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Poddi, Laura; Vergalli, Sergio. |
Over the last two decades in OECD countries increasingly more firms are certifying as Socially Responsible (CSR is the acronym for Corporate Social Responsibility). This kind of certification is assigned by private companies that guarantee that a certain firm’s behaviour is environmentally and sociologically correct. Some papers (including Preston and O’Bannon, 1997; Waddock and Graves, 1997; McWilliams and Sieger, 2001; Ullman, 1985) tried to establish if there exists a link between Social Responsibility certification and the performance of firms. Their results were ambiguous and did not show any common connection. This ambiguity depends mainly on the static nature of their analyses and on the problem of whether performance is affected more by... |
Tipo: Working or Discussion Paper |
Palavras-chave: Corporate Social Responsibility; Growth; Institutional and Behavioral Economics; M14; C23; O10. |
Ano: 2009 |
URL: http://purl.umn.edu/52531 |
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Vergalli, Sergio. |
This work is devoted to study the role of combined entry and exit strategies in the migration process. We develop a real option model in which the community of immigrants in the host country is described as a club and the immigrants benefits is a U-shaped function, depending on the dimension of the district. There exist two threshold levels: the first one triggers the migration choice, while the second triggers the return to the country of origin. The theoretical results show that the phenomenon of hysteresis is amplified by the existence of a community both in the entry case and in the exit case. Furthermore, the community can reduce the minimum wage level required to trigger both exit and entry: this fact could explain why in some cases we observe... |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
Ano: 2006 |
URL: http://purl.umn.edu/12068 |
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Moretto, Michele; Vergalli, Sergio. |
Recent European Legislation on immigration has revealed a particular paradox on migration policies. On the one hand, the trend of recent legislation points to the increasing closure of frontiers (OECD 1999, 2001,2004), also by using immigration quotas. On the other hand, there is an increase of regularization, i.e., European policies are becoming less tight. Our aim here is to study these counterbalanced and opposite policies in European immigration legislation in a unified framework . To do this, we have used a real option approach to migration choice that assumes that the decision to migrate can be described as an irreversible investment decision where quotas represent an upper bound limit. Our results show that the paradox of counterbalancing... |
Tipo: Working or Discussion Paper |
Palavras-chave: Immigration; Real Option; Quota System; F22; J61; O15; R23. |
Ano: 2008 |
URL: http://purl.umn.edu/37818 |
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Moretto, Michele; Vergalli, Sergio. |
This paper tries to explain why most migration flows show some observable jumps in their processes, a phenomenon that seems to be sympathetic with the characteristic of irreversibility of migration. We present a real option model where the choice to migrate depends on both the differential wage between the host country and the country of origin, and on the probability of being fully integrated into the host country. The theoretical results show that the optimal migration decision of a single individual consists of waiting before migrating in a (coordinate) mass of individuals. The dimension of the migration flow depends on the behavioural characteristics of the ethnic groups: the more "sociable" they are, the larger the size of the wave and the lower the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
Ano: 2005 |
URL: http://purl.umn.edu/12071 |
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Vergalli, Sergio. |
In this paper, we present a theoretical model that, implementing the pioneering work of Burda (1995), based on the Real Option Theory, investigates the roots of the migration dynamics. In the model the decision to migrate of each individual depends not only on the wage differential, but also on a U-shaped benefit function of a community of homogeneous ethnic individuals, modelled according to the "theory of clubs". The theoretical results are able to give an explanation to the observable "jumps" in the migration flows and to describe how the trigger for entry can change depending on the dimension of the district. The analysis of the results also sheds light on the dynamics of the districts development: some possible rigidities in the adjustment of the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
Ano: 2006 |
URL: http://purl.umn.edu/12080 |
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