China is a large country characterized by remarkable growth and distinct regional diversity. Spatial disparity has always been a hot issue since China has been struggling to follow a balanced growth path but still confronting with unprecedented pressures and challenges. To better understand the inequality level benchmarking spatial distributions of Chinese provinces and municipalities and estimate dynamic trajectory of sustainable development in China, I constructed the Composite Index of Regional Development (CIRD) with five sub pillars/dimensions involving Macroeconomic Index (MEI), Science and Innovation Index (SCI), Environmental Sustainability Index (ESI), Human Capital Index (HCI) and Public Facilities Index (PFI), endeavoring to cover various fields of regional socioeconomic development. Ranking reports on the five sub dimensions and aggregated CIRD were provided in order to better measure the developmental degrees of 31 or 30 Chinese provinces and municipalities over 13 years from 1998 to 2010 as the time interval of three “Five-year Plans”. Further empirical applications of this CIRD focused on clustering and convergence estimation, attempting to fill up the gap in quantifying the developmental levels of regional comprehensive socioeconomics and estimating the dynamic convergence trajectory of regional sustainable development in a long run. Four clusters were benchmarked geographically-oriented in the map on the basis of cluster analysis, and club-convergence was observed in the Chinese provinces and municipalities based on stochastic kernel density estimation.

The dissertation contains five parts: An introduction, three major chapters, and a short conclusion. The First Chapter starts from a survey and discussion of the studies on corporate law and financial development literature. The commonly used methods in these cross-sectional analyses are biased as legal origins are no longer valid instruments. Hence, the model uncertainty becomes a salient problem. The Bayesian Model Averaging algorithm is applied to test the robustness of empirical results in Djankov et al. (2008). The analysis finds that their constructed legal index is not robustly correlated with most of the various stock market outcome variables. The second Chapter looks into the effects of minority shareholders protection in corporate governance regime on entrepreneurs' ex ante incentives to undertake IPO. Most of the current literature focuses on the beneficial part of minority shareholder protection on valuation, while overlooks its private costs on entrepreneur's control. As a result, the entrepreneur trade-offs the costs of monitoring with the benefits of cheap sources of finance when minority shareholder protection improves. The theoretical predictions are empirically tested using panel data and GMM-sys estimator. The third Chapter investigates the corporate law and corporate governance reform in China. The corporate law in China regards shareholder control as the means to the ends of pursuing the interests of stakeholders, which is inefficient. The Chapter combines the recent development of theories of the firm, i.e., the team production theory and the property rights theory, to solve such problem. The enlightened shareholder value, which emphasizes on the long term valuation of the firm, should be adopted as objectives of listed firms. In addition, a move from the mandatory division of power between shareholder meeting and board meeting to the default regime, is proposed.

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La tesi si pone due obiettivi principali. Il primo é quello di proporre una rassegna ragionata della letteratura di carattere economico sulla Responsabilitá Sociale d’Impresa (RSI), analizzando i maggiori elementi di possibile critica e i nodi rimasti irrisolti. Il secondo é quello di introdurre alcuni contributi originali a questa letteratura. Riguardo al secondo obiettivo, l’analisi economica della RSI si puó dividere in due rami: uno che vede la RSI principamente come strategia di differenziazione, e l’altro che la vede come strategia per migliorare l’efficienza del processo produttivo. Fino ad ora la letteratura economica si é concentrata esclusivamente sul primo. Nella mia tesi vengono sviluppati alcuni modelli teorici delle RSI come strategia per migliorare l'efficienza del processo produttivo. Uno dei principali risultati della tesi é che le imprese che appaiono socialmente responsabili non sono quelle che hanno rinunciato alla massimizazione dei profitti, ma quelle che hanno come obiettivo la massimizzazione dei profitti nel lungo periodo, tenendo in considerazione come le proprie attivitá possono influenzare la disponibilitá e la qualitá dei fattori di produzione nel futuro. Un altro risultato della tesi é lo studio delle configurazioni di equilibrio in diversi mercati, con riferimento a quante imprese decideranno di intraprendere RSI e quante decideranno di non farlo.

Lo sviluppo locale rappresenta, non solo per gli economisti, un tema di analisi sempre più rilevante sia al livello istituzionale che al livello scientifico. La complessità degli aspetti inerenti lo sviluppo locale richiede il coinvolgimento di diverse discipline, in ambito economico, politico, sociale e ambientale e di tutti i livelli istituzionali. Parallelamente è cresciuta l’esigenza di processi valutativi coerenti e sistematici, basati su di un numero sempre maggiore di strumenti e metodologie di valutazione. Dall’orientamento della Commissione Europea emerge del resto con sempre maggiore evidenza il binomio fra politica di sviluppo locale e valutazione, che coinvolge i diversi livelli di governo. Il presente lavoro realizza un quadro delle politiche di sviluppo locale, partendo dal livello europeo fino ad arrivare al livello locale, ed una successiva analisi di metodologie e strumenti di valutazione consolidati e di frontiera. La considerazione della valutazione come strumento strategico per le politiche di sviluppo locale trova applicazione nella realizzazione di una analisi comparativa di due aree di montagna. Tali aree, identificate nell’Appennino Bolognese e nell’area montana della Contea di Brasov in Romania, pur collocate in paesi a diverso livello di sviluppo, risultano confrontabili, in termini di similitudini e criticità, al fine di trarre considerazioni di policy inerenti il disegno di adeguate politiche di riqualificazione, mettendo in luce l’importanza del processo valutativo e la necessità di contribuire a diffondere una vera e propria cultura della valutazione. / Local development represents, not only for economists, an analysis issue more and more relevant, at institutional and also at scientific level. The complexity on the inherent aspects regarding the local development, needs to involve many disciplines in economic, politic, social and environmental fields and at all institutional levels. At the same time an increased of the necessity of coherent and systematic evaluation process, based on a major numbers of tools and evaluation methodologies. The European Commission suggests that the relation between local development and evaluation process is more and more relevant and involves different levels of government. The present work aims at realising a framework of local development policies, starting from European level to the local level, and an analysis of consolidate and frontier evaluation methodologies and tools. The consideration of evaluation as a strategic tools for local development policies finds than an application in a comparative analysis of two mountain areas: The two areas were identified on the Bologna Appennines and the mountain area in Brasov County, Romania; even if the two areas are located in two countries at different level of development, they seem comparable, in terms of similarities and critical issues. The aim is to underline policy considerations for re-qualification policies and, at the same time, the importance of the evaluation process and the necessity to spread a real evaluation culture.

The purpose of this research is to contribute to the literature on organizational demography and new product development by investigating how diverse individual career histories impact team performance. Moreover we highlighted the importance of considering also the institutional context and the specific labour market arrangements in which a team is embedded, in order to interpret correctly the effect of career-related diversity measures on performance. The empirical setting of the study is the videogame industry, and the teams in charge of the development of new game titles. Video games development teams are the ideal setting to investigate the influence of career histories on team performance, since the development of videogames is performed by multidisciplinary teams composed by specialists with a wide variety of technical and artistic backgrounds, who execute a significant amounts of creative thinking. We investigate our research question both with quantitative methods and with a case study on the Japanese videogame industry: one of the most innovative in this sector. Our results show how career histories in terms of occupational diversity, prior functional diversity and prior product diversity, usually have a positive influence on team performance. However, when the moderating effect of the institutional setting is taken in to account, career diversity has different or even opposite effect on team performance, according to the specific national context in which a team operates.

This thesis examines the literature on local home bias, i.e. investor preference towards geographically nearby stocks, and investigates the role of firm’s visibility, profitability, and opacity in explaining such behavior. While firm’s visibility is expected to proxy for the behavioral root originating such a preference, firm’s profitability and opacity are expected to capture the informational one. I find that less visible, and more profitable and opaque firms, conditionally to the demand, benefit from being headquartered in regions characterized by a scarcity of listed firms (local supply of stocks). Specifically, research estimates suggest that firms headquartered in regions with a poor supply of stocks would be worth i) 11 percent more if non-visible, non-profitable and non-opaque; ii) 16 percent more if profitable; and iii) 28 percent more if both profitable and opaque. Overall, as these features are able to explain most, albeit not all, of the local home bias effect, I reasonably argue and then assess that most of the preference for local is determined by a successful attempt to exploit local information advantage (60 percent), while the rest is determined by a mere (irrational) feeling of familiarity with the local firm (40 percent). Several and significant methodological, theoretical, and practical implications come out.

This thesis is a collection of essays related to the topic of innovation in the service sector. The choice of this structure is functional to the purpose of single out some of the relevant issues and try to tackle them, revising first the state of the literature and then proposing a way forward. Three relevant issues has been therefore selected: (i) the definition of innovation in the service sector and the connected question of measurement of innovation; (ii) the issue of productivity in services; (iii) the classification of innovative firms in the service sector. Facing the first issue, chapter II shows how the initial width of the original Schumpeterian definition of innovation has been narrowed and then passed to the service sector form the manufacturing one in a reduce technological form. Chapter III tackle the issue of productivity in services, discussing the difficulties for measuring productivity in a context where the output is often immaterial. We reconstruct the dispute on the Baumol’s cost disease argument and propose two different ways to go forward in the research on productivity in services: redefining the output along the line of a characteristic approach; and redefining the inputs, particularly analysing which kind of input it’s worth saving. Chapter IV derives an integrated taxonomy of innovative service and manufacturing firms, using data coming from the 2008 CIS survey for Italy. This taxonomy is based on the enlarged definition of “innovative firm” deriving from the Schumpeterian definition of innovation and classify firms using a cluster analysis techniques. The result is the emergence of a four cluster solution, where firms are differentiated by the breadth of the innovation activities in which they are involved. Chapter 5 reports some of the main conclusions of each singular previous chapter and the points worth of further research in the future.

This collection of essays examines various aspects of regional development and the issues of internationalization. The first essay investigates the implications of the impressive growth of China from a rural-urban perspective and addresses the topic of convergence in China by employing a non-parametrical approach to study the distribution dynamics of per capita income at province, rural and urban levels. To better understand the degree of inequality characterizing China and the long-term predictions of convergence or divergence of its different territorial aggregations, the second essay formulates a composite indicator of Regional Development (RDI) to benchmark development at province and sub-province level. The RDI goes beyond the uni-dimensional concept of development, generally proxied by the GDP per capita, and gives attention to the rural-urban dimension. The third essay “Internationalization and Trade Specialization in Italy. The role of China in the international intra-firm trade of the Italian regions” - deals with another aspect of regional economic development: the progressive de-industrialisation and de-localization of the local production. This essay looks at the trade specialization of selected Italian regions (those regions specialized in manufacturing) and the fragmentation of the local production on a global scale. China represents in this context an important stakeholder and the paper documents the importance of this country in the regional intra-firm trade.

Analysts, politicians and international players from all over the world look at China as one of the most powerful countries on the international scenario, and as a country whose economic development can significantly impact on the economies of the rest of the world. However many aspects of this country have still to be investigated. First the still fundamental role played by Chinese rural areas for the general development of the country from a political, economic and social point of view. In particular, the way in which the rural areas have influenced the social stability of the whole country has been widely discussed due to their strict relationship with the urban areas where most people from the countryside emigrate searching for a job and a better life. In recent years many studies have mostly focused on the urbanization phenomenon with little interest in the living conditions in rural areas and in the deep changes which have occurred in some, mainly agricultural provinces. An analysis of the level of infrastructure is one of the main aspects which highlights the principal differences in terms of living conditions between rural and urban areas. In this thesis, I first carried out the analysis through the multivariate statistics approach (Principal Component Analysis and Cluster Analysis) in order to define the new map of rural areas based on the analysis of living conditions. In the second part I elaborated an index (Living Conditions Index) through the Fuzzy Expert/Inference System. Finally I compared this index (LCI) to the results obtained from the cluster analysis drawing geographic maps. The data source is the second national agricultural census of China carried out in 2006. In particular, I analysed the data refer to villages but aggregated at province level. / La Cina è sicuramente uno dei più potenti paesi del mondo la cui economia può influenzare quella degli altri paesi. Tuttavia ci sono molti aspetti poco indagati di questo paese che necesiterebbero di ulteriori approfondimenti. Primo fra tutti il ruolo fondamentale delle aree rurali sia in termini politici che economici e sociali. Di particolare rilevanza l'influenza che le aree rurali hanno sulla stabilità dell'intero paese. Molti studi recenti si sono concentrati sul fenomeno dell'urbanizzazione tralasciando l'analisi delle condizioni di vita e dei profondi cambiamenti avvenuti nelle zone rurali. In questa tesi ho condotto prima un'analisi attraverso due metodologie di statistica multivariata (PCA e CA). Nella seconda parte ho invece elaborato un indice basato sull'approccio Fuzzy Logic. Infine ho comparato i risultati così ottenuti riportandoli su mappe. I dati utilizzati sono quelli del secondo censimento dell'agricoltura condotto nel 2006. In particolare ho analizzato i dati riferiti ai villaggi e aggregati a livello di provincia.