Exploring Perceived Employability of University Students and Graduates

Employability represents a critical resource for new entrants in the labour market to deal with fragile employment prospects and have a psychologically sustainable transition to work. Although research has devoted remarkable attention to Employability in Higher Education, more empirical research is needed to investigate it. This dissertation aimed to deepen the understanding of Employability among Italian university students and graduates, focusing on Perceived Employability, considered a personal resource within the Conservation of Resources Theory. Three studies conducted with students and graduates who completed an online questionnaire investigated some underexplored aspects of Perceveid Employability. Study 1—a two-wave time-lagged study with 223 students—tested whether Support from Teaching staff and Career Engagement influence Perceived Employability. Study 2—a three-wave time-lagged study with 158 students and graduates— tests whether Job Interview Self-efficacy predicts Perceived Employability and whether Career Identity predicts this relationship. Studies 1 and 2 investigate Perceived Employability psychological outcomes, namely Confidence in Career future and Psychological Well-being. In both studies, a mediating role of Perceived Employability connecting its antecedents and consequences is posited. Study 3—a three-wave longitudinal study with 376 students and graduates—tested the reciprocal relationships between Perceived Employability and Psychological well-being. The data confirmed the expected relationships, providing a noteworthy theoretical contribution. Studies 1 and 2 expand the knowledge of Perceived Employability antecedents, stressing contextual and career self-management factors. Moreover, Perceived Employability also appears to have a positive psychological impact, confirming its benefits for new entrants. Study 3 shows that Perceived Employability and Psychological well-being influence each other over time, providing novel insights into Perceived Employability. At a practical level, the results inform actions to foster Perceived Employability in Higher Education, to help new entrants manage the transition to work and experience benefits at a psychological level, in coherence with the need for a psychologically sustainable transition.

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.

Legislazione della crisi e rinvio al contratto collettivo

La tesi analizza il mutamento in atto nelle fonti del diritto del lavoro, attraverso uno studio dei casi di rinvio dalla legge al contratto collettivo. Nella Parte I della tesi è affrontato il tema dei rapporti tra legge e contratto collettivo. In una prospettiva statica, i rapporti tra legge e contratto collettivo sono caratterizzati dall’operare dei principii di gerarchia e del favor: la legge prevede il trattamento minimo di tutela e il contratto collettivo può modificare tale trattamento in senso più favorevole al lavoratore. In una prospettiva dinamica, i rapporti tra legge e contratto collettivo sono più complessi: nell’ordinamento italiano, infatti, la disciplina del rapporto e del mercato del lavoro è caratterizzata da una valorizzazione degli apporti dell’autonomia collettiva. In particolare, il contratto collettivo è destinatario di una serie di rinvii, che lo autorizzano a completare la disciplina legale e a modificarla anche in senso meno favorevole al lavoratore, al fine di creare un mercato del lavoro maggiormente dinamico. Nella Parte II della tesi l’analisi si concentra sull’art. 8 della l. n. 148/2011. Tale disposizione è stata introdotta durante la crisi economico-finanziaria che ha colpito l’Italia tra il 2011 e il 2012, a seguito di trattative tra il Governo italiano e le istituzioni dell’UE, al fine di attribuire alle imprese uno strumento per incrementare la loro competitività e produttività. L’art. 8 autorizza il contratto collettivo a derogare in peius alla legge con riferimento a un arco tematico di materie e istituti che comprende l’intero profilo della disciplina del rapporto di lavoro, con alcune eccezioni. L’art. 8 rappresenta il punto di arrivo di una lunga evoluzione legislativa e consente di mettere in discussione la ricostruzione tradizionale dei rapporti tra legge e contratto collettivo basata sui principii di gerarchia e di favore.