Pope as media star: a long career full of reinvention

On the whole, a man who is elected as Pope is well on in years. Some, despite this, have managed to reign for a long time, Leo XIII for instance who came to the throne when he was already seventy in 1878, reigned for twenty five years. Wojtyla was elected when he was only fifty eight, in 1978. In the last century or so, the papacy has become visible worldwide through the mass media. On his accession, Wojtyla was presented as a man's man, a sportsman - according to Professor Eamon Duffy of Cambridge University - as a Bishop with balls. Like other media stars who have stayed the test of time, e.g. Madonna, David Bowie, it seems that he has been able to reinvent his media image to some extent; from the active sportsman to the benevolent grandfather to the ailing figure we see today. He has taken on the aspect of a media star, a world traveller, a spiritual leader, a politician, a mediator and a peace leader. He has been described as the most-photographed person on the planet. This paper will attempt to trace these changes and to ascertain, using Vatican and media sources to discover how much of this continual change is driven by the personality of John Paul himself and how much is a deliberate policy on the part of the Vatican.

Home bias persistence in foreign direct investments

The purpose of this paper is to analyse the issues related to home bias and foreign direct investments (FDIs). We study the role of physical, cultural, and institutional distances from home on FDI decisions taken by corporations to assess whether the globalization of the past two decades has reduced their influence. Using the ‘home bias’ framework from the finance literature and the gravity model from the economics literature, we utilize a large sample of both developed and emerging markets, using FDI flows of 6263 unique bilateral country pairs over a 30-year period. We find strong empirical evidence of persistent home bias in FDI outflows, and we show that not only physical distance but also cultural and institutional similarities between host and source countries remain a decisive factor in foreign corporate investment decisions. We also show that such home bias is persistent over time and is observed around the world.

Housing market trend and rail transport investments in the city of Naples

Rail transport investments can influence housing market trends, as demonstrated in the literature. However many empirical researches highlight that different results can derive from different urban context applications and that each case should be threaten separately. It is for this reason that this paper is focused on the single case of the city of Naples, where many rail transport investments have been carried out in the last decades. The aim of this study is to give an interpretation of the housing values changes due to the opening of new metro stations. This study applies GIS tools in order to show the spatial distribution and the intensity of rail impacts in different areas of the urban system from 1994 to 2004. This study shows that the extent of the impacts varies from place to place and the effects intensity requires the presence of several complementary factors such as central location of the new stations and the presence of urban planning policies in the transit corridors. This again testifies how housing market is strictly related to the infrastructures investments planning and urban design.

The recent development and performance of ethical investments

In this chapter, we assess the recent development and performance of ethical investments around the world. Ethical investments include both socially responsible investments (following Environmental, Social and Governance criteria) and faith-based investments (following religious principles). After presenting the development of each type of funds in a historical context, we analyse their ethical screening process, highlighting similarities and differences across funds and regions. This leads us to investigate their characteristics in terms of return and risk, and finally evaluate their historical performance using various risk-adjusted performance measures on a small sample of US funds. Hence we are able to not only compare the performance of each fund with each other and with traditional investments, but also assess their relative resilience to the 2007-08 financial crisis.