How specific business angel makes his investment decision. An italian case study.

The main purpose of this article is to improve understanding of the decision-making process of Business Angels, regarding in particular the criteria used in the first stage of choice of the investment. Empirical results indicate that Business Angels play a key role in facilitating the development of a business because of the financial resources they can bring and the human capital that can effectively support the entrepreneur’s choices. This article is based on an in-depth case study of an experienced Business Angel operating in Italy. Future research will continue to examine the factors characterizing the business angel’s investments. Moreover, using larger samples it will be possible to test the results of this exploratory study

Exploring a new business model for lending processes in the banking sector using Blockchain technology: An Italian case study

Blockchain is a decentralized information technology (IT) architecture that has garnered significant attention across various sectors of the global economy. In the banking sector, blockchain was initially used for cryptocurrency trading and later expanded to encompass smart contracts, peerto- peer transactions, and other banking services. In recent years, blockchain technology (BT) has been applied to streamline less standardized credit processes and to successfully support mortgage credit through decentralized recording on ledgers. Employing a qualitative research approach, this paper proposes a novel business model for small banks that utilizes new-generation information technologies to enhance loan profitability. While previous research has linked BT to lending processes, this study is the first to propose a BT application for reshaping traditional banking practices, especially for commercial banks. The research findings demonstrate that blockchain implementation offers advantages in containing information asymmetries, managing credit rationing, and driving business innovation

How IT Makes Company a Better Company

“Manager should consider unnecessary mentioning what’s right” (Saraceno, 2013). Pursuing this line of thought, many studies have underlined that the success of a strategy depends on identifying what is wrong with the performance of people involved and manager has several options when confronted with a decision-making problem. Companies that operate in international context have to deal with an amplitude of problems, and the perception the pecularities of a foreign culture is a particularly important skill in order to deal with all unpredictable and diverse issue and to achieve the aims of the company. Regarding to business many scholars have payed attention on the issue of culture differences (Hofstede G., 1999, 2001; Hofstede G.J., Minkov M. and Hofstede G., 2010; 2014; Triandis, 2004; Furrer, 2000; Minkov, 2011). In particular, Hofstede G. has developed a model useful in the implementation of many business systems, such as budget control practices, leadership styles or management control systems (Jones M.L., 2007). In fact Hofstede G. has identified six cultural dimensions that provide an explanation for the different approach toward business, that distinguish countries: power distance, uncertainty avoidance, individualism, masculinity, long-term orientation, and indulgence. Therefore the 6D model can account for a framework for managing the company’s knowledge. Dealing across diverse cultures requires not only a training program, but also a change in the mind-set, something that especially managers have to practice on a daily basis and even more when it comes to data and information sharing. Moreover, operating in different countries and facing difficulties, specifically gives managers the opportunity to acquire relevant information, that can be shared through information systems, whereas shared experience creates bonds and ultimately is the key for a successful business. The aim of this paper is to demonstrate how Information Technology can support companies to identify the route to the development of knowledge and organisational skills, develops successful strategies to deal with cultural differences in a manner that is also coherent with the vision of the company. So, since the contribution of exploratory case study research to theory-building is well documented, in order to achieve the goal we will use the qualitative method. In fact despite the challenges the results of case study research can have very high impact, because unconstrained by the rigid limits of questionnaires and models, and it can lead to new and creative insights, and to the ideation of new theory, not to maention the high validity that they have for practitioners – the ultimate users of research

CybeRisk Management in Banks: An Italian Case Study

The financial sector is exposed to the risk of cyber-attacks like any other industrial sector. Furthermore, the topic of CybeRisk (cyber risk) has become particularly relevant given that Information Technology (IT) attacks have increased drastically in recent years, and cannot be stopped by single organizations requiring a response at international and national level. IT risk is never a matter purely for the IT manager, although he clearly plays a key role. A bank's risk management function requires a thorough understanding of the evolving risks as well as the tools and practical techniques available to address them. Upon the request of European and national legislation regarding CybeRisk in the financial system, banks are therefore called upon to strengthen the operational model for CybeRisk management. This will require an important change with a more intense collaboration with the structures that deal with information security for the development of an ad hoc system for the evaluation and control of this type of risk. The aim of the work is to propose a framework for the management and control of CybeRisk that will bridge the gap in the literature regarding the understanding and consideration of CybeRisk as an integral part of business management. The IT function has a strong relevance in the management of CybeRisk, which is perceived mainly as operational risk, but with a positive tendency on the part of risk management to the identification of CybeRisk assessment methods that are increasingly complete, quantitative and able to better describe the possible impacts on the business. The paper provides answers to the research questions: Is it possible to define a CybeRisk governance structure able to support the comparison between risk and security? How can the relationships between IT assets be integrated into a cyberisk assessment framework to guarantee a system of protection and risks control? From a methodological point of view, this research uses a case study approach. The choice of “Monte dei Paschi di Siena” was determined by the specific features of one of Italy’s biggest lenders. It is chosen to use an intensive research strategy: an in-depth study of reality. The case study methodology is an empirical approach to explore a complex and current phenomenon that develops over time. The use of cases has also the advantage of allowing the deepening of aspects concerning the "how" and "why" of contemporary events, on which the scholar has little control. The research bases on quantitative data and qualitative information obtained through semi-structured interviews of an open-ended nature and questionnaires to directors, members of the audit committee, risk, IT and compliance managers, and those responsible for internal audit function and anti-money laundering. The added value of the paper can be seen in the development of a framework based on a mapping of IT assets from which it is possible to identify their relationships for purposes of a more effective management and control of cyber risk

Creazione e condivisione di valore in una prospettiva economico-sociale

L’identificazione di un problema scientificamente rilevante parte dall’osservazione delle manifestazioni di vita aziendale; mediante metodi e tecniche di ricerca e di studio, tale problema è interpretato e spiegato (percezione ed esplicita-zione del problema, definizione degli obiettivi primari) . Lo scopo particolare dello studioso (sotto-obiettivo della ricerca) può essere identificato nella esplicitazione di alcuni aspetti rilevanti del fenomeno aziendale riconducibili, nel caso degli studi del Marchi, a “La creazione e la misurazione del valore: dalla prospettiva finanziaria alla prospettiva economico-sociale” . Il raggiungimento del suddetto scopo, implicando delimitazioni spazio-temporali allo studio, crea un percorso, pur rigorosamente logico, nella scelta delle problematiche da affrontare e nel modo di trattarle. Le aziende sono osservabili come sistemi sociali aperti, ossia rappresentabili in forma di modelli in cui sono definiti gli elementi tra loro legati da relazioni di inter-dipendenza. Sarebbe, forse, più appropriato sostenere che le aziende sono osservabili e rappresentabili come sistemi ovvero come combinazioni di sottosistemi, presi in esame dagli studiosi, letti e interpretati secondo prospettive diverse e con scopi conoscitivi diversi. All’interno di un modello generale possono essere esplicitati diversi modelli particolari od anche all’interno della concezione sistemica della azienda, qua-le sistema combinato tendente all’obiettivo di fondo, le sue parti (sotto-sistemi), par-tendo da condizioni iniziali differenti e con sotto-obiettivi particolari ma co-finalizzati (obiettivo generale), vengono di solito rappresentate mediante modelli. Questi spaziano dagli aspetti che riguardano la gestione, l’organizzazione, e la ragioneria, e per questa via a modelli che sintetizzano le condizioni di aziendalità stessa. Le caratteristiche delle aziende, il perseguimento di un obiettivo, le sue fonda-menta ed implicazioni fanno sì che ad essa mal si addica una teoria dei sistemi chiusi nonché una rappresentazione statica della stessa: “le imprese possono essere considerate sistemi aperti che interagiscono con il loro ambiente” creando o mantenendo con esso un processo di scambio . L’azienda è un sistema aperto, offre beni e servizi atti a soddisfare bisogni umani, è centro di attrazione di lavoro e capitale . In definitiva, ciò che compie l’azienda non riguarda solo sé stessa: di fatto, l’azienda svolge una funzione sociale in quanto nasce per soddisfare i bisogni umani e in quanto è composta da persone al proprio interno e collegata con altre, e con entità, formazioni riconducibili a persone. Alla luce di queste brevi premesse, il presente capitolo ha l’obiettivo di proporre alcune riflessioni in merito alla dimensione economico-sociale del fenomeno aziendale, concentrandosi sulla creazione di valore e, quindi, sulla sua condivisione in una prospettiva economica, ma soprattutto sociale. Senza pretesa di esaustività, questo contributo richiama, anzitutto, il pensiero sul tema degli studiosi italiani che si distingue per originalità di approccio al problema e innovatività; in tale ambito, rilevante risulta la prospettiva di analisi offerta dallo Studioso, già durante la sua Lectio magistralis tenuta il 19 ottobre 2019 presso l’Aula Magna del Dipartimento di Economia e Management dell’Università di Pisa. Il Marchi, rivolgendo il proprio interesse alle relazioni tra passato e presente e motivato dalla varietà di aspetti propri del fenomeno aziendale, ha inteso giungere a definire dei punti fermi nel suo percorso. L’importanza della sua ricerca può essere intuita in maniera agevole solo se ogni ambito è stato attentamente indagato, ogni contributo attentamente collocato in una dimensione spaziale e temporale congrua per la finalità che esso intende raggiungere. Il capitolo approfondisce poi la funzione sociale dell’azienda, anche alla luce della letteratura internazionale, per proporre quindi alcune riflessioni in merito alla valenza strategica del processo di creazione e di condivisione di valore da parte delle aziende. Il capitolo si conclude con alcune riflessioni finali

Teneurins: Role in Cancer and Potential Role as Diagnostic Biomarkers and Targets for Therapy

Teneurins have been identified in vertebrates as four different genes (TENM1-4), coding for membrane proteins that are mainly involved in embryonic and neuronal development. Genetic studies have correlated them with various diseases, including developmental problems, neurological disorders and congenital general anosmia. There is some evidence to suggest their possible involvement in cancer initiation and progression, and drug resistance. Indeed, mutations, chromosomal alterations and the deregulation of teneurins expression have been associated with several tumor types and patient survival. However, the role of teneurins in cancer-related regulatory networks is not fully understood, as both a tumor-suppressor role and pro-tumoral functions have been proposed, depending on tumor histotype. Here, we summarize and discuss the literature data on teneurins expression and their potential role in different tumor types, while highlighting the possibility of using teneurins as novel molecular diagnostic and prognostic biomarkers and as targets for cancer treatments, such as immunotherapy, in some tumors

SAPERO: a new tool for safety analyses in advanced radiotherapy

Improving safety standards in advanced radiotherapy technologies, where historical experience is not sufficient due to innovation aspects, raises the need to perform studies using new tools that follow a holistic view of the process chain. Such studies are useful to identify additional critical elements compared to safety analyses carried out by classic tools. In this field, SAPERO (La SicurezzA del PazientE: tecniche avanzate ed innovative per la valutazione del rischio di eventi indesiderati all’interno del percorso assistenziale nel settore RadioterapicO) is a new assessment tool that allows to use integrated of Hierarchical Task Analysis (HTA); Failure Mode Effects and Criticality Analysis (FMECA); Cognitive Task Analysis (CTA); Human Error Assessment Reduction Technique (HEART). The methodological approaches have been suitably modified to address their operating in the medical sector under study. Some improvements have concerned the application of the fuzzy theory in FMECA and the use of a linguistic approach in HEART. In this paper, SAPERO application on a case study related to treatment procedures in helical tomotherapy performed at the radiotherapy department of ARNAS Civico hospital, Italy, is described. The results have allowed to provide suggestions aimed to improve the examined process

Vulnerability analysis of satellite-based synchronized smart grids monitoring systems

The large-scale deployment of wide-area monitoring systems could play a strategic role in supporting the evolution of traditional power systems toward smarter and self-healing grids. The correct operation of these synchronized monitoring systems requires a common and accurate timing reference usually provided by a satellite-based global positioning system. Although these satellites signals provide timing accuracy that easily exceeds the needs of the power industry, they are extremely vulnerable to radio frequency interference. Consequently, a comprehensive analysis aimed at identifying their potential vulnerabilities is of paramount importance for correct and safe wide-area monitoring system operation. Armed with such a vision, this article presents and discusses the results of an experimental analysis aimed at characterizing the vulnerability of global positioning system based wide-area monitoring systems to external interferences. The article outlines the potential strategies that could be adopted to protect global positioning system receivers from external cyber-attacks and proposes decentralized defense strategies based on self-organizing sensor networks aimed at assuring correct time synchronization in the presence of external attacks

Global variations in diabetes mellitus based on fasting glucose and haemogloblin A1c

Fasting plasma glucose (FPG) and haemoglobin A1c (HbA1c) are both used to diagnose diabetes, but may identify different people as having diabetes. We used data from 117 population-based studies and quantified, in different world regions, the prevalence of diagnosed diabetes, and whether those who were previously undiagnosed and detected as having diabetes in survey screening had elevated FPG, HbA1c, or both. We developed prediction equations for estimating the probability that a person without previously diagnosed diabetes, and at a specific level of FPG, had elevated HbA1c, and vice versa. The age-standardised proportion of diabetes that was previously undiagnosed, and detected in survey screening, ranged from 30% in the high-income western region to 66% in south Asia. Among those with screen-detected diabetes with either test, the agestandardised proportion who had elevated levels of both FPG and HbA1c was 29-39% across regions; the remainder had discordant elevation of FPG or HbA1c. In most low- and middle-income regions, isolated elevated HbA1c more common than isolated elevated FPG. In these regions, the use of FPG alone may delay diabetes diagnosis and underestimate diabetes prevalence. Our prediction equations help allocate finite resources for measuring HbA1c to reduce the global gap in diabetes diagnosis and surveillance.peer-reviewe