Institutional complementarities and gender diversity on boards: a configurational approach

Manuscript Type: Empirical Research Question/Issue: To address the lack of a complementarities-based approach in studies of board diversity, this paper seeks to understandwhether and howcertain country-level factors are causally and jointly related towomen on boards and the nature of their complementarities (are they synergic or substitutes?). Moreover, we intend to learn more about the adoption/diffusion of board gender quotas, by taking into account their role in the existing national configurations (whether they are necessary and/or sufficient conditions). Research Findings/Insights: Using fs/QCA, our findings reveal a particular configuration of country-level conditions that supports the existence of a joint causal relation between given institutional arrangements. Furthermore, we find that board gender quota legislation is not a sufficient condition on its own to achieve a higher number of women on boards. Such evidence suggests that its diffusion across countries could be the result of institutional isomorphismor social legitimacy more than to rational reasons. Theoretical/Academic Implications: For scholars, our paper refines and expands insights from the extant comparative corporate governance literature. By finding support for the “bundled” or jointly causal nature of given institutional factors,we open a window for further research that investigates board-level phenomena in a complementarities-based perspective. Practitioner/Policy Implications: For policymakers, this study provides some insights that could better drive their choice about which mix of policies is necessary to improve female representation on boards, and especially in which institutional areas they should be implemented. It is particularly relevant, because once gender quotas are endorsed at board level, they could have ambiguous effects on firm performance and corporate governance

Opinion 1/17 in Light of Achmea: Chronicle of an Opinion Foretold?

The Achmea judgment of the Court of Justice (judgment of 6 March 2018, case C-284/16 [GC]) indicates that two Member States cannot set up an investor-to-state dispute settlement mechanism via a bilateral investment agreement inter se. Does this imply that the Union cannot set up an international investment tribunal through an agreement with a third State? The Court will rule on this issue in Opinion 1/17, dealing with the compatibility between the Canada-EU Comprehensive Economic and Trade Agreement (CETA) and EU Treaties. The present Overview suggests that the Court drafted Achmea having Opinion procedure 1/17 in mind. However, the Achmea judgment is ambiguous: the Court implicitly distinguished Achmea from CETA but elaborated a test potentially applicable to all investment tribunals, including the CETA Tribunal, which is at issue in Opinion procedure 1/17. Should the Court apply the Achmea test in Opinion 1/17, the fate of the CETA Tribunal might be all but sealed

Weird Ties? Growth, Cycles and Firm Dynamics in an Agent-Based Model with Financial-Market Imperfections

This paper studies how the interplay between technological shocks and financial variables shapes the properties of macroeconomic dynamics. Most of the existing literature has based the analysis of aggregate macroeconomic regularities on the representative agent hypothesis (RAH). However, recent empirical research on longitudinal micro data sets has revealed a picture of business cycles and growth dynamics that is very far from the homogeneous one postulated in models based on the RAH. In this work, we make a preliminary step in bridging this empirical evidence with theoretical explanations. We propose an agent-based model with heterogeneous firms, which interact in an economy characterized by financial-market imperfections and costly adoption of new technologies. Monte-Carlo simulations show that the model is able jointly to replicate a wide range of stylised facts characterizing both macroeconomic time-series (e.g. output and investment) and firms' microeconomic dynamics (e.g. size, growth, and productivity).Financial Market Imperfections, Business Fluctuations, Economic Growth, Firm Size, Firm Growth, Productivity Growth, Agent-Based Models.

The antecedents of e-learning adoption within Italian corporate universities: A comparative case study

The implementation of Information and Communication Technologies (ICT) in business education appears to be influenced by a number of organizational issues, such as culture and technological sophistication. However, extant research has had very little to say about the antecedents that shape the adoption and diffusion of ICT across companies. In order to shed light on the phenomenon under investigation, this paper presents a comparative case study between five Italian companies that have instituted a corporate university. By distinguishing companies in typical cases and deviant cases with regard to the extensive use of e-learning technologies, our findings provide some useful insights about the antecedents that make companies more or less prone to employ the new frontiers of technology in their CUs

A look at the relationship between industrial dynamics and aggregate fluctuations

The firmly established evidence of right-skewness of the firms’ size distribution is generally modelled recurring to some variant of the Gibrat’s Law of Proportional Effects. In spite of its empirical success, this approach has been harshly criticized on a theoretical ground due to its lack of economic contents and its unpleasant long-run implications. In this chapter we show that a right-skewed firms’ size distribution, with its upper tail scaling down as a power law, arises naturally from a simple choice-theoretic model based on financial market imperfections and a wage setting relationship. Our results rest on a multi-agent generalization of the prey-predator model, firstly introduced into economics by Richard Goodwin forty years ago.Firm size; Prey-predator model; Business Fluctuations

Adaptive microfoundations for emergent macroeconomics

In this paper we present the basics of a research program aimed at providing microfoundations to macroeconomic theory on the basis of computational agentbased adaptive descriptions of individual behavior. To exemplify our proposal, a simple prototype model of decentralized multi-market transactions is offered. We show that a very simple agent-based computational laboratory can challenge more structured dynamic stochastic general equilibrium models in mimicking comovements over the business cycle.Microfoundations of macroeconomics, Agent-based economics, Adaptive behavior

EMERGING MODELS FOR CORPORATE WELFARE AND HR MANAGEMENT IN THE SERVICE-DOMINANT LOGIC

large body of research highlights the key-role of human resources in the new service economy. The service-dominant logic considers them as operant resources in value co-creation. Internal marketing policies, total rewards strategies and corporate welfare initiatives underline the importance of getting employees motivated, engaged, and satisfied. By combining HRM, IT and service systems issues, this paper aims to explore the emergence of new professional services providers in the Italian context and their innovative solutions in managing corporate welfare programs through integrated service systems. Through a systematic review, our findings describe the common features of emerging corporate welfare service systems and suggest several future paths of research in order to advance empirical knowledge in this high-potential field

Disaster Management in EU Law: Solidarity among Individuals and among States

To ensure the protection of persons, environment and property, public authorities conduct \u2018disaster management\u2019 activities (also known as \u2018civil protection\u2019), such as search and rescue, firefighting, health aid and financial relief. Disaster management arguably constitutes an essential public service, which contributes to the pursuit of vital public interests (eg public health) and the fulfilment of essential individual needs and interests, notably human rights. Disaster management is indeed classified as a public service in certain States. Disaster management may also be seen as a \u2018meta public service\u2019, which enables the provision of other essential public services. To ensure the protection of persons, environment and property, public authorities conduct \u2018disaster management\u2019 activities (also known as \u2018civil protection\u2019), such as search and rescue, firefighting, health aid and financial relief. Disaster management arguably constitutes an essential public service, which contributes to the pursuit of vital public interests (eg public health) and the fulfilment of essential individual needs and interests, notably human rights. Disaster management is indeed classified as a public service in certain States. Disaster management may also be seen as a \u2018meta public service\u2019, which enables the provision of other essential public services. The performance of civil protection activities may encounter some obstacles. Economic rules may prevent the State from efficiently organising civil protection services, and especially the services that are outsourced to for-profit or non-profit private entities (eg ambulance transport). The concern for the free market may thus potentially trump the one for solidarity in disaster management. The intervention of the European Union may contemporarily complicate these problems, and contribute to solve them. This topic has drawn limited attention so far. It is well established that solidarity is one of the values underpinning the model of European society and a concept central to EU law and, especially, to services of general interest. Yet, it is not clear to what extent this concept affects EU law in general, and disaster management in particular. This Chapter contributes to fill this gap, by assessing whether European Union law gives a positive or a negative contribution to solidarity in disaster situations, and whether it supports the protection of the victims of calamities