Search results for " guarantee"
showing 10 items of 43 documents
A Conditional Value–at–Risk Model for Insurance Products with Guarantee
2009
We propose a model to select the optimal portfolio which underlies insurance policies with a guarantee. The objective function is defined in order to minimise the conditional value at-risk (CVaR) of the distribution of the losses with respect to a target return. We add operational and regulatory constraints to make the model as flexible as possible when used for real applications. We show that the integration of the asset and liability side yields superior performances with respect to naive fixed-mix portfolios and asset based strategies. We validate the model on out-of-sample scenarios and provide insights on policy design.
Microcredit, Regional Programs and Credit Guarantees in Italy
2019
This work proposes an analysis of microcredit initiatives analyzed at the territorial level. The differences are analyzed on the basis of distinctive features to identify different ways to develop microcredit in Italy. An empirical analysis is also carried out to verify the existence of a statistically significant correlation between the characteristics of entrepreneurial microcredit programs and their default risk. The presence of credit guarantee systems and the role of bank intermediaries as promoters significantly mitigate the risk of default on these initiatives. Regional microcredit programs do not show significant territorial differences in terms of credit guarantees.
Migranti e lotta alla povertà. La Corte costituzionale nega il reddito di cittadinanza ai titolari del permesso di soggiorno per ricerca di un'occupa…
2022
Il commento analizza la recente sentenza n. 19/2022 della Corte costituzionale, in cui il Giudice delle leggi ha ritenuto costituzionalmente legittima la previsione legislativa, che subordina alla titolarità del permesso di soggiorno di lungo periodo l’ottenimento del reddito di cittadinanza per i migranti extracomunitari. The essay analyses the recent Italian constitutional court ruling (no. 19/2022), that deems constitutional social security law, which subordinates the granting of minimum income guaranteed to the ownership of permanent residence permit for non-EU citizens.
Service policies of German manufacturers: Critical factors in international competition
1992
Abstract German companies perform well in export markets, based on product quality and technology. But the competitive advantages and value-added of service are expected to grow sharply in the coming decade — especially product-focused service. Hermann Simon has identified ‘Hidden Champions’ in Germany — companies like Heidelberg Printing Machines, BMW and Mercedes-Benz, which integrate market and technology as equal driving forces and provide quick and reliable customer service. But there is much room for improvement in service provided by German manufacturing companies. They could upgrade their design and marketing of service, and apply better quality control such as setting quantitative …
Unit-level fairness and quality within the health care industry: A justice–quality model
2014
We test a justice–quality model in which peer justice and justice climate are related to the service quality provided by the work unit. Based on the effort–reward imbalance model, we propose that units perceiving fair treatment provide better delivery of the core service (functional service quality) and better relational service beyond the core service (relational service quality). We also test whether the cross-level relationship of high service quality delivered by work units translates into high customer ratings of the service quality they receive. Furthermore, we propose that high service quality increases the work unit’s influence on their customers’ quality of life (QoL). We test thes…
Accounting for service quality to customers in the efficiency of water companies: evidence from England and Wales
2015
This paper investigates the role of service quality to customers in the efficiency assessment of water companies in England and Wales. To achieve this, data envelopment analysis techniques are employed to compute the technical efficiency of the water companies following two approaches: (i) traditional assessment based on quantity variables (without the inclusion of service quality variables) and (ii) alternative assessment considering quantity and service quality variables as undesirable outputs. The analysis covers 22 water and sewerage companies and water only companies providing drinking water services. The results indicate that the traditional efficiency assessment reveals a high level …
Durata e prescrizione nella garanzia per i i vizi della vendita
2020
Il saggio analizza due recenti sentenze della Corte di cassazione in tema di onere della prova e di decorso del termine di prescrizione in materia di azioni edilizie nella vendita. L'analisi tenta di dimostrare che la soluzione di entrambe le questioni dipende dall'esatta qualificazione giuridica del vincolo del venditore come garanzia, intesa come attribuzione di utilità senza cooperazione. Su queste basi è possibile pervenire a conclusioni diverse e più solide rispetto a quelle cui perviene la Corte di cassazione. The essay analyzes two recent judgments of the Court of Cassation regarding the burden of proof and the expiry of the limitation period for the claim in the field of actions aga…
Le rinunce e transazioni sottratte alla disciplina dell’art. 2113 c.c.
2022
The essay deals with waivers and transactions on employees’ rights. According to the consistent judicial overview of art. 2113 of the civil code, waivers and trans actions on rights guaranteed by mandatory rules of law or collective bargaining, only concern renunciations of rights already acquired by the holder, and not still disputed. In particular, art. 2113 of the civil code does not apply if the right can be dismissed by the right holder, as in the case of job retention.
Lo sviluppo e l’innovazione
2021
Le norme della legge di bilancio per il 2021 in materia di sviluppo e innovazione sembrano ancora legate a una logica di natura emergenziale, ponendosi in continuitàconle normative adottate nel corso del 2020 per fare fronte alle fasi più acute della crisi causata dal Covid-19, con le quali, non a caso, condividono il carattere temporaneo degli interventi. Questi si basano su incentivi ai consumi, garanzie pubbliche sui prestiti bancari e varie provvidenze da distribuire tramite fondi pubblici appositamente istituiti. Sorprende l’assenza di progetti ambiziosi per lo sviluppo economico, che avrebbero potuto essere coordinati, o costituire anticipazioni, di quelli da inserire successivamente …
Emergencia y garantías (en el pensamiento jurídico de Luigi Ferrajoli)
2011
Abstract: Along with Spain and United Kingdom, Italy has suffered a terrible period of political violence between 1970 and 1982 with hundreds of killings. In this paper I analyse the origins of Luigi FERRAJOLI’s theory of legal guarantee and his criticisms to Italian legislation against terrorism of that time. Therefore, I shed light on three different understanding of such a theory and I offer a review of that legislation that he labelled as «the subsystem of exception ».Moreover I will apply this conception of «special» criminal law to two famous trials against militants of a group of the extreme left. According to FERRAJOLI, these trials have been an instance of the paradigm of political…