In this dissertation, I study the effects of climate change on agricultural total factor productivity and crop yields and their variability. In addition, an examination was conducted on the value of select climate change adaptation strategies in forestry. Across the study, the climate change scenarios analyzed were based on the 2007 Intergovernmental Panel on Climate Change Assessment Report. Climate change impacts on the returns to research investments were examined extending the work of Huffman and Evenson (2006), incorporating climatic effects. The conjecture is that the rate of return of agricultural research is falling due to altered resource allocations and unfavorable weather conditions, arising from the early onset of climate change. This work was done using a panel model of Agricultural Total Factor Productivity (TFP) for the forty-eight contiguous states over 1970?1999. Climatic variables such as temperature and amount and intensity of precipitation were added into the model. The main results are (1) climate change affects research productivity, varying by region; (2) this effect is generally negative; (3) additional investments are needed to achieve pre-climate change TFP rates of growth; and (4) the predicted investment increases are on the order of 18%. The second inquiry involved the impact of historical climatic conditions on the statistical distributions of crop yields through mean and variability. This was done statistically, using historical yields for several crops in the US, and climate variables, with annual observations from 1960 to 2007. The estimation shows that climate change is having an effect on the first two moments of the distribution, concluding that crop yield distributions are not stationary. The implication is that risk analysis must consider means and volatility measures that depend on future climatic conditions. The analysis shows that future mean yields will increase, but volatility will also be greater for the studied crops. These results have strong implication for future crop insurance decisions. Finally, an examination was done on the value of select forestry adaptation strategies in the face of climate change. This work is motivated by the known fact that forestry sector is already heavily adapted to changing climatic conditions. Using the Forestry and Agriculture Sector Optimization Model for the United States (FASOM), I found that rotation age is the most effective adaptation strategy being worth about 60 billion dollars, while changes in species and management intensity are worth about 1.5 billion, and land use change between forestry to agriculture is worth about 200,000.

Le aziende a controllo familiare sono considerate in molti Paesi la struttura proprietaria dominante, e la ricerca accademica si è progressivamente concentrata negli ultimi decenni sugli aspetti peculiari che differenziano le aziende familiari dalle altre strutture proprietarie. Nonostante questa convergenza, molti studi hanno sviluppato teorie contrastanti, in modo particolare sulla capacità delle aziende familiari di generare performance finanziarie superiori. Di converso, pochi studi hanno concentrato l’attenzione sulle scelte strategiche che posso spiegare il (maggiore o minore) differenziale di performance delle aziende familiari. Partendo dall’assunto che punti di forza e di debolezza possano coesistere nelle aziende familiari, identificare se siano gli uni o gli altri a prevalere è una sfida complessa se non si prendono in considerazione le scelte strategiche effettuate dalle aziende familiari. Partendo da questo gap nella letteratura, il presente lavoro cerca di misurare l’impatto che la proprietà familiare può avere sulle performance aziendali concentrandosi su tre aspetti principali della strategia d’impresa: il livello di conformità strategico alla media di settore (mediante la creazione di un indice che approssima le principali determinanti della business strategy), l’avvio di un processo di internazionalizzazione attraverso investimenti diretti esteri (IDE), e le implicazioni delle strategie di acquisizione. / The family business is widely considered the dominant property structure around the world and the research on this field has increased rapidly in the last decades to understand whether and in which aspects family firms differ from other organizations. Despite this convergence, the actual body of research on family firms is populated by conflicting theories and findings, especially on the relationship with financial performance. On the other hand, few studies focus their attention on which strategic choices may explain the financial differences between family firms and non-family peers. Starting from this research gap, we think that both positive and negative aspects may coexist in family firms, and it would be difficult to identify which predominate without considering how family principals frame strategic decisions. In our thesis, we try to disentangle the effect of family ownership on firm performance focusing on three main aspects of firm strategy: the level of strategic conformity through the creation of a composite index (in which we incorporated six items that can be considered as key determinants of the business strategy), the departure of the internationalization process through foreign direct investments (FDI), and the implications of acquisition strategies.