The roots of cooperative credit from a theoretical and historical perspective

Credit is indubitably one of the most important sectors in which the supply of goods and services by cooperatives has arisen. Given the importance of the role of cooperative banks in the development of other sectors and of the territories or communities in which they operate, and the economic and political power that they consequently confer on those who manage them, some of the inherent problems distinctive in general of not-for-profit organizations become critical. In particular: in the case of rapid growth beyond the original group and area, the possibility of maintaining the principles of reciprocity and participation; the role and motivations of the social entrepreneurs acting in the bank; the corporate social responsibility, which, in the case of a bank, is closely connected to how the community’s savings are employed and how investments are selected. As with other cooperative enterprises, credit can be supplied in a variety of forms with different purposes and with different positive and/or negative externalities. Evaluation of the respective advantages and disadvantages must bear in mind the different contexts in which individual banks operate, considering both theoretical aspects (potentialities) and historical ones (past and present modes of operation). These inherent problems are discussed in the first part of the work from a theoretical point of view; while in the second part the first applications and the debate that accompanied them are analysed, given their importance in determining the features of subsequent experiences. In particular, we shall show that they stem from two different interpretations of solidarity and reciprocity: the first one, theorized and, to a certain extent, realized in the Raiffeisen model, is mainly ethical in nature; the second one, typical of the Schulze Delitzsch model, is more closely tied to individual interests tempered by social responsibility.

Financial Deregulation and Economic Distress: Is There a Future for Financial Co-operatives?

The last years have witnessed a wide reshaping of the banking scene. According to researchers and authorities, the aftermath of these developments include an increased risk of demarketing of the conventional banking system towards certain customer segmentations and marginal areas and activities. Recently the banking scene has deteriorated, especially at the local level, as the financial crisis increased the scarcity of readily available, sufficient and reliable services. Behind the current crisis seems to be the influential corporate governance of dominant financial institutions, which introduced innovative products that resulted in less transparency and created uncertainty and a lack of trust toward and within the financial system. The present paper argues that this new reality can be thought of as giving new opportunities for financial co-operatives to increase their importance among the market and areas that they historically serve. The paper bases its analysis on the development pattern of the financial co-operatives of Italy and Greece and outlines the critical path that the financial co-operatives should follow in order to provide efficient (and crucial for local development banking) services and products. It is argued that these changes can be exploited only if the financial co-operatives would be able to transform without losing their basic values. Further, this route goes through the development of new strategies and in certain cases of the modernization of their services. The authors also stress and define the risk of failing that might hinder the co-operative movement, as the huge potential of co-operative endeavors are rarely “translated” to gains automatically.Credit cooperatives, local banks, Greece and Italian financial cooperatives, financial systems, financial crisis

The landscape of MOOCs and Higher Education in Europe and the USA

Oral presentation at the European MOOCs Stakeholders Summit (EMOOCs 2019). Naples (IT), 20-22 May 201

Chapter 9 Conclusions

Based on new empirical research, including qualitative interviews as well as quantitative data from learners across several MOOCs, this book contributes to the debate by providing a comparative study of the diffusion and social implications of MOOCs in the USA and in Europe

Aldo Geuna & Federica Rossi, The University and the Economy. Pathways to Growth and Economic Development

Book Revie

Chapter 9 Conclusions

Based on new empirical research, including qualitative interviews as well as quantitative data from learners across several MOOCs, this book contributes to the debate by providing a comparative study of the diffusion and social implications of MOOCs in the USA and in Europe

Adhesive stresses in axially-loaded tubular bonded joints - Part II: development of an explicit closed-form solution for the Lubkin and Reissner model

The literature presents several analytical models and solutions for single- and double-lap bonded joints, whilst the joint between circular tubes is less common. For this geometry the pioneering model is that of Lubkin and Reissner (Trans. ASME 78, 1956), in which the tubes are treated as cylindrical thin shells subjected to membrane and bending loading, whilst the adhesive transmits shear and peel stresses which are a function of the axial coordinate only. Such assumptions are consistent with those usually adopted for the flat joints. A former investigation has shown that the L-R model agrees with FE results for many geometries and gives far better results than other models appeared later in the literature. The aim of the present work is to obtain and present an explicit closed-form solution, not reported by Lubkin and Reissner, which is achieved by solving the governing equations by means of the Laplace transform. The correctness of the findings, assessed by the comparison with the tabular results of Lubkin and Reissner, and the features of this solution are commente