Antecedents and consequences of individual flexibility in project-based organizations

In the last decades, the increasing significance of “projectivization” (Lundin & Steinthórsson, 2003) has stimulated considerable interest in project-based organizations as new economic actors able to introduce a new logic of organizing work and weakening boundaries in favour of networks of collaborations. In these contexts, work is often delegated to project teams. Deciding whom to put on a project team is one of the biggest challenges faced by a project manager; in particular which characteristics rely on to compose and match effective teams. We address this issue, focusing on the individual flexibility (Raudsepp, 1990), as team composition variable that affects project team performance. Thus, the research question investigated is: Is it better to compose project teams with flexible team members or not flexible project team members to achieve higher levels of project performance? The temporary nature of PBOs involves that after achieving the purpose for which team members are enrolled, they are disbanded but their relationships remain, allowing them to be involved in future projects (Starkey, Barnatt & Tempest, 2000). Pre-existing relationships together with the current relationships create a network of relationships that yields some implications for project teams as well as for team members. We address this issue, exploring the following research question: To what extent is the individual flexibility influenced by the network structure? The conceptual framework is used to articulate the research questions investigated with respect to the Television drama serials production. Their project-team organizing combined with their capacity to dissolve and recreate over time make it an interesting field to develop. We contribute to the organizational literature, providing a clear operationalization of individual flexibility construct and its role on affecting project performance. Second, we contribute to the organizational network literature addressing the effects yielded by the network structure-structural holes and network closure- on the individual flexibility.

Computational strategies to include protein flexibility in Ligand Docking and Virtual Screening

The dynamic character of proteins strongly influences biomolecular recognition mechanisms. With the development of the main models of ligand recognition (lock-and-key, induced fit, conformational selection theories), the role of protein plasticity has become increasingly relevant. In particular, major structural changes concerning large deviations of protein backbones, and slight movements such as side chain rotations are now carefully considered in drug discovery and development. It is of great interest to identify multiple protein conformations as preliminary step in a screening campaign. Protein flexibility has been widely investigated, in terms of both local and global motions, in two diverse biological systems. On one side, Replica Exchange Molecular Dynamics has been exploited as enhanced sampling method to collect multiple conformations of Lactate Dehydrogenase A (LDHA), an emerging anticancer target. The aim of this project was the development of an Ensemble-based Virtual Screening protocol, in order to find novel potent inhibitors. On the other side, a preliminary study concerning the local flexibility of Opioid Receptors has been carried out through ALiBERO approach, an iterative method based on Elastic Network-Normal Mode Analysis and Monte Carlo sampling. Comparison of the Virtual Screening performances by using single or multiple conformations confirmed that the inclusion of protein flexibility in screening protocols has a positive effect on the probability to early recognize novel or known active compounds.

Flexibility and firm value: the role of inventories

In the present thesis I study the contribution to firm value of inventories management from a risk management perspective. I find a significant contribution of inventories to the value of risk management especially through the operating flexibility channel. In contrast, I do not find evidence supporting the view of inventories a reserve of liquidity. Inventories substitute, albeit not perfectly, derivatives or cash holdings. The substitution between hedging with derivatives and inventory is moderated by the correlation between cash flow and the underlying asset in the derivative contract. Hedge ratios increase with the effectiveness of derivatives. The decision to hedge with cash holdings or inventories is strongly influenced by the degree of complementarity between production factors and by cash flow volatility. In addition, I provide a risk management based explanation of the secular substitution between inventories and cash holdings documented, among others, in Bates et al. (2009), Journal of Finance. In a sample of U.S. firms between 1980 and 2006, I empirically confirm the negative relation between inventories and cash and provide evidence on the poor performance of investment cash flow sensitivities as a measure of financial constraints also in the case of inventories investment. This result can be explained by firms' scarce reliance on inventories as a reserve of liquidity. Finally, as an extension of my study, I contrast with empirical data the theoretical predictions of a model on the integrated management of inventories, trade credit and cash holdings.