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The pricing of six highly liquid futures commodity contracts is investigated using a Markov switching procedure. The data set spans an exceptionally turbulent period, characterized by a complex interplay of economic/financial and political shocks. Markov switching analysis exploits time series nonlinearity to identify the nature and the timing of the implicit changes of regime. Building on a HAM framework, we use the time varying parameterization of the transition probability estimates to link these shifts to exogenous variables. We provide in this way additional information on the co-movement of the time series and on their regime shifts, eventually conducive to herding pricing behaviour. The WTI oil futures price and DJIA stock index are used as proxies for global shocks as they turn out to be the main common drivers of the changes in regime of most futures commodity prices.   

Improving population health requires the commitment of a multitude of community partners, including employers. Since 2008, successive economic crises have reduced the national health system's capacity to meet the needs of its citizens in Italy. ENI is an Italian oil company employing over 31,000 people in nearly 62 countries. In the Italian community of ENI, there are about 20,000 employees. Between 2022 and 2023, ENI made relevant services and goods available for each employee. This work aims to identify a framework to measure the culture of health in ENI. It is the first step in developing an in-depth analysis of the culture of health in ENI, which will be the subject of in-depth studies after this work. Today, promoting health cannot be the sole purpose of public healthcare systems in Western contexts. Italy is an emblematic context of these phenomena. The development of the corporate welfare case in ENI is an opportunity to reflect on the evolution of private expenditure concerning the interventions promoted by a multinational oil and gas company such as ENI towards its employees. In all this, the culture of health represents a valid approach to the design and the evolution of corporate welfare models over time. The idea of the culture of health is an essential framework that can support why companies must work towards complementarity in providing services and interdependence with public health systems. By incorporating strategies such as inclusive health education, community engagement and partnering with public health systems to address social determinants of health, companies can contribute to building a culture of health rooted in equity, providing employees with the resources and support needed for a better and more equitable life.

This research investigates the linkages between the contributing factors of occupational accidents in the electrical industry, i.e., the business unit factor, the time of accidents, the level of injuries, the gender, and the day when occurred. The research also analyzes the linkage between the contributing factors of accidents to the occurrence of occupational accidents. The research method employed crosstab analysis as a quantitative technique through reports of occupational accidents, especially in the Indonesia Electrical Industry. Moreover, dummy variable regression is utilized to analyze the impact of contributing factors on the likelihood of work accidents. The results show that there is no significant statistical relationship between the contributing factors of occupational accidents, namely the business unit to the level of injury, the business unit to the day, the time of the accident to the level of injury, the time of the accident to the day, and the level of injury to the day. This research also finds that the significant variable in occupational accidents is the type of generation unit. As for the variable type of injury and the days, both are not proven to correlate statistically. This study can help the electrical industry improve occupational health and safety (OHS) performance through analysis to optimize the company's resources. The Management of the electrical company can allocate the right policy to increase OHS operational performance. This research integrates the identifying significant factors of occupational accidents and analyses their linkage, which can help guide future research in this area.

This paper explores Italy’s biotech industry. This is the case of a new industry formation in a hostile institutional context. Our goal is two-fold. First, it is to extend our understanding of the role of institutions on firm formation and industry creation. Second, it is to offer prescriptive evidence for those regions that are trying to encourage entrepreneurship in innovative industries or increment existing systems of innovations. We adopt the interpretative lenses of the institutional theory. Our work aims to discuss the role that institutions (by the meaning of regulations, policies, and fiscal measures) provide to the development and change of industries around the world. We offer a comparison between Italy and other European countries in order to advise rules and suggestions to improve the competitiveness of the Italian biotech industry and firm formation. We recognize that the Italian institutional context is hostile to new industry creation because the rules and regulations do not support new firm formation. Moreover, Italy represents a context that shows a high level of risk aversion to radical innovation such as biotechnology.   

Science-based firms (SBFs) are venture or corporation based on the development and commercialization of scientific discoveries that are exposed to the unique challenge to handle together business and science. Despite extensive efforts in the attempt to identify those factors that lead to the success of an SBFs the adoption of different definitions and names resulted in a lack of comprehensive picture on the determinants of SBFs' performances. With the objective to review the extant literature on SBFs’ performances and to understand what are the most appropriate parameters to evaluate an SBF, a systematic literature review adopting a comprehensive definition of SBFs was performed. The review, adopting an integrative approach, identified 30 papers published in top journals whose research questions deal with the determinants of SBFs' performances. Findings showed that determinants widely used such as net income within profitability measures, do not fully reflect SBFs performances and innovation abilities should be further investigated. Moreover, preconceived factors such as location and size have low or no impact on SBFs which opens the debate for more investigation. Also, the review identifies a comprehensive and multi-level set of determinants which allows delineating a number of research questions to be addressed in future research.