Le esternalizzazioni di attivit\ue0 produttive tra trasferimento di ramo d\u2019azienda e appalto

il saggio analizza la disciplina delle esternalizzazioni alla luce delle innovazioni apportate dal d.lgs. n. 276/2003, in tema di trsferimento di ramo d'azienda ed appalto. Particolare attenzione \ue8 dedicata al dialogo tra giurisprudenza interna e comunitaria, proponendo un'interpretazione della normativa in chiave antielusiva e di tutela delle garanzie dei diritti dei lavoratori

On tadpoles and vacuum redefinitions in String Theory

Tadpoles accompany, in one form or another, all attempts to realize supersymmetry breaking in String Theory, making the present constructions at best incomplete. Whereas these tadpoles are typically large, a closer look at the problem from a perturbative viewpoint has the potential of illuminating at least some of its qualitative features in String Theory. A possible scheme to this effect was proposed long ago by Fischler and Susskind, but incorporating background redefinitions in string amplitudes in a systematic fashion has long proved very difficult. In the first part of this paper, drawing from field theory examples, we thus begin to explore what one can learn by working perturbatively in a ``wrong'' vacuum. While unnatural in Field Theory, this procedure presents evident advantages in String Theory, whose definition in curved backgrounds is mostly beyond reach at the present time. At the field theory level, we also identify and characterize some special choices of vacua where tadpole resummations terminate after a few contributions. In the second part we present a notable example where vacuum redefinitions can be dealt with to some extent at the full string level, providing some evidence for a new link between IIB and 0B orientifolds. We finally show that NS-NS tadpoles do not manifest themselves to lowest order in certain classes of string constructions with broken supersymmetry and parallel branes, including brane-antibrane pairs and brane supersymmetry breaking models, that therefore have UV finite threshold corrections at one loop.Comment: 51 pages, LaTeX, 7 eps figures. Typos corrected, refs added. Final version to appear in Nucl. Phys. B. Thanks to W. Mueck for very interesting correspondence. v3 was accidentally in draft forma

Mitigating Contagion Risk by ESG Investing

We study whether ESG investing may mitigate the risk of contagion among equity mutual funds. More precisely, we measure the impact of fire-sale spillover, propagating throughout the financial system, on funds ranked on ESG aspects. We compare the relative loss of capitalization experienced by high- and low-ranked funds. Contagion, which is indirect since funds are not exposed to counterparty risk, is modeled using a network structure. In cases of deleveraging from funds, fire-sale spillover propagates throughout the network because of common asset holdings among funds. We find that funds’ vulnerability to contagion decreases when the level of ESG compliance increases. Moreover, the average relative loss is lower for the high-ranked funds than for the low-ranked ones. The small-size funds mainly drive the result. Our findings indicate that contagion is less effective for high-ranked funds. From a macroeconomic perspective, ESG investing represents a new opportunity for diversification that makes the system more resilient to contagion

An alternative 3D inversion method for magnetic anomalies with depth resolution

This paper presents a new method to invert magnetic anomaly data in a variety of non-complex contexts when a priori information about the sources is not available. The region containing magnetic sources is discretized into a set of homogeneously magnetized rectangular prisms, polarized along a common direction. The magnetization distribution is calculated by solving an underdetermined linear system, and is accomplished through the simultaneous minimization of the norm of the solution and the misfit between the observed and the calculated field. Our algorithm makes use of a dipolar approximation to compute the magnetic field of the rectangular blocks. We show how this approximation, in conjunction with other correction factors, presents numerous advantages in terms of computing speed and depth resolution, and does not affect significantly the success of the inversion. The algorithm is tested on both synthetic and real magnetic datasets

Simplified approach to integrate seismic retrofitting prioritization with social cost evaluation: A case study in central Italy

In the last three decades, bridge stock seismic retrofitting prioritization has become one of the cult topics for scientific discussions in the bridge management strategies. More recent methods are focusing on the evaluation of the generalized failure cost, of a specific bridge derived from direct and indirect costs induced to the users/residents of the area exposed to the seismic hazard as a consequence of bridge collapse. However, when these approaches have to be applied to large transport networks, appear still very complex and computa-tional demanding, and therefore simplified methods to evaluate the impact in terms of social cost related to the reduced efficiency of a transportation network due to potential bridge failure, are required.In this work, a simplified method for seismic retrofitting prioritization on a bridge stock is proposed, which is based on a "blended" approach considering specific fragility curves according to several bridge features and condition state, seismic inputs and generalized failure costs related to the transportation network. The effectiveness of the method has been showed on a case study of a local bridge stock placed in central Italy and the obtained results have been compared with those provided by more refined transport simulation models, on one hand, and by more traditional prioritization approaches, on the other. It is highlighted that this method can be very useful for transportation network managers with in a limited budget scenario, in case of lack of information about possible earthquake -induced impacts on a transportation network efficiency.(c) 2022 Periodical Offices of Chang'an University. Publishing services by Elsevier B.V. on behalf of KeAi Communications Co. Ltd. This is an open access article under the CC BY-NC -ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Implicit incentives for fund managers with partial information

We study the optimal asset allocation problem for a fund manager whose compensation depends on the performance of her portfolio with respect to a benchmark. The objective of the manager is to maximise the expected utility of her final wealth. The manager observes the prices but not the values of the market price of risk that drives the expected returns. Estimates of the market price of risk get more precise as more observations are available. We formulate the problem as an optimization under partial information. The particular structure of the incentives makes the objective function not concave. Therefore, we solve the problem by combining the martingale method and a concavification procedure and we obtain the optimal wealth and the investment strategy. A numerical example shows the effect of learning on the optimal strategy