Knowledge Flows and Networks: the Interplay between Local and Global Linkages within Bangalore IT Cluster

This doctoral work gains deeper insight into the dynamics of knowledge flows within and across clusters, unfolding their features, directions and strategic implications. Alliances, networks and personnel mobility are acknowledged as the three main channels of inter-firm knowledge flows, thus offering three heterogeneous measures to analyze the phenomenon. The interplay between the three channels and the richness of available research methods, has allowed for the elaboration of three different papers and perspectives. The common empirical setting is the IT cluster in Bangalore, for its distinguished features as a high-tech cluster and for its steady yearly two-digit growth around the service-based business model. The first paper deploys both a firm-level and a tie-level analysis, exploring the cases of 4 domestic companies and of 2 MNCs active the cluster, according to a cluster-based perspective. The distinction between business-domain knowledge and technical knowledge emerges from the qualitative evidence, further confirmed by quantitative analyses at tie-level. At firm-level, the specialization degree seems to be influencing the kind of knowledge shared, while at tie-level both the frequency of interaction and the governance mode prove to determine differences in the distribution of knowledge flows. The second paper zooms out and considers the inter-firm networks; particularly focusing on the role of cluster boundary, internal and external networks are analyzed, in their size, long-term orientation and exploration degree. The research method is purely qualitative and allows for the observation of the evolving strategic role of internal network: from exploitation-based to exploration-based. Moreover, a causal pattern is emphasized, linking the evolution and features of the external network to the evolution and features of internal network. The final paper addresses the softer and more micro-level side of knowledge flows: personnel mobility. A social capital perspective is here developed, which considers both employees’ acquisition and employees’ loss as building inter-firm ties, thus enhancing company’s overall social capital. Negative binomial regression analyses at dyad-level test the significant impact of cluster affiliation (cluster firms vs non-cluster firms), industry affiliation (IT firms vs non-IT fims) and foreign affiliation (MNCs vs domestic firms) in shaping the uneven distribution of personnel mobility, and thus of knowledge flows, among companies.

Gold and the Stock Market: 3 Essays on Gold Investments

This thesis gives an overview of the history of gold per se, of gold as an investment good and offers some institutional details about gold and other precious metal markets. The goal of this study is to investigate the role of gold as a store of value and hedge against negative market movements in turbulent times. I investigate gold’s ability to act as a safe haven during periods of financial stress by employing instrumental variable techniques that allow for time varying conditional covariance. I find broad evidence supporting the view that gold acts as an anchor of stability during market downturns. During periods of high uncertainty and low stock market returns, gold tends to have higher than average excess returns. The effectiveness of gold as a safe haven is enhanced during periods of extreme crises: the largest peaks are observed during the global financial crises of 2007-2009 and, in particular, during the Lehman default (October 2008). A further goal of this thesis is to investigate whether gold provides protection from tail risk. I address the issue of asymmetric precious metal behavior conditioned to stock market performance and provide empirical evidence about the contribution of gold to a portfolio’s systematic skewness and kurtosis. I find that gold has positive coskewness with the market portfolio when the market is skewed to the left. Moreover, gold shows low cokurtosis with the market returns during volatile periods. I therefore show that gold is a desirable investment good to risk averse investors, since it tends to decrease the probability of experiencing extreme bad outcomes, and the magnitude of losses in case such events occur. Gold thus bears very important and under-researched characteristics as an asset class per se, which this thesis contributed to address and unveil.

Kinematics of local and high-z galaxies through 3D modeling of emission-line datacubes

The kinematics is a fundamental tool to infer the dynamical structure of galaxies and to understand their formation and evolution. Spectroscopic observations of gas emission lines are often used to derive rotation curves and velocity dispersions. It is however difficult to disentangle these two quantities in low spatial-resolution data because of beam smearing. In this thesis, we present 3D-Barolo, a new software to derive the gas kinematics of disk galaxies from emission-line data-cubes. The code builds tilted-ring models in the 3D observational space and compares them with the actual data-cubes. 3D-Barolo works with data at a wide range of spatial resolutions without being affected by instrumental biases. We use 3D-Barolo to derive rotation curves and velocity dispersions of several galaxies in both the local and the high-redshift Universe. We run our code on HI observations of nearby galaxies and we compare our results with 2D traditional approaches. We show that a 3D approach to the derivation of the gas kinematics has to be preferred to a 2D approach whenever a galaxy is resolved with less than about 20 elements across the disk. We moreover analyze a sample of galaxies at z~1, observed in the H-alpha line with the KMOS/VLT spectrograph. Our 3D modeling reveals that the kinematics of these high-z systems is comparable to that of local disk galaxies, with steeply-rising rotation curves followed by a flat part and H-alpha velocity dispersions of 15-40 km/s over the whole disks. This evidence suggests that disk galaxies were already fully settled about 7-8 billion years ago. In summary, 3D-Barolo is a powerful and robust tool to separate physical and instrumental effects and to derive a reliable kinematics. The analysis of large samples of galaxies at different redshifts with 3D-Barolo will provide new insights on how galaxies assemble and evolve throughout cosmic time.

Minori rumeni tra percorsi migratori e rappresentazioni. Nè soli, nè accompagnati a Bologna

The thesis deals with the heterogenous category of the “unaccompanied minors”, concentrating the scientific work on those who migrate from Romania to the Italian city of Bologna. Between different migratory routes that include Romanian minors, I chose to explore the ones linked with the underground and illegal contexts. In order to analyse the reasons and the morphology of their migratory career, I used the multisituated field research which allowed me to consider the social policies in both the Romanian and the Italian environment. The main debate on the situation of the “unaccompanied children” refers to the extent to which these minors leave their country of origin “accompanied” by different adult figures and it also involves the role played by these adults. The first chapter is dedicated to a brief theoretical and methodological introduction to the main arguments of the thesis such as Romanian migration to Italy, trafficking in human beings, transnationality of migrant’s migration and decentered cooperation as a means of contrasting illegal migration and trafficking. Each field of research is characterized by a specific methodological approach, but they are all linked by the anthropological perspective I adopted throughout the entire work. The Romanian context, analized from a diachronic and a synchronic perspective represents the object of the second chapter. Some aspects of the Regime policies and other characteristics of the Romanian poscomunist period of “transition” are useful frameworks that become a background of the migration flows outside the country. The third chapter focuses on the Romanian patterns of migration. The reconstruction of some past attitudes that Romanians adopted towards migration are relevant in order to reveal the continuity with the present migratory practices. A consistent part is dedicated to a concrete example based on a field research in Bologna on a group of Romanian roma migrating from the south of Romania. The contact with these persons opened a debate on the limits between legal and illegal migration practices among the Romanians. The conclusion is that minors’ migration to Italy follows the adult patterns and flows. The nucleus of the field researches is included in the fourth and the fifth chapter. Before presenting the settings and the itineraries of the field researches, some deconstructive reflections are made on the representations that common sense and social sciences create on concepts as “child”, “minor” and “childhood”. A first perspective on the Romanian migrant minors emerges from a research concentrated on a group of roma teenagers engaged in Bologna in activities like windscreen washing, pocket-picking, begging and street prostitution. The aim of the research was to gain access to their daily life, to observe their relationship with the adults who “accompany” them and the strategies they activate in order to take some material profit out of their migratory experience. A parallel field research focuses on the Romanian minors who are part of the roma group coming from the south of Romania. Most of them are reunited with their family in Bologna, but according to the Italian law, they are all living as illegal migrants. Others are only temporary sheltered by these families and they meanwhile dedicate to illegal survviving practices. An interesting point of my participant observation was to reveal the motivations that these minors give when asked about the refusal to start a legal career inside the local Centres dedicated to the “non accompanied minors”. Their autoreflexivity brings some light on the controversy regarding the adequacy of the local and national care system and the migratory projects the minors have. In this respect, a small part of the research is dedicated to the phenomena of minors’ street prostitution in Bologna, as a useful contribution to the fragmented vision researchers have on the “unaccompanied” or “separated” children. The last chapter focuses on a decentered cooperation project that emerged as an alternative response the local administration from Bologna had chosen for facing the presence of numerous migrants coming from the south of Romania. The group of Romanian roma who was also the object of my field research became the starting point for the cooperation proposals between the city of Bologna and the city of Craiova. Although there are three projects involving the two administrations, throughout a period of stage in the Romanian city of Craiova I chose to analyse, only the one dedicated to the “urgent measures” requested in order to contrast the illegal migration and the trafficking in minors. This final part of the thesis highlightens the possible contribution that such a project might bring to the study of a complex and in some parts contradictory phenomena as that of the “unaccompanied” migrant minors.

Calcolo della posizione di reti di stazioni permanenti

Con il trascorrere del tempo, le reti di stazioni permanenti GNSS (Global Navigation Satellite System) divengono sempre più un valido supporto alle tecniche di rilevamento satellitare. Esse sono al tempo stesso un’efficace materializzazione del sistema di riferimento e un utile ausilio ad applicazioni di rilevamento topografico e di monitoraggio per il controllo di deformazioni. Alle ormai classiche applicazioni statiche in post-processamento, si affiancano le misure in tempo reale sempre più utilizzate e richieste dall’utenza professionale. In tutti i casi risulta molto importante la determinazione di coordinate precise per le stazioni permanenti, al punto che si è deciso di effettuarla tramite differenti ambienti di calcolo. Sono stati confrontati il Bernese, il Gamit (che condividono l’approccio differenziato) e il Gipsy (che utilizza l’approccio indifferenziato). L’uso di tre software ha reso indispensabile l’individuazione di una strategia di calcolo comune in grado di garantire che, i dati ancillari e i parametri fisici adottati, non costituiscano fonte di diversificazione tra le soluzioni ottenute. L’analisi di reti di dimensioni nazionali oppure di reti locali per lunghi intervalli di tempo, comporta il processamento di migliaia se non decine di migliaia di file; a ciò si aggiunge che, talora a causa di banali errori, oppure al fine di elaborare test scientifici, spesso risulta necessario reiterare le elaborazioni. Molte risorse sono quindi state investite nella messa a punto di procedure automatiche finalizzate, da un lato alla preparazione degli archivi e dall’altro all’analisi dei risultati e al loro confronto qualora si sia in possesso di più soluzioni. Dette procedure sono state sviluppate elaborando i dataset più significativi messi a disposizione del DISTART (Dipartimento di Ingegneria delle Strutture, dei Trasporti, delle Acque, del Rilevamento del Territorio - Università di Bologna). E’ stato così possibile, al tempo stesso, calcolare la posizione delle stazioni permanenti di alcune importanti reti locali e nazionali e confrontare taluni fra i più importanti codici scientifici che assolvono a tale funzione. Per quanto attiene il confronto fra i diversi software si è verificato che: • le soluzioni ottenute dal Bernese e da Gamit (i due software differenziati) sono sempre in perfetto accordo; • le soluzioni Gipsy (che utilizza il metodo indifferenziato) risultano, quasi sempre, leggermente più disperse rispetto a quelle degli altri software e mostrano talvolta delle apprezzabili differenze numeriche rispetto alle altre soluzioni, soprattutto per quanto attiene la coordinata Est; le differenze sono però contenute in pochi millimetri e le rette che descrivono i trend sono comunque praticamente parallele a quelle degli altri due codici; • il citato bias in Est tra Gipsy e le soluzioni differenziate, è più evidente in presenza di determinate combinazioni Antenna/Radome e sembra essere legato all’uso delle calibrazioni assolute da parte dei diversi software. E’ necessario altresì considerare che Gipsy è sensibilmente più veloce dei codici differenziati e soprattutto che, con la procedura indifferenziata, il file di ciascuna stazione di ciascun giorno, viene elaborato indipendentemente dagli altri, con evidente maggior elasticità di gestione: se si individua un errore strumentale su di una singola stazione o se si decide di aggiungere o togliere una stazione dalla rete, non risulta necessario il ricalcolo dell’intera rete. Insieme alle altre reti è stato possibile analizzare la Rete Dinamica Nazionale (RDN), non solo i 28 giorni che hanno dato luogo alla sua prima definizione, bensì anche ulteriori quattro intervalli temporali di 28 giorni, intercalati di sei mesi e che coprono quindi un intervallo temporale complessivo pari a due anni. Si è così potuto verificare che la RDN può essere utilizzata per l’inserimento in ITRF05 (International Terrestrial Reference Frame) di una qualsiasi rete regionale italiana nonostante l’intervallo temporale ancora limitato. Da un lato sono state stimate le velocità ITRF (puramente indicative e non ufficiali) delle stazioni RDN e, dall’altro, è stata effettuata una prova di inquadramento di una rete regionale in ITRF, tramite RDN, e si è verificato che non si hanno differenze apprezzabili rispetto all’inquadramento in ITRF, tramite un congruo numero di stazioni IGS/EUREF (International GNSS Service / European REference Frame, SubCommission for Europe dello International Association of Geodesy).

Consumer Perception and Willingness to Pay for Local Food

A growing number of empirical studies recently investigated consumers' valuation for local food products. However, different aspects related to the local food consumption still remain vague or unexplored. As such, the objective of the present research is to fulfill the existing literature using a mixed methodological approach for the investigation of consumers' preferences and Willingness to Pay (WTP) for local food products. First of all, local food is still a blurred concept and this factor might be source of individuals' misperception for the local origin meaning. Therefore, a qualitative research has been performed in order to investigate the meaning and the perception of the local food in the Italian food market. Results from this analysis have been used as inputs for the building of a non-hypothetical Real Choice Experiment (RCE) to estimate consumers' WTP for locally and organically produced apple sauce. The contribution of this study is three-fold: (1) consumers' valuation for the local origin is interpreted in terms of regional borders, over the organic food claim in case of an unusual food product in the area of interest, (2) the interaction between individuals' personality traits and consumers’ preferences for local and organic foods is analyzed, (3) the role of Commitment Cost creation in consumers' choice making in case of uncertainty due to the use of a novel food product and of an unconventional food claim is investigated. Results suggest that consumers are willing to pay a higher price premium for organic over locally produced apple sauce, possibly because of the presence of a regulated certification. In accordance with Commitment Cost theory, the organic label might thus decrease consumers' uncertainty for the features of the product in question. Results also indicate that individuals' personality can be source of heterogeneity in consumers' preferences.

Ethnicity and cross-border lending: evidence from the syndicated loan market.

Whilst the connection between culture and financial intermediation across countries has received considerable attention, there is scant work on the role of local ethnicity in bank lending operations. To fill this void, we lean on the sociology literature to scrutinize the impact of local ethnicity characteristics on syndicated loan composition and size in cross-border lending. We specifically examine whether local demographics in the U.S. for a specific bank impact their contracting in the international syndicated loan market. Exploiting Gravity Models, we find a higher likelihood of syndication and volume in cross-border loans when there is overlap in local and foreign market ethnicity. To alleviate endogeneity concerns between ethnicity and bank lending, we conduct robustness tests on different sub-samples. This analysis reports a significant uptick in cross-border loans for merging banks which share ethnicity in their neighbourhood (or zip). Moreover, these loans are associated with lower spreads than other matched cross-border loans, which can be explained by lower asymmetric information.

Design and control techniques of optical networks

The world of communication has changed quickly in the last decade resulting in the the rapid increase in the pace of peoples’ lives. This is due to the explosion of mobile communication and the internet which has now reached all levels of society. With such pressure for access to communication there is increased demand for bandwidth. Photonic technology is the right solution for high speed networks that have to supply wide bandwidth to new communication service providers. In particular this Ph.D. dissertation deals with DWDM optical packet-switched networks. The issue introduces a huge quantity of problems from physical layer up to transport layer. Here this subject is tackled from the network level perspective. The long term solution represented by optical packet switching has been fully explored in this years together with the Network Research Group at the department of Electronics, Computer Science and System of the University of Bologna. Some national as well as international projects supported this research like the Network of Excellence (NoE) e-Photon/ONe, funded by the European Commission in the Sixth Framework Programme and INTREPIDO project (End-to-end Traffic Engineering and Protection for IP over DWDM Optical Networks) funded by the Italian Ministry of Education, University and Scientific Research. Optical packet switching for DWDM networks is studied at single node level as well as at network level. In particular the techniques discussed are thought to be implemented for a long-haul transport network that connects local and metropolitan networks around the world. The main issues faced are contention resolution in a asynchronous variable packet length environment, adaptive routing, wavelength conversion and node architecture. Characteristics that a network must assure as quality of service and resilience are also explored at both node and network level. Results are mainly evaluated via simulation and through analysis.

Iva e Pubblica Autorità: coerenza del sistema e dimensioni nazionali

Il sistema comune europeo dell’imposta sul valore aggiunto privilegia caratteri e finalità economiche nel definire chi siano gli operatori economici soggetti all’IVA. Una disciplina particolare è, tuttavia, prevista per i soggetti di diritto pubblico che, oltre alla principale attività istituzionale, esercitano un’attività di carattere economico. Ai sensi dell’articolo 13 della Direttiva del 28 novembre 2006, 2006/112/CE, gli Stati, le Regioni, le Province, i Comuni e gli altri enti di diritto pubblico, in relazione alle attività ed operazioni che essi effettuano in quanto pubbliche autorità, non sono considerati soggetti passivi IVA anche se in relazione ad esse percepiscono diritti, canoni, contributi o retribuzioni. La vigente disciplina europea delle attività economiche esercitate dagli enti pubblici, oltre che inadeguata al contesto economico attuale, rischia di diventare un fattore che influenza negativamente l’efficacia del modello impositivo dell’IVA e l’agire degli enti pubblici. La tesi propone un modello alternativo che prevede l’inversione dell’impostazione attuale della Direttiva IVA al fine di considerare, di regola, soggetti passivi IVA gli organismi pubblici che svolgono - ancorché nella veste di pubblica autorità - attività oggettivamente economiche.

Essays in Industrial Organization and Information Technology

Chapter 1 studies how consumers’ switching costs affect the pricing and profits of firms competing in two-sided markets such as Apple and Google in the smartphone market. When two-sided markets are dynamic – rather than merely static – I show that switching costs lower the first-period price if network externalities are strong, which is in contrast to what has been found in one-sided markets. By contrast, switching costs soften price competition in the initial period if network externalities are weak and consumers are more patient than the platforms. Moreover, an increase in switching costs on one side decreases the first-period price on the other side. Chapter 2 examines firms’ incentives to invest in local and flexible resources when demand is uncertain and correlated. I find that market power of the monopolist providing flexible resources distorts investment incentives, while competition mitigates them. The extent of improvement depends critically on demand correlation and the cost of capacity: under social optimum and monopoly, if the flexible resource is cheap, the relationship between investment and correlation is positive, and if it is costly, the relationship becomes negative; under duopoly, the relationship is positive. The analysis also sheds light on some policy discussions in markets such as cloud computing. Chapter 3 develops a theory of sequential investments in cybersecurity. The regulator can use safety standards and liability rules to increase security. I show that the joint use of an optimal standard and a full liability rule leads to underinvestment ex ante and overinvestment ex post. Instead, switching to a partial liability rule can correct the inefficiencies. This suggests that to improve security, the regulator should encourage not only firms, but also consumers to invest in security.