The purpose of this paper is to highlight the fact that the asymmetric information approach does not constitute the only theorical framework which gives provinence to the issue of firm financing; a meaningful theory could be elaborated on the basis of the works of Keynes and Schumpeter

In this paper we introduce a generalized second-order Riemann-type derivative for C 1,1 vector functions and use it to establish necessary and sufficient optimality conditions for vector optimization problems. We show that these conditions are stronger than those obtained by means of the...

In vector optimization many notions of approximate solution have been proposed in the literature. In this paper an axiomatic approach is introduced in order to study the approximate solution map of a vector optimization problem in the image space. An impossibility result is proved in the sense...

In this article we focus on the transition from the traditional family business to a more complex situation that occurs when the ownership becomes fragmented due to the generational drift. We illustrate the critical issues, the decisions and the main tools that may be used to manage this...

In this paper a paper for the dynamics of inflation in Italy is proposed.Changes in monetary and credit markets, along with substantional changes in many sectors of the Italian economy suggest to split the sample period into two sub-sample and modelling the dynamics of inflation differently for...

We study the behaviour of the minimal sets of a sequence of convex sets An converging to a given set A. Under suitable assumptions involving only the structure of the single sets An, we obtain the lower convergence of MinAn to MinA. In a reflexive Banach space ordered by a closed convex cone...

In this work we provide a characterization of C 1,1 functions on Rn (that is, differentiable with locally Lipschitz partial derivatives) by means of second directional divided differences. In particular, we prove that the class of C 1,1 functions is equivalent to the class of functions with...

This paper provides an operational procedure for putting indentifying restrictions on a simultaneous equations models. The algorithm works on the restrictions,not on the parameters, such that the identifying restrictions can be imposed before estimation.

This paper aims at analysing the main features of the activities carried out by the Italian biotech industry. This topic is so wide and various that particularly we decided to focus on the value added activities of the so-called “pharma-biotech”, i.e. pharmaceutical firms that have...

The recent management literature on multinational corporations (MNCs) has mainly focused on the new role played by subsidiaries within the international firms. Many scholars have underlined that MNCs tend to organise themselves along a differentiated network approach, where subsidiaries play a...