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1 – 10 of 12Andrea Lippi, Laura Barbieri and Federica Poli
The purpose of this paper is to examine which individual traits of financial advisors influence portfolio transfer speed when a financial advisor recommends investors to migrate…
Abstract
Purpose
The purpose of this paper is to examine which individual traits of financial advisors influence portfolio transfer speed when a financial advisor recommends investors to migrate to a new financial intermediary.
Design/methodology/approach
With reference to the years 2014–2016, one of the three leading Italian tied-agent banks provided the authors with an exclusive and unique data set containing information regarding the financial advisors who had become tied agents, transferring their existing portfolios from their previous banks (traditional or tied-agent banks). The authors observed the ability of the migrant financial advisor in successfully transferring the entire portfolio declared within 12 months of observation. To investigate empirically which personal traits of financial advisors determine their success in the rapid transfer of clients’ portfolios to a new financial intermediary, the authors applied a Cox proportional hazards model.
Findings
The authors find that factors such as age, type of bank of origin and size of the managed financial portfolio positively affect the speed transfer.
Practical implications
The obtained results may be interesting for guiding recruiting policies of financial intermediaries.
Social implications
Regulators should closely examine the phenomenon analyzed in this paper to avoid conflict of interests.
Originality/value
The literature on this topic is scarce, mainly due to the lack of available data. This paper represents an original contribution to open a new field of research.
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Edoardo Lozza, Cinzia Castiglioni, Andrea Bonanomi and Federica Poli
The paper aims to examine whether financial advisors can understand the symbols and meaning that investors associate with money and whether such ability plays any role in…
Abstract
Purpose
The paper aims to examine whether financial advisors can understand the symbols and meaning that investors associate with money and whether such ability plays any role in enhancing the advisor-investor relationship in terms of satisfaction, level of trust, referral propensity and loyalty.
Design/methodology/approach
The authors used a dyadic research design. A total of 186 dyads of financial advisors and their clients took part in the study and completed two parallel self-administered questionnaires.
Findings
The authors found that financial advisors often can detect the emotional associations that their clients attribute to money. Such ability can enhance their relationship with investors.
Research limitations/implications
The main limitation of this study is its exploratory nature and the convenience sampling technique that was adopted. Therefore, researchers are encouraged to test the main findings further.
Practical implications
The results have implications for the development of ad-hoc psychological training to enhance the relationship between financial advisors and investors. Understanding the symbolic meanings and the emotions that clients associate with money may be a prerequisite for a financial services company to succeed and be competitive in the sector.
Originality/value
Despite acknowledging that money is not a neutral object but is layered with symbolic meanings and emotional associations, the behavioral finance literature has so far neglected to study these implications from either a theoretical or a practical point of view. This paper aims to fill this gap by investigating the symbolic value of money in the financial services industry.
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Andrea Lippi and Federica Poli
Inspired by the groundbreaking novel European regulations on financial investors’ profiling (MiFID II regulation and the ESMA 2022 Guidelines), this paper aims to establish which…
Abstract
Purpose
Inspired by the groundbreaking novel European regulations on financial investors’ profiling (MiFID II regulation and the ESMA 2022 Guidelines), this paper aims to establish which distinctive socio-demographic traits distinguish investors who declare a generalized interest in all three environmental (E), social (S), and governance (G) pillars and investors who express interest in just one individual pillar or a combination of two pillars.
Design/methodology/approach
Based on a unique dataset of 190 real-world retail investors, this paper aims to create a profile of three types of investor: those whose interest lies in just the environmental pillar, those interested in a combination of the environmental and social pillars, and those interested in all three E, S, and G pillars jointly. Moreover, we try to ascertain whether it is possible to observe statistically significant differences between the different types of investors.
Findings
The results obtained indicate that it is possible to profile investors who are environmentally-oriented and investors who are ESG-oriented. Notably, levels of financial literacy do not influence investor ESG attitudes.
Practical implications
The results obtained may have multifaceted implications for financial advisors, the banking and financial institution industry, and marketing strategists, as well as for further research.
Originality/value
The originality of this paper derives from the responses used in the analysis, which were collected from a sample of real-world retail investors who completed a mandatory MiFID-questionnaire, validated by the Italian Securities and Markets Supervisory Authority. Our paper thus represents a bridge between a theoretical approach and real-world practice.
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Dario Puppi, Alessandro Pirosa, Andrea Morelli and Federica Chiellini
The purpose of this paper is to describe the fabrication and characterization of poly[(R)-3-hydroxybutyrate-co-(R)-3-hydroxyexanoate] (PHBHHx) tissue engineering scaffolds with…
Abstract
Purpose
The purpose of this paper is to describe the fabrication and characterization of poly[(R)-3-hydroxybutyrate-co-(R)-3-hydroxyexanoate] (PHBHHx) tissue engineering scaffolds with anatomical shape and customized porous structure.
Design/methodology/approach
Scaffolds with external shape and size modeled on a critical size segment of a rabbit’s radius model and an internal macrochanneled porous structure were designed and fabricated by means of a computer-aided wet-spinning (CAWS) technique. Morphological, thermal and mechanical characterization were carried out to assess the effect of the fabrication process on material properties and the potential of the PHBHHx scaffolds in comparison with anatomical star poly(e-caprolactone) (*PCL) scaffolds previously validated in vivo.
Findings
The CAWS technique is well suited for the layered manufacturing of anatomical PHBHHx scaffolds with a tailored porous architecture characterized by a longitudinal macrochannel. Morphological analysis showed that the scaffolds were composed by overlapping layers of microfibers with a spongy morphology, forming a 3D interconnected network of pores. Physical-chemical characterization indicated that the used technique did not affect the molecular structure of the processed polymer. Analysis of the compressive and tensile mechanical properties of the scaffolds highlighted the anisotropic behavior of the porous structure and the effect of the macrochannel in enhancing scaffold compressive stiffness. In comparison to the *PCL scaffolds, PHBHHx scaffolds showed higher compressive stiffness and tensile deformability.
Originality/value
This study shows the possibility of using renewable microbial polyester for the fabrication of scaffolds with anatomical shape and internal architecture tailored for in vivo bone regeneration studies.
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Alberto Mortaro, Diana Pascu, Serena Pancheri, Mariangela Mazzi, Stefano Tardivo, Claudio Bellamoli, Federica Ferrarese, Albino Poli, Gabriele Romano and Francesca Moretti
According to literature, interruptions during drug administration lead to a significant proportion of medication errors. Evidence on the effectiveness of interventions to reduce…
Abstract
Purpose
According to literature, interruptions during drug administration lead to a significant proportion of medication errors. Evidence on the effectiveness of interventions to reduce interruption is still limited. The purpose of this paper is to explore main reasons for interruptions during drug administration rounds in a geriatric ward of an Italian secondary hospital and test the effectiveness of a combined intervention.
Design/methodology/approach
This is a pre and post-intervention observational study based on direct observation. All nurse staff (24) participated to the study that lead to observe a total of 44 drug dispensing rounds with 945 drugs administered to 491 patients in T0 and 994 drugs to 506 patients in T1.
Findings
A significant reduction of raw number of interruptions (mean per round from 17.31 in T0 to 9.09 in T1, p<0.01), interruptions/patient rate (from 0.78 in T0 to 0.40 in T1, p<0.01) and interruptions/drugs rate (from 0.44 in T0 to 0.22 in T1, p<0.01) were observed. Needs for further improvements were elicited (e.g. a greater involvement of support staff).
Practical implications
Nurse staff should be adequately trained on the risks related to interruptions during drug administration since routine activity is at high risk of distractions due to its repetitive and skill-based nature.
Originality/value
A strong involvement of both MB and leadership, together with the frontline staff, helped to raise staff motivation and guide a bottom-up approach, able to identify tailored interventions and serve concurrently as training instrument tool.
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Massimo Ciambotti, Federica Palazzi and Francesca Sgrò
This paper aims to investigate the link between accounting, religion and art to understand the managerial approach of the Confraternity of Corpus Domini of Urbino and the…
Abstract
Purpose
This paper aims to investigate the link between accounting, religion and art to understand the managerial approach of the Confraternity of Corpus Domini of Urbino and the phenomenon of art commissioning between 1465 and 1513.
Design/methodology/approach
This study is based on the interpretive historical method used to understand, through accounting, the managerial role of confraternities within the economic activity of art commissioning. To this purpose, the present analysis is based on a primary source, represented by the book of revenues and expenses, named B1 (1465–1513).
Findings
The analysis has provided evidence of the role of Urbino’s Confraternity in supporting art commissioning and its capacity to invest significant resources in favor of the social, religious and institutional environment of the time. Results show the connection between Urbino’s Confraternity and painters based on their commissioning agreements, the relation between painters and the Ducal Court and, finally, the role of the Duke of Urbino in funding the Confraternity’s initiatives for painters. Thus, this study highlights the major role played by Urbino’s Confraternity in art commissioning, an instrumental part of the Confraternity’s mission.
Originality/value
This paper presents a unique case study that brings out the managerial approach in art commissioning through accounting documents which make activities and links visible.
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This paper considers the role of nonhuman animals in the thought of Donna Haraway, going from her critique of the animal as model/mirror for the evolution of the human body…
Abstract
Purpose
This paper considers the role of nonhuman animals in the thought of Donna Haraway, going from her critique of the animal as model/mirror for the evolution of the human body politic to her proposal for a “compost” society. It demonstrates her changing positions in relation to the social role of animals and the deepening of her critique of intersectional relations that subordinate nonhuman animals and animalized people.
Design/methodology/approach
The paper intertwines a loosely historical approach and a thematic one, focusing on key issues of sociological theory, such as work, agency and kinship, and the way these relate to the animal question in Haraway's writings. Her texts are discussed both broadly and in-depth, and her positionality in terms of both feminism and antispeciesism is foregrounded.
Findings
The paper shows how the progressive abandonment of a posthuman approach in favor of a compostist one brings Haraway nearer to intersectional ecofeminism and to a fuller consideration of nonhuman agency at a material level, as well as to a deeper critique of instrumental relations of domination and issue that had been problematic in critiques of her earlier work.
Social implications
The paper highlights the role of nonhumans in the evolution and constitution of societies and advocates a response-able multispecies politics.
Originality/value
This paper offers a comprehensive analysis of the social role of animals in Haraway's thought and the deepening antispeciesism of her feminist approach that sheds a different light on her positionality in relation to ecofeminism.
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Mara Manente and Federica Montaguti
Studies on the impact of tourism in art cities underlined that many cities begun to suffer too many costs because of mass tourism. The problem of costs/benefits balance was in…
Abstract
Studies on the impact of tourism in art cities underlined that many cities begun to suffer too many costs because of mass tourism. The problem of costs/benefits balance was in some case further complicated by the quick increase in a peculiar kind of excursionists — the so called false excursionists. Their increase is in fact joined with the spreading around the city of “alternative” accommodations. But false excursionists bring to the destination more costs and less benefits than traditional tourism, as a relevant part of their budget is spent where they are lodging. Thus, this sort of tourism “development” calls for visitors management policies able to reduce costs and maximize the tourism benefits for the city. But these policies require a deep understanding of the relationship between demand and accommodation supply, and between accommodations within and outside the city. And, more important, a continuous monitoring on how these relationships change in time, and why. Pricing and product strategies put into effect by accommodations, joined with changes in the demand behaviour, are in fact the basic variables of a mechanisms that might eventually lead to a substantial increase in false excursionists number and a stagnation in overnight tourists demand, with major consequences on the cost/benefits ratio for the art city as a whole. Aim of this paper is to introduce a set of 10 indicators and, through their application on the Venice situation, show how they can be used to analyze on diachronic terms the impact of accommodation evolution on demand choice.
Paolo Andrei, Federica Balluchi and Katia Furlotti
In current economic systems, the role played by non-profit and voluntary organisations is relevant. Several studies analyse the development of these organisations and suggest…
Abstract
In current economic systems, the role played by non-profit and voluntary organisations is relevant. Several studies analyse the development of these organisations and suggest reasons related to the dissemination of policies that first consider public intervention and then ‘the third way’ of the economy as a way to increase wealth and support economic development. In this context, it should be noted that:
Modern non-profit organisations (NPOs) take the form of enterprises encouraging the development of capabilities to satisfy human needs in terms of production of goods and utilities.
A systematic cooperation with the local context (i.e. enterprises and Public Administration) is becoming increasingly more important for the survival and development of NPOs.
Excellent opportunities for economic and social growth and for mutual development can develop from this type of cooperation.
Starting from this premise, the purpose of the research is to suggest some insight on the theme of cooperation between for-profit and non-profit world in the light of the thought of Church’s Social Doctrine, and in particular, of the Encyclical Letter of Benedict XVI, Caritas in Veritate – On Integral Human Development in Charity and Truth. In this sense, the contribution is a conceptual work; the study could improve with empirical research concerning the level of diffusion and the form of collaborations for-profit/non-profit in the Italian context.
Modern non-profit organisations (NPOs) take the form of enterprises encouraging the development of capabilities to satisfy human needs in terms of production of goods and utilities.
A systematic cooperation with the local context (i.e. enterprises and Public Administration) is becoming increasingly more important for the survival and development of NPOs.
Excellent opportunities for economic and social growth and for mutual development can develop from this type of cooperation.
Starting from this premise, the purpose of the research is to suggest some insight on the theme of cooperation between for-profit and non-profit world in the light of the thought of Church’s Social Doctrine, and in particular, of the Encyclical Letter of Benedict XVI, Caritas in Veritate – On Integral Human Development in Charity and Truth. In this sense, the contribution is a conceptual work; the study could improve with empirical research concerning the level of diffusion and the form of collaborations for-profit/non-profit in the Italian context.
From a methodological point of view, after a literature review on NPOs and corporate social responsibility, the chapter analyses reasons, strategies and tools of collaborations between non-profit and for-profit worlds (the role of Public Administration and hybrid organisation is excluded). Then, focus moves up on Church’s Social Doctrine and Encyclical Letter Caritas in Veritate with particular attention to the topic analysed in this chapter (collaboration for-profit/non-profit enterprises). The vision emerging from the Encyclical is that the dichotomy between for-profit and NPOs should be resolved by striving for the development of a ‘civil economy’ with the capacity to promote the overall development of the human being. The research highlights the importance of dissemination of initiatives promoted predominantly by NPOs, with the objective of stimulating and supporting the implementation of forms of structured collaboration; we are sure that a ‘connection point’ between for-profit and non-profit is now necessary.
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Federica Miglietta, Matteo Foglia and Gang-Jin Wang
This study aims to examine information (stock return, volatility and extreme risk) spillovers and interconnectedness within dual-banking systems.
Abstract
Purpose
This study aims to examine information (stock return, volatility and extreme risk) spillovers and interconnectedness within dual-banking systems.
Design/methodology/approach
Using multilayer information spillover networks, this paper conduct a deep analysis of contagion dynamics among 24 Islamic and 46 conventional banks from 2006 to 2022.
Findings
The findings show the network’s rapid response to financial shocks. Through cross-sector analysis, this paper identify information spillovers between and within Islamic and conventional banking systems. Furthermore, this research illustrates distinct roles played by Islamic and conventional banks within the multilayer network structure, contingent upon the nature of the financial shock.
Practical implications
Understanding the differential roles of Islamic and conventional banks in information transmission can aid policymakers and financial institutions in devising more effective risk management strategies, thereby enhancing financial stability within dual-banking systems.
Originality/value
This study contributes to the literature by emphasizing the necessity of examining contagion mechanisms beyond traditional single-layer network structures, shedding light on the shadow dynamics of information transmission in dual-banking systems.
Details