Domanda e tariffe nel settore idrico italiano, 2007
... Drusiani R. (2006), Il mercato dei servizi idrici alla ricerca di Mecenate, Management delle... more ... Drusiani R. (2006), Il mercato dei servizi idrici alla ricerca di Mecenate, Management delleUtilities, 4(1), 38-42. Hewitt JA e Hanemann. WM (1995) A discrete/continuous choice model of demand under block rate pricing, Land Economics 7, 173-192. ...
This paper analyses the determinants of board compensation of a sample of Italian public utilitie... more This paper analyses the determinants of board compensation of a sample of Italian public utilities. We use a newly collected panel of 114 firms including data on their board of directors during 1994-2004. During this period, the deregulation process inspired institutional interventions that forced utilities, traditionally owned by local municipalities and state bodies, to change their juridical form and ownership structure, in order to facilitate the entrance of private investors. The corporate governance literature shows that such changes may exacerbate the agency conflicts between shareholders and (managers and between shareholders and) board. However, board compensation could reduce the agency costs by aligning the shareholders’ interests with the (managers’ and) board’s ones. This paper addresses this issue by investigating the determinants of board compensation in terms of board composition, firm characteristics and performance. We find that board compensation is negatively rel...
The advent of the digital age seems to have displaced brick-and-mortar travel agencies. This impl... more The advent of the digital age seems to have displaced brick-and-mortar travel agencies. This implies that to be competitive, traditional travel agencies must reconfigure their business processes. Using the resource-based view as a theoretical paradigm predicting performance differentials, this article investigates the impact of dynamic capabilities on operational capabilities, and the way network resources, generally deriving from interfirm connections, moderate this relationship. The empirical research design uses a two-stage Data Envelopment Analysis approach on a sample of traditional travel agencies. The findings, corroborated by a subsequent qualitative analysis, suggest that the dynamic capabilities unfolding from shifting the business processes from the outgoing to the incoming market segment, and from retailing to packaging tourism products, boost the competitiveness of brick-and-mortar travel agencies. However, while network resources positively support the shift from outgo...
The gas distribution in Italy is nowadays subjected to a deep process of deregulation, aimed to s... more The gas distribution in Italy is nowadays subjected to a deep process of deregulation, aimed to strengthen the competitive rules. In the same time, this industry is undergoing intensive regulation constraints, particularly in the definition of service prices. The mentioned deregulation process is considered to impact positively both on profitability and productivity growth. The present study is aimed to verify
Le potenzialita delle attivita turistiche nel conseguire obiettivi di preservazione e conservazio... more Le potenzialita delle attivita turistiche nel conseguire obiettivi di preservazione e conservazione ambien- tale sono state ampiamente riconosciute. Gli eventi sono frequentemente identificati nei piani per lo svilup- po di destinazioni turistiche e promossi come un'attrattiva per le attivita ricreative dei visitatori. I festival e gli eventi possono essere considerati un mezzo per il conseguimento di obiettivi di sviluppo sostenibile, quando traguardi sociali, economici e ambientali sono inclusi nei programmi politici e tradotti in concrete operazioni.
This paper proposes an empirical study of the Italian gas distribution industry by means of long-... more This paper proposes an empirical study of the Italian gas distribution industry by means of long-term cost function. The analysis highlights the fact that the number of customers is more important than the amount of gas delivered in explaining the variability of distribution costs. Very low economies of scale, high economies of density, and the significant role of the morphologic
Domanda e tariffe nel settore idrico italiano, 2007
... Drusiani R. (2006), Il mercato dei servizi idrici alla ricerca di Mecenate, Management delle... more ... Drusiani R. (2006), Il mercato dei servizi idrici alla ricerca di Mecenate, Management delleUtilities, 4(1), 38-42. Hewitt JA e Hanemann. WM (1995) A discrete/continuous choice model of demand under block rate pricing, Land Economics 7, 173-192. ...
This paper analyses the determinants of board compensation of a sample of Italian public utilitie... more This paper analyses the determinants of board compensation of a sample of Italian public utilities. We use a newly collected panel of 114 firms including data on their board of directors during 1994-2004. During this period, the deregulation process inspired institutional interventions that forced utilities, traditionally owned by local municipalities and state bodies, to change their juridical form and ownership structure, in order to facilitate the entrance of private investors. The corporate governance literature shows that such changes may exacerbate the agency conflicts between shareholders and (managers and between shareholders and) board. However, board compensation could reduce the agency costs by aligning the shareholders’ interests with the (managers’ and) board’s ones. This paper addresses this issue by investigating the determinants of board compensation in terms of board composition, firm characteristics and performance. We find that board compensation is negatively rel...
The advent of the digital age seems to have displaced brick-and-mortar travel agencies. This impl... more The advent of the digital age seems to have displaced brick-and-mortar travel agencies. This implies that to be competitive, traditional travel agencies must reconfigure their business processes. Using the resource-based view as a theoretical paradigm predicting performance differentials, this article investigates the impact of dynamic capabilities on operational capabilities, and the way network resources, generally deriving from interfirm connections, moderate this relationship. The empirical research design uses a two-stage Data Envelopment Analysis approach on a sample of traditional travel agencies. The findings, corroborated by a subsequent qualitative analysis, suggest that the dynamic capabilities unfolding from shifting the business processes from the outgoing to the incoming market segment, and from retailing to packaging tourism products, boost the competitiveness of brick-and-mortar travel agencies. However, while network resources positively support the shift from outgo...
The gas distribution in Italy is nowadays subjected to a deep process of deregulation, aimed to s... more The gas distribution in Italy is nowadays subjected to a deep process of deregulation, aimed to strengthen the competitive rules. In the same time, this industry is undergoing intensive regulation constraints, particularly in the definition of service prices. The mentioned deregulation process is considered to impact positively both on profitability and productivity growth. The present study is aimed to verify
Le potenzialita delle attivita turistiche nel conseguire obiettivi di preservazione e conservazio... more Le potenzialita delle attivita turistiche nel conseguire obiettivi di preservazione e conservazione ambien- tale sono state ampiamente riconosciute. Gli eventi sono frequentemente identificati nei piani per lo svilup- po di destinazioni turistiche e promossi come un'attrattiva per le attivita ricreative dei visitatori. I festival e gli eventi possono essere considerati un mezzo per il conseguimento di obiettivi di sviluppo sostenibile, quando traguardi sociali, economici e ambientali sono inclusi nei programmi politici e tradotti in concrete operazioni.
This paper proposes an empirical study of the Italian gas distribution industry by means of long-... more This paper proposes an empirical study of the Italian gas distribution industry by means of long-term cost function. The analysis highlights the fact that the number of customers is more important than the amount of gas delivered in explaining the variability of distribution costs. Very low economies of scale, high economies of density, and the significant role of the morphologic
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Papers by Giovanni Fraquelli