Stakeholder activism, managerial entrenchment, and the congruence of interests between shareholders and stakeholders

We argue that when stakeholder protection is left to the voluntary initiative of managers, concessions to social activists and pressure groups can turn into a self-entrenchment strategy for incumbent CEOs. Stakeholders other than shareholders thus benefit from corporate governance rules putting managers under a tough replacement threat. We show that a minimal amount of formal stakeholder protection, or the introduction of explicit covenants protecting stakeholder rights in the firm charter, may deprive CEOs of the alliance with powerful social activists, thus increasing managerial turnover and shareholder value. These results rationalize a recent trend whereby well-known social activists like Friends of the Earth and active shareholders like CalPERS are showing a growing support for each other's agendas.

QoS support in satellite and wireless networks: study under the network simulator (NS-2)

Aquest projecte es basa en l'estudi de l'oferiment de qualitat de servei en xarxes wireless i satel·litals. Per això l'estudi de les tècniques de cross-layer i del IEEE 802.11e ha sigut el punt clau per al desenvolupament teòric d’aquest estudi. Usant el simulador de xarxes network simulator, a la part de simulacions es plantegen tres situacions: l'estudi de la xarxa satel·lital, l'estudi del mètode d'accés HCCA i la interconnexió de la xarxa satel·lital amb la wireless. Encara que aquest últim punt, incomplet en aquest projecte, ha de ser la continuació per a futures investigacions.

Els isòtops radiogènics(Sr i Nd) en diferents contextes geodinàmics: Illes Canaries i Vesuvi. Preparació i anàlisi de mostres mitjançant la tècnica analítica TIMS

Projecte de recerca elaborat a partir d’una estada l’ Osservatorio Vesuviano (Nàpols, Italia) entre novembre del 2006 i març del 2007. Un dels objectius principals de l’estada ha estat conèixer la tècnica analítica Thermal Ionisation Mass Spectrometry (TIMS ) per l’anàlisi d’isòtops radiogènics (Sr i Nd). Aquesta estada ha permès aprendre tant la part de preparació de les mostres, com la part d’utilització i programació de l’instrument. Inicialment en el projecte es va programar l’anàlisi dels isòtops radiogènics en laves i xenòlits de l’illa de Gran Canaria (Illes Canàries) amb l’objectiu de modelar geoquímicament el mantell terrestre sota les illes Canàries. Finalment, i a part de les mostres inicials de Gran Canaria, es van incloure mostres del volcà Vesuvi per tal de concloure un projecte iniciat el 2003 amb el Professor Giovanni Orsi i la Professora Lucia Civetta. L’estudi dels isòtops radiogènics en contextes geodinàmics tant diferents ha permès comparar la variació dels isòtops radiogènics de Sr i Nd que existeix entre volcanisme d’ intraplaca (Illes Canàries) i volcanisme en zones convergents (Vesuvi).

Migration and trade: Theory with an Application to the Eastern- Western European Integration

The remarkable increase in trade flows and in migratory flows of highly educated people are two important features of globalization of the last decades. This paper extends a two-country model of inter- and intraindustry trade to a rich environment featuring technological differences, skill differences and the possibility of international labor mobility. The model is used to explain the patterns of trade and migration as countries remove barriers to trade and to labor mobility. We parameterize the model to match the features of the Western and Eastern European members of the EU and analyze first the effects of the trade liberalization which occured between 1989 and 2004, and then the gains and losses from migration which are expected to occur if legal barriers to labor mobility are substantially reduced. The lower barriers to migration would result in significant migration of skilled workers from Eastern European countries. Interestingly, this would not only benefit the migrants and most Western European workers but, via trade, it would also benefit the workers remaining in Eastern Europe. Key Words: Skilled Migration, Gains from Variety, Real Wages, Eastern-Western Europe. JEL Codes: F12, F22, J61.

Parents, television and cultural change

This paper develops a model of cultural transmission where television plays a central role for socialization. Parents split their free time between educating their children which is costly and watching TV which though entertaining might socialize the children to the wrong trait. The free to air television industry maximizes advertisement revenue. We show that TV watching is increasing in cultural coverage, cost of education, TV's entertainment value and decreasing in the perceived cultural distance between the two traits. A monopolistic television industry captures all TV watching by both groups if the perceived cultural distance between groups is small relative to the TV's entertainment value. Otherwise, more coverage will be given to the most profitable group where profitability increases in group size, advertisement sensitivity and perceived cultural distance. This leads to two possible steady states where one group is larger but both groups survive in the long run. Competition in the media industry might lead to cultural extinction but only if one group is very insensitive to advertisement and not radical enough not to watch TV. We briefly discuss the existing evidence for the empirical predictions of the model.

La ópera como integración de las artes : LSP 3.1

Embarcarse en la aventura de componer una ópera y llegar a materializarla con los mínimos recursos requiere de mucha imaginación e ilusión, de un trabajo constante y meditado, de un buen equipo de colaboradores, de fe ciega en que todo acabará funcionando y de lo más básico: un buen libreto. La serva padrona de Pergolesi nos demuestra cómo una historia sencilla y de recursos austeros puede llegar a ser tan tremendamente fresca, divertida y entretenida. Este intermezzo representará el punto de partida de una creación en la que la escena teatral y el discurso musical se fundirán de manera indivisible. Al fin y al cabo, la creación de una ópera supone asimilar desde buen principio que en ella convergen diferentes artes de índole muy diversa. Conseguir trabajar dentro de este marco de encuentro multidisciplinar es un privilegio que, sin duda, se debe aprovechar.

La llegenda del cor menjat al Decameró de Boccaccio : estratègies de traducció al català

Des de l'origen de les llengües, els pobles han tingut la necessitat de fer-se entendre. La traducció és una eina fonamental en la difusió i el coneixement de la diversitat, i el traductor, la peça que facilita l'apropament de les cultures. Però a l'hora de portar a terme el seu objectiu, no tots els traductors ho fan de la mateixa manera. Cal tenir en compte factors temporals, culturals, històrics, referencials, lingüístics, socials... elements que determinen el resultat final d'una traducció i les diferències entre les traduccions d'un mateix text. En aquest treball em proposo determinar les diferents estratègies que els traductors han seguit a l'hora de traduir al català el conte novè de la quarta jornada del Decameró de Giovanni Boccaccio.

Analysis of Pleistocene paleodrainage evolution in the Po Basin (Italy) by multivariate statistical techniques

In order to obtain a high-resolution Pleistocene stratigraphy, eleven continuouslycored boreholes, 100 to 220m deep were drilled in the northern part of the PoPlain by Regione Lombardia in the last five years. Quantitative provenanceanalysis (QPA, Weltje and von Eynatten, 2004) of Pleistocene sands was carriedout by using multivariate statistical analysis (principal component analysis, PCA,and similarity analysis) on an integrated data set, including high-resolution bulkpetrography and heavy-mineral analyses on Pleistocene sands and of 250 majorand minor modern rivers draining the southern flank of the Alps from West toEast (Garzanti et al, 2004; 2006). Prior to the onset of major Alpine glaciations,metamorphic and quartzofeldspathic detritus from the Western and Central Alpswas carried from the axial belt to the Po basin longitudinally parallel to theSouthAlpine belt by a trunk river (Vezzoli and Garzanti, 2008). This scenariorapidly changed during the marine isotope stage 22 (0.87 Ma), with the onset ofthe first major Pleistocene glaciation in the Alps (Muttoni et al, 2003). PCA andsimilarity analysis from core samples show that the longitudinal trunk river at thistime was shifted southward by the rapid southward and westward progradation oftransverse alluvial river systems fed from the Central and Southern Alps.Sediments were transported southward by braided river systems as well as glacialsediments transported by Alpine valley glaciers invaded the alluvial plain.Kew words: Detrital modes; Modern sands; Provenance; Principal ComponentsAnalysis; Similarity, Canberra Distance; palaeodrainage

I Riflessi letterari dell’Unità d’Italia nella narrativa siciliana

El treball d'investigació té per objecte oferir un inventari raonat de novel•les i contes curts d’autors sicilians d’entre 1860 i 1898, de Giovanni Verga a la Simonetta Agnello Hornby, diferents en edat, cultura i condició social. Vol fer evident la persistència de la reflexió sobre el Risorgimento "traït", i ajudar a comprendre com hi havia un marc d’unitat política i institucional en el què no es donava cabuda a les diferències entre el Nord i el Sud d’Itàlia

Avaluació de la tècnica de fitoextracció per a la reducció de concentracions de metalls pesants en sòls contaminats per la indústria minera

L’explotació minera, especialment la mineria metàl•lica, ha estat sempre associada ariscos de contaminació ambiental de sòls, aigües i vegetació, originats per l’activitatextractiva, les operacions de concentració dels minerals i pels emplaçaments de residusminers sense una gestió adequada. En molts casos els residus miners s’abocavendirectament a rius i rierols o s’acumulaven en piles pròximes a centres habitats iactivitats agrícoles. Concretament s’estudia els cas de les mines d’Osor. Donada la possible presència de quantitats elevades de metalls pesants en aquests sòlses decideix avaluar una tècnica de remediació de sòls lleugera com la fitoextracció. Lafitoextracció es basa en l’ús de plantes bioacumuladores que absorbeixen metalls delsòl. Aquesta tècnica permet una descontaminació del sòl no agressiva i de baix cost peròrequereix un tractament de llarga durada

Variació temporal de paràmetres de qualitat del sòl ocasionada per l’ús i abandó agrícola del Cap de Creus

Estudi i avaluació de les principals propietats del sòl i la dinàmica erosiva relacionades amb l’ús del sòl i l’abandó agrícola en diferents ambients de la península del Cap de Creus. Per dur a terme aquest estudi s’han seleccionat 7 ambients diferentsrepresentatius d’una seqüència d’usos fins l’abandó en diferents etapes desuccessió vegetal. Els ambients són diferenciats entre sòls cultivats (vinya iolivera), sòls forestals (sureda i pineda), pastures (prats) i matollars (Cistusmonspeliensis i d’Erica arborea) respectivament cremat reiteradament i nocremat durant 25 anys. En cada ambient s’han instal.lat parcel.les d’erosióque permeten avaluar la producció de sediments i la mobilització de nutrients (carboni i nitrogen) durant els episodis de precipitació que generen escolament superficial

Distribution of events of positive selection and population differentiation in a metabolic pathway: the case of asparagine N-glycosylation

Background: Asparagine N-Glycosylation is one of the most important forms of protein post-translational modification in eukaryotes. This metabolic pathway can be subdivided into two parts: an upstream sub-pathway required for achieving proper folding for most of the proteins synthesized in the secretory pathway, and a downstream sub-pathway required to give variability to trans-membrane proteins, and involved in adaptation to the environment andinnate immunity. Here we analyze the nucleotide variability of the genes of this pathway in human populations, identifying which genes show greater population differentiation and which genes show signatures of recent positive selection. We also compare how these signals are distributed between the upstream and the downstream parts of the pathway, with the aim of exploring how forces of population differentiation and positive selection vary among genes involved in the same metabolic pathway but subject to different functional constraints. Results:Our results show that genes in the downstream part of the pathway are more likely to show a signature of population differentiation, while events of positive selection are equally distributed among the two parts of the pathway. Moreover, events of positive selection arefrequent on genes that are known to be at bifurcation points, and that are identified as beingin key position by a network-level analysis such as MGAT3 and GCS1.Conclusions: These findings indicate that the upstream part of the Asparagine N-Glycosylation pathway has lower diversity among populations, while the downstream part is freer to tolerate diversity among populations. Moreover, the distribution of signatures of population differentiation and positive selection can change between parts of a pathway, especially between parts that are exposed to different functional constraints. Our results support the hypothesis that genes involved in constitutive processes can be expected to show lower population differentiation, while genes involved in traits related to the environment should show higher variability. Taken together, this work broadens our knowledge on how events of population differentiation and of positive selection are distributed among different parts of a metabolic pathway.

Capital, Wages, and Growth: Theory and Evidence

Returns to scale to capital and the strength of capital externalities play a key role for the empirical predictions and policy implications of different growth theories. We show that both can be identified with individual wage data and implement our approach at the city-level using US Census data on individuals in 173 cities for 1970, 1980, and 1990. Estimation takes into account fixed effects, endogeneity of capital accumulation, and measurement error. We find no evidence for human or physical capital externalities and decreasing aggregate returns to capital. Returns to scale to physical and human capital are around 80 percent. We also find strong complementarities between human capital and labor and substantial total employment externalities.

Stakeholder Activism, Managerial Entrenchment, and the Congruence of Interests between Shareholders and Stakeholders

We argue that when stakeholder protection is left to the voluntary initiative of managers, concessions to social activists and pressure groups can turn into a self-entrenchment strategy for incumbent CEOs. Stakeholders other than shareholders thus benefit from corporate governance rules putting managers under a tough replacement threat. We show that a minimal amount of formal stakeholder protection, or the introduction of explicit covenants protecting stakeholder rights in the firm charter, may deprive CEOs of the alliance with powerful social activists, thus increasing managerial turnover and shareholder value. These results rationalize a recent trend whereby well-known social activists like Friends of the Earth and active shareholders like CalPERS are showing a growing support for each other s agendas.

Long-run substitutability between more and less educated workers: Evidence from U.S. States 1950-1990

We estimate the aggregate long-run elasticity of substitution between more and less educatedworkers (the slope of the demand curve for more relative to less educated workers) at theUS state level. Our data come from the (five)1950-1990 decennial censuses. Our empiricalapproach allows for state and time fixed effects and relies on time and state dependentchild labor and compulsory school attendance laws as instruments for (endogenous) changesin the relative supply of more educated workers. We find the aggregate long-run elasticity ofsubstitution between more and less educated workers to be around 1.5.