Valorizzazione del patrimonio culturale e sviluppo dell\u2019\uabalbergo diffuso\ubb : interdipendenze e sinergie

La tutela e la valorizzazione del patrimonio artistico e culturale costituiscono da diversi anni oggetto di indagine da parte degli studiosi di management. La dif\ufb01colt\ue0 di de\ufb01nire opportune strategie per le gestione e la valorizzazione di questo patrimonio dipende dalla variet\ue0 non soltanto dei prodotti artistici e culturali, ma anche dei soggetti e delle organizzazioni coinvolti, direttamente o indirettamente, nel processo di creazione del valore di tali prodotti. Ci\uf2 signi\ufb01ca che il valore legato al patrimonio non \ue8 soltanto culturale, ma anche sociale ed economico, ovvero un valore multidimensionale. L\u2019obiettivo di questo lavoro \ue8 di evidenziare le sinergie generatrici di valore derivanti dall\u2019interdipendenza tra gli interventi volti alla tutela dei beni culturali, lo sviluppo del territorio e le innovazioni nel settore turistico. In particolare, alla luce delle innovazioni gestionali ed organizzative che caratterizzano il settore turistico, l\u2019impresa alberghiera \u2013 mediante la capacit\ue0 dell\u2019imprenditore di innovare \u2013 pu\uf2 rappresentare uno strumento ef\ufb01cace per realizzare la riquali\ufb01cazione del patrimonio culturale. Il caso dell\u2019\u201calbergo diffuso\u201d qui trattato rappresenta un caso signi\ufb01cativo di come la tutela di un borgo di pregio pu\uf2 contribuire allo sviluppo del turismo, che, a sua volta, valorizza il territorio, generando valore per tutti gli attori locali, nell\u2019ottica della sostenibilit\ue0. In questi termini, generazione di valore e sostenibilit\ue0 non sono in antitesi tra loro, ma rappresentano variabili interdipendenti e coevolutive

Corporate Control and the Financial System in Germany: Recent Changes in the Role of Banks

The present paper aims to analyze the major changes in the German system of cross-holdings between banks and industrial or financial companies. After an overview on the role of banks in bank-based versus market-based financial systems, and on the German system of corporate control, we focus our attention on the relationship not only between banks and industrial companies, but also between financial companies in Germany. Discussing the reasons for cross-holdings within the financial sector, we hypothesize that cross-holdings are less efficient than full mergers. We analyze hypotheses about the structure of the "Deutschland AG" and about a different role of cross-holdings at different levels of the German financial system. A test of hypotheses on recent mergers and acquisitions in the German financial system yields that they explain some of the changes in the cross-holdings occurred after 1994. We conclude that instead of the often referred "Macht der Banken" the German financial system is characterized by an increasing importance of insurance companies.

The Italian Chamber of Lords Sits on Listed Company Boards: An Empirical Analysis of Italian Listed Company Boards from 1998 to 2006

The purpose of the present paper is to contribute to the literature on country interlocks by illustrating and analysing the interlocking directorships in the Italian listed companies from 1998 to 2006. We find that over the entire period a high percentage of the Italian listed companies are connected with each other through a very small minority of directors. Such group of interlocking (overwhelmingly male) directors shows a remarkable stability over time with very few entrants and very few exits mainly related to the passing away of the director. We define them for brevity the Lords of the Italian stockmarket. Lords tend to belong to families of directors, with the first five families having more than 100 directorships in nine years. The highest level of connectivity concerns those companies that belong to the MIB 30/S&P-MIB 40 index, the Italian Blue Chips. In particular, practically all the financial Blue Chips are connected with each other through a web of directors continuously from 1998 to 2006. The extent, depth, and stability of the connections among the Italian listed companies, and in particular the main Italian financial companies, raise doubts on the extent of their competitive behaviour.corporate governance, interlocking directorships, board turnover, antitrust, competition, social network analysis (SNA), exploratory data analysis (EDA), empirical corporate finance

PLGA Based Drug Carrier and Pharmaceutical Applications: The Most Recent Advances

Poly(lactic-co-glycolic acid) (PLGA) is one of the most successful polymers that has been used to produce medicines, such as drug carriers (DC) [...]</jats:p

Struktur pembiayaan dan risiko kecairan: analisis perbankan Islam domestik dan asing di Malaysia

Risiko kecairan berpunca daripada kegagalan bank untuk memenuhi tuntutan liabiliti kepada pelanggan pada kos yang berpatutan dan pada masa yang diperlukan. Ia boleh menyebabkan masalah ketaksolvenan bank dan sekaligus boleh menjejaskan kestabilan sistem kewangan negara. Struktur pembiayaan merupakan salah satu daripada punca berlakunya risiko kecairan. Kegagalan bank menguruskan struktur pembiayaan dengan berkesan boleh meningkatkan risiko kemungkiran dan akhirnya meningkatkan risiko kecairan. Kajian ini melihat hubungan antara struktur pembiayaan dan risiko kecairan di samping membuat perbandingan di antara perbankan Islam domestik dan perbankan Islam asing di Malaysia. Kajian ini menggunakan dua pengukuran bagi risiko kecairan, iaitu; nisbah liputan kecairan (liquidity coverage ratio-LCR) dan nisbah pembiayaan stabil bersih (net stable funding ratio-NSFR). LCR dan NSFR masing-masing menggambarkan risiko kecairan jangka pendek (30 hari) dan jangka yang lebih panjang (setahun). Bagi struktur pembiayaan pula, kajian ini menggunakan empat pengukuran, iaitu; pembiayaan hartanah, indeks pengkhususan (SPEC), serta kestabilan struktur pembiayaan jangka pendek (LCC) dan jangka panjang (VART). Dengan menggunakan regresi panel statik bagi 10 buah perbankan Islam domestik dan 7 buah perbankan Islam asing bagi tempoh 1994-2014, hasil kajian menunjukkan bahawa struktur pembiayaan bagi perbankan Islam domestik mempengaruhi LCR secara positif. Khususnya, hasil kajian menunjukkan semakin tinggi pembiayaan yang diberikan oleh bank kepada sektor hartanah dan semakin stabil struktur pembiayaan jangka pendek (LCC) yang ditawarkan oleh perbankan Islam domestik, maka bank terdedah kepada risiko kecairan jangka pendek (LCR) yang tinggi. Namun sebaliknya, wujud hubungan yang negatif bagi pembiayaan hartanah perbankan Islam asing dengan NSFR. Semakin tinggi pembiayaan hartanah yang diberikan oleh bank kepada pelanggan, maka semakin rendah risiko kecairan jangka panjang (NSFR) yang dihadapi oleh perbankan Islam asing. Keadaan ini berlaku disebabkan perbankan Islam asing memberikan pembiayaan kepada pelanggan yang kurang berisiko untuk mungkir berbanding perbankan Islam domestik. Kesimpulannya, penggubal dasar di peringkat makro dan mikro perlu mengambil kira gelagat struktur pembiayaan dalam merangka strategi pengurusan risiko kecairan yang berkesan. Di samping itu, berdasarkan tren struktur pembiayaan sesebuah bank, pelabur dan pelanggan juga mempunyai gambaran tentang risiko kecairan bank tersebut, seterusnya membantu mereka untuk membuat keputusan pelaburan mahupun simpanan

Connessi! Scenari di Innovazione della Formazione e nella Comunicazione

Le tecnologie della informazione e della comunicazione hanno cambiato radicalmente e tumultuosamente il mondo. Da studiosi, educatori, tecnologi desideriamo capire ed essere attori di questo process