Regulating State Aid: Inter-jurisdictional competition, public choice, and corporate governance

Depending on the regulatory regime they are subject to, governments may or may not be allowed to hand out state aid to private firms. The economic justification for state aid can address several issues present in the competition for capital and the competition for transfers from the state. First, there are principal-agent problems involved at several stages. Self-interested politicians might enter state aid deals that are the result of extensive rent-seeking activities of organized interest groups. Thus the institutional design of political systems will have an effect on the propensity of a jurisdiction to award state aid. Secondly, fierce competition for firm locations can lead to over-spending. This effect is stronger if the politicians do not take into account the entirety of the costs created by their participation in the firm location race. Thirdly, state aid deals can be incomplete and not in the interest of the citizens. This applies if there are no sanctions if firms do not meet their obligations from receiving aid, such as creating a certain number of jobs or not relocating again for a certain amount of time. The separation of ownership and control in modern corporations leads to principal-agent problems on the side of the aid recipient as well. Managers might receive personal benefits from subsidies, the use of which is sometimes less monitored than private finance. This can eventually be to the detriment of the shareholders. Overall, it can be concluded that state aid control should also serve the purpose of regulating the contracting between governments and firms. An extended mandate for supervision by the European Commission could include requirements to disincentive the misuse of state aid. The Commission should also focus on the corporate governance regime in place in the jurisdiction that awards the aid as well as in the recipient firm.

Study of the inter-annual variability of particle vertical fluxes in two moorings in the Ross Sea (Antarctica)

The most ocean - atmosphere exchanges take place in polar environments due to the low temperatures which favor the absorption processes of atmospheric gases, in particular CO2. For this reason, the alterations of biogeochemical cycles in these areas can have a strong impact on the global climate. With the aim of contributing to the definition of the mechanisms regulating the biogeochemical fluxes we have analyzed the particles collected in the Ross Sea in different years (ROSSMIZE, BIOSESO 1 and 2, ROAVERRS and ABIOCLEAR projects) in two sites (mooring A and B). So it has been developed a more efficient method to prepare sediment trap samples for the analyses. We have also processed satellite data of sea ice, chlorophyll a and diatoms concentration. At both sites, in each year considered, there was a high seasonal and inter-annual variability of biogeochemical fluxes closely correlated with sea ice cover and primary productivity. The comparison between the samples collected at mooring A and B in 2008 highlighted the main differences between these two sites. Particle fluxes at Mooring A, located in a polynia area, are higher than mooring B ones and they happen about a month before. In the mooring B area it has been possible to correlate the particles fluxes to the ice concentration anomalies and with the atmospheric changes in response to El Niño Southern Oscillations. In 1996 and 1999, years subjected to La Niña, the concentrations of sea ice in this area have been less than in 1998, year subjected to El Niño. Inverse correlation was found for 2005 and 2008. In the mooring A area significant differences in mass and biogenic fluxes during 2005 and 2008 has been recorded. This allowed to underline the high variability of lateral advection processes and to connect them to the physical forcing.

Studio dei semiochimici coinvolti nelle interazioni intra- e inter-specifiche in Gonocerus acuteangulatus (Goeze) (Heteroptera: Coreidae) in vista di un loro impiego nella difesa del nocciolo.

Gonocerus acuteangulatus (Hemiptera: Coreidae) è considerato uno dei principali fitofagi del nocciolo, in grado di causare con l’attività trofica pesanti perdite quali-quantitative di produzione. Nel triennio sono state quindi condotte indagini sulla bioetologia di G. acuteangulatus volte a: I) studiare comportamento alimentare ed effetti sulla produzione corilicola, II) identificare i feromoni e valutarne l’attività mediante biosaggi fisiologici e comportamentali in laboratorio, semi-campo e campo, III) rilevare le piante ospiti alternative al nocciolo. Mediante isolamento di adulti del coreide su rami di nocciolo con frutti è stata confermata l’assenza di correlazione fra entità del danno e numerosità degli individui presenti in corileto. Dalle analisi sensoriali su nocciole sane e danneggiate è emerso che le alterazioni causate delle punture di nutrizione sono rese più evidenti da conservazione e tostatura. Variazioni di tempi e temperature di tostatura potrebbero mitigare gli effetti del cimiciato. Nello studio dei feromoni, G. acuteangulatus, molto mobile nell’ambiente, è risultato poco adatto ai biosaggi in condizioni artificiali, come quelle in olfattometro e semi-campo. Le femmine sono tuttavia apparse attrattive per adulti di entrambi i sessi, mentre la miscela feromonale sintetizzata ha mostrato un’azione attrattiva, seppure non costante. Pertanto, ulteriori ripetizioni sono necessarie per convalidare questi risultati preliminari, modificando le condizioni di saggio in relazione alle caratteristiche della specie. Infine è stata accertata la preferenza del fitofago per alcune specie vegetali rispetto al nocciolo. Nel corso del triennio, popolazioni molto consistenti di G. acuteangulatus sono state rilevate su bosso, ciliegio di Santa Lucia, rosa selvatica, sanguinello, spino cervino, in corrispondenza del periodo di comparsa e maturazione dei frutti. Nell’impostazione di una strategia di difesa a basso impatto ambientale, l’attrattività di queste piante, in sinergia con eventuali feromoni di aggregazione, potrebbe essere utilmente sfruttata, per mantenere il coreide lontano dalla coltura.