Ricerc@Sapienza

We investigate the application of natural hedging strategies for long-term care
(LTC) insurers by diversifying both longevity and disability risks affecting LTC
annuities. We propose two approaches to natural hedging: one built on a multivariate
duration, the other on the Conditional Value-at-Risk minimization of
the unexpected loss. Both the approaches are extended to the LTC insurance
using a multiple state framework. In order to represent the future evolution of
mortality and disability transition probabilities, we use the stochastic model of

This study is the first to employ configurational analysis to investigate combinations of ESG pillars that lead firms to achieve higher levels of marketing performance. In this pioneering approach, using a fuzzy-set qualitative comparative analysis (fs-QCA) and data from the largest European listed companies belonging to the pharmaceutical industry in the year 2019, our results identify two different causal configurations that lead to higher marketing performance.

Our paper derives and estimates a New Keynesian wage Phillips curve that accounts for intrinsic inertia. Our approach considers a wage-setting model featuring an upward-sloping hazard function, that is based on the notion that the probability of resetting a wage depends on the time elapsed since the last reset. According to our specification, we obtain a wage Phillips curve that also includes backward-looking terms, which account for persistence. We test the slope of the hazard function using GMM estimation.

We propose to investigate the relationship between corporate social responsibility disclosure and institutional/environmental factors among a sample of European listed companies. We find that, by using several traditional explicative variables, institutional factors affect the level of CSR disclosure, in a context where the EU Commission has been paying growing attention to social and environmental accountability of listed companies (see the EU Dir. 95/2014).

Purpose - The purpose of this paper is to propose a new statistical approach to evaluate complex open innovation projects on a quantitative basis. In certain circumstances, open innovation entails a radical change of policy that involves various different functions of a company such as R&D, production, and management over a period of years and gives rise to mechanisms of mutual interaction with several business partners, such as collaboration with other companies, universities and R&D institutions, and new suppliers.

Studies on gender accounting are quite recent. Drawing upon criticism of dominant economic theories as developed within Feminist Economics, this paper aims to provide an original contribution to studies on gender accounting by establishing whether the (male) assumptions of the theory of the enterprise can be submitted to critical revision. As a foray into a field of research that we intend to further explore in the future, this paper focuses on the work of Italian women scholars Isa Marchini and Rosella Ferraris Franceschi.

business systems, product innovation, process innovation, sociability, CSR, corporate social responsibility, self-financing, social reporting, social balance sheet, literature review, firm performance, private equity investment, sustainability, green issues