Università della Svizzera italiana

Learning from the Swiss corporate governance exception

Vatiero, Massimiliano

The Swiss economy represents an exception to the legal origin theory (e.g., Roe (2006)). Although Switzerland is a country belonging to the civil law family, many of its public companies have diffused corporate ownership, as do those in common law countries. This paper maintains that the Swiss exception relies on the complementarity between corporate ownership and policies addressing...

Università della Svizzera italiana

On the (political) origin of "corporate governance" species

Vatiero, Massimiliano

In: Journal of Economic Surveys

Although economies, business practices, and living standards have converged since WWII, corporate structures continue to differ among the advanced economies of the world. Looking at the diversity of corporate structures of large-sized firms around the world (and over time) would fascinate Charles Darwin. This work develops a critical review of the literature on political determinants of...

Università della Svizzera italiana

Corporate governance and its political economy

Vatiero, Massimiliano ; Roe, Mark J.

To fully understand governance and authority in the large corporation, one must attend to politics. Because basic dimensions of corporate organization can affect the interests of voters, because powerful concentrated interest groups seek particular outcomes that deeply affect large corporations, because those deploying corporate and financial resources from within the corporation to buttress...

Università della Svizzera italiana

An analysis of how 2002 judicial reorganisation has impacted on the performance of the First Instance Courts (Preture) in Ticino

Ippoliti, Roberto ; Vatiero, Massimiliano

With data from 2001 to 2010 of the First Instance Courts of the Canton of Ticino, Switzerland, this paper examines the impact of Legge sull’istituzione della Pretura penale e della funzione di sostituto Procuratore pubblico (2002), which meant to improve Cantonal court performance by decreasing penal workload. Our results suggest that such law has posed non-positive effects on judicial...

Università della Svizzera italiana

Costly institutions as substitutes : novelty and limits of the Coasian approach

Pagano, Ugo ; Vatiero, Massimiliano

One of the main contributions of Ronald H. Coase was to demonstrate how mainstream economics was based on a contradictory amalgam of costly physical inputs and free institutional resources, and to gave origin the economics of institutions: each institution is a mode of allocation and organization of economic resources that is to be investigated. In particular, none of the institutions...

Università della Svizzera italiana

Alla ricerca di regole (e istituzioni) efficienti

Vatiero, Massimiliano

In: Rivista critica del diritto privato, 2013, vol. 31, no. 1, p. 123-138

Università della Svizzera italiana

Un análisis gráfico de los bienes posicionales : Consumo, valoración y fallos del mercado

Vatiero, Massimiliano

In: RAE: Revista asturiana de economía, 2012, no. 46, p. 155-164

En una economía formada por dos individuos, un bien posicional es un bien tal que lo que un individuo consume en cantidad positiva debe ser consumida por el otro en la misma cantidad negativa. De este modo, los bienes posicionales constituyen el caso opuesto al de los bienes públicos. Por ejemplo, si un individuo consume más de un bien público, todos los agentes consumirán más de ese...

Università della Svizzera italiana

Beyond legal relations : Wesley Newcomb Hohfeld’s influence on american institutionalism

Fiorito, Luca ; Vatiero, Massimiliano

In: Journal of economic issues, 2011, vol. 45, no. 1, p. 199-222

This paper documents Hohfeld’s influence on interwar American institutionalism. We will mainly focus on three leading figures of the movement: John Rogers Commons, Robert Lee Hale, and John Maurice Clark. They regarded Hohfeld’s contribution on jural relations as a preliminary step toward the understanding of the adversarial nature of legal rights. Albeit with substantial differences in...

Università della Svizzera italiana

A joint reading of positional and relational goods

Fiorito, Luca ; Vatiero, Massimiliano

In: Economia politica : Journal of analytical and institutional economics, 2013, vol. 1, p. 87-96

Both relational and positional goods are based upon an idea of joint consumption - though with opposite signs. Indeed, in both cases, individuals' consumption choices take into account not only the individuals themselves, but others, as well. Given that relational goods provide a form of identity to their consumers, we show that a certain degree of positionality emerges within the consumption...