Browsing by Author "Palumbo, Riccardo"
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- Assessing the italian innovative start-ups performance with a composite indexPublication . Onesti, Gianni; Monaco, Eleonora; Palumbo, RiccardoThis paper aims to assess the profitability and employees’ productivity of Italian innovative start-ups with a new composite index: the Start-ups Performance score (SP-score). In recent years, the Italian government has made several efforts to foster the economy, establishment, and growth of start-ups. Specifically, the issuing of the Italian Start-up Act in 2012 offers a unique opportunity to examine the Italian setting, given the special conditions that the government granted to the start-ups. The latter obtain generic benefits, tax reductions and hiring facilitations if they meet specific criteria granting the status (label) of “innovative” by law. Based on a sample of Italian start-ups firms (ISPs) and financial statement data for the period 2016–2020, we test whether the performance of the Italian start-ups which are granted the status of “innovative” is higher compared to start-ups without the mentioned status (NISPs). We measure the firm’s performance by building a composite index which synthesizes both profitability and employees’ productivity (controlling for the firms’ size), and find that the ISPs report higher SP-score compared to the NISPs. In addition, we examine whether the SP-score is higher (or lower) among Innovative start-ups located in different regional areas. The derivation of the composite indicator (SP-score) allows a clear and effective evaluation of several characteristics, permitting a more comprehensive understanding of the data that support the strategic choices of management and localization entrepreneurship policies. In addition, our study highlights a certain homogeneity of innovative start-ups’ performance among the Italian territories, which overcomes the classic dualistic division between Northern and Southern regions.
- Should a chatbot disclose itself? Implications for an online conversational retailerPublication . Cicco, Roberta De; Silva, Susana Cristina Lima da Costa e; Palumbo, RiccardoToday many consumers prefer interactions with companies via chat and instant messaging, however, although in most cases it is now a virtual agent to handle the interactions, many of them feel it would be eerie if a chatbot pretended to be human. The present study aims at disentangling this sort of ambivalence people have for chatbots through an investigation on how the explicit disclosure of the chatbot identity, before the interaction, influences consumers’ perceptions. Specifically, this study compares the effects that the explicit disclosure of the chatbot identity has on social presence trust and users’ attitudes toward the online retailer. Findings from an online experiment with 160 participants show that interacting with the chatbot whose identity has been primed through a disclosure leads to less perceived social presence, trust, and attitude toward the online retailer, compared to interacting with the chatbot whose identity has not been disclosed before the interaction. The study further analyses a causal chain among the variables, proving that social presence and trust mediate the relationship between the chatbot identity disclosure and the attitude toward the online retailer.
- The effect of media coverage on target firms’ trading activity and liquidity around domestic acquisition announcements: evidence from UKPublication . Gorman, Louise; Lynn, Theo; Monaco, Eleonora; Palumbo, Riccardo; Rosati, PierangeloThis study investigates the effect of news media coverage on trading activity in, and the liquidity of, target firms’ shares around acquisition announcements. We use the number of articles published in four of the UK's main newspapers as a proxy for media coverage. Our dataset includes 350 UK domestic acquisition deals between 1996 and 2014. The results of our analysis suggest that media coverage is positively associated with target firms’ trading activity and stock liquidity. This is consistent with the media playing a key role in mitigating information asymmetry in the financial markets. This study contributes to the literature on stock market reactions to acquisition announcements by investigating the effect of media coverage on trading activity and stock liquidity beyond the price run-up, and by providing additional insights into the UK market which traditionally attracts less attention than the US market.