A PDE-constrained optimization formulation for discrete fracture network flows

We investigate a new numerical approach for the computation of the 3D flow in a discrete fracture network that does not require a conforming discretization of partial differential equations on complex 3D systems of planar fractures. The discretization within each fracture is performed independently of the discretization of the other fractures and of their intersections. Independent meshing process within each fracture is a very important issue for practical large scale simulations making easier mesh generation. Some numerical simulations are given to show the viability of the method. The resulting approach can be naturally parallelized for dealing with systems with a huge number of fractures

Where smart meets sustainability: The role of Smart Governance in achieving the Sustainable Development Goals in cities

Sustainable Development Goals (SDGs) seek to achieve economic, social, and environmental progress globally. However, trade-offs among these three pillars might occur, particularly in the context of cities. We argue that these trade-offs exist because the traditional factors of production for economic welfare are not always relevant to the other dimensions of city sustainability. Consequently, additional factors are needed to facilitate the progress of the 2030 agenda. We make a case for smart governance, a factor that we associate with the quality of governance. We explore these ideas by examining the economic, social, and environmental dimensions of 128 cities worldwide. Our results indicate that the traditional factors of production (labor, land, and capital) are positively associated with the economic dimension but weakly associated with the social and environmental dimensions. However, smart governance is positively associated with the various dimensions of urban sustainability

The Impact of Symbolic and Substantive Actions on Environmental Legitimacy

Drawing on institutional theory and insights from stakeholder theory and impression management, we empirically analyze the impact of both environmental symbolic polices (participation in voluntary environmental programs, green trademarks, environmental-dedicated board committees, environmental pay policies and community communication) and substantive actions (environmental patents and pollution prevention practices) on environmental legitimacy. We show that (1) symbolic actions have a weaker positive effect on legitimacy than substantive actions, (2) that the impact of symbolic actions is greater when they are combined with substantive actions, (3) that this impact is only short-term while substantive actions have both short- and long-term effects

Anisotropic a posteriori error estimate for the virtual element method

We derive an anisotropic a posteriori error estimate for the adaptive conforming virtual element approximation of a paradigmatic two-dimensional elliptic problem. In particular, we introduce a quasi-interpolant operator and exploit its approximation results to prove the reliability of the error indicator. We design and implement the corresponding adaptive polygonal anisotropic algorithm. Several numerical tests assess the superiority of the proposed algorithm in comparison with standard polygonal isotropic mesh refinement schemes

Born to be green: new insights into the economics and management of green entrepreneurship

While the number of green start-ups has steadily increased around the world in response to the environmental problems demanding immediate solutions, there are several unresolved questions on the behaviour and performance of such ventures. The papers in this special issue shed light on these issues by underscoring the role of several factors, such as industry life cycles, knowledge spillovers, institutions, and availability of external finance, in shaping decision-making and firm behaviour in green start-ups. This paper highlights the state-of-the art developments in the literature, discusses the key contributions of the papers put together in this special issue and presents a future research agenda for scholars interested in green entrepreneurship

Family involvement and firms’ establishment mode choice in foreign markets

Extant literature on foreign entry increasingly recognizes firms’ heterogeneity as a potential reason for inconsistency in results on the establishment mode choice, i.e. whether and under which conditions firms should choose to enter a new country through a greenfield investment or an acquisition. Our study contributes to this debate by identifying family ownership and family involvement in management as potential powerful sources of such heterogeneity. Integrating international business studies with both corporate finance literature on family firms and recent contributions from the Socio Emotional Wealth perspective on family ownership, we claim that, due to greater risk aversion and lower access to information, the family involvement either in the firm ownership and management leads to a higher propensity towards greenfield initiatives (vs. acquisitions). However, we also find that such a propensity decreases with international experience especially in family-owned firms given the greater ability of professionalized management to overcome family-related concerns on making acquisitions. Our analysis on 1,045 foreign initiatives undertaken by 311 Italian family and non-family firms between 2003 and 2013 confirms our expectations – indicating family ownership as a significant driver of international business choices

Corporate ethical identity as a determinant of firm performance : a test of the mediating role of stakeholder satisfaction

In this article, we empirically assess the impact of corporate ethical identity (CEI) on a firm’s financial performance. Drawing on formulations of normative and instrumental stakeholder theory, we argue that firms with a strong ethical identity achieve a greater degree of stakeholder satisfaction (SS), which, in turn, positively influences a firm’s financial performance. We analyze two dimensions of the CEI of firms: corporate revealed ethics and corporate applied ethics. Our results indicate that revealed ethics has informational worth and enhances shareholder value, whereas applied ethics has a positive impact through the improvement of SS. However, revealed ethics by itself (i.e. decoupled from ethical initiatives) is not sufficient to boost economic performance.Publicad

‘Better late than never’: the interplay between green technology and age for firm growth

This paper investigates the relationship between green/non-green technologies and firm growth. By combining the literature on eco-innovations, industrial organisation and entrepreneurial studies, we examine the dependence of this relationship on the pace at which firms grow and the age of the firm. From a dataset of 5498 manufacturing firms in Italy for the period of 2000–2008, longitudinal fixed effects quantile models are estimated, in which the firm’s age is set to moderate the effects of green and non-green patents on employment growth. We find that the positive effect of green technologies on growth is greater than that of non-green technologies. However, this result does not apply to struggling and rapidly growing firms. With fast-growing (above the median) firms, age moderates the growth effect of green technologies. Inconsistent with the extant literature, this moderation effect is positive: firm experience appears important for the growth benefits of green technologies, possibly relative to the complexity of their management