to be better suited to the task, also comparing the quality of the forecasts with seasonal autoregressive integrated moving average models. Furthermore, an innovative representation of seasonality is given by means of an embedding layer that produces a mapping in a latent space, with the parameters of such mapping being tuned using the quality of the predictions. Finally, we present some managerial implications, also putting into evidence the research limitations and future opportunities