Bocconi International Fair 2019
Over 2000 students participated in the Bocconi International Fair, the annual fair to present students with all the opportunities for study and work abroad offered by the University.
Video/ GDPR should be focus of a more safer and responsible Internet
As Safer Internet Day is celebrated around the world today the focus should centre on the added values and benefits brought by GDPR, the General Data Protection Regulation introduced by the EU last May, as explains in this video Oreste Pollicino, of the Department of Legal Studies.
Video/Progressive fiscal systems and social mobility to fight global inequality
The latest Oxfam report on inequality highlights that the richest part of the world population has grown even richer – the richest 26 people in fact have the same net worth as the poorest 50% of the world population. Despite some disputes on the data there is no doubt, explains in this video Guido Alfani of the Department of Social & Political Sciences, that inequality in the world is continuously on the rise. To combat this phenomenon, he argues, we should move towards more progressive fiscal systems and promote greater social mobility
Video/The factors that could bring together Obrador and Trump
On December 1 Andrés Manuel López Obrador takes office as Mexico's new President. Mexico’s relationship with the US is one of the uncertainties of this new presidency with the two presidents having very different ideological positions. But certain factors could lead to Obrador and Trump having a good relationship, explains in this video Antonella Mori of the Department of Social and Political Sciences. Both are anti-establishment presidents, explains Mori, and also the NAFTA agreement, which could have been a source of tension, has been revised. And also, she explains, Obrador wants to develop the poorest regions of southern Mexico which is a goal that could be supported by Trump as a way to block migration to the US from Mexico and by Central American migrants passing through Mexico to the US.
Video/2018 Midterm Elections, the Implications of a Divided Government
The divided government which has resulted from the 2018 midterm elections in the US will provide a check on power but also makes it less likely legislation will be produced, explains in this video Anthony Bertelli of the Department of Social & Political Sciences. And in terms of checks on power, he says, investigations could raise issues. Whilst in terms of results, moderate Republicans paid a price whilst to do so well Democrats showed quite an ideological diversity which could raise difficulties for them regarding policy making and agenda
Video/Outlook for Brazil's Economy with Bolsonaro
Liberalizations, privatizations, deregulation - Jair Bolsonaro has promised pro business policies. Done in the right way – not creating private monopolies, not deregulating the environmental sector and with pro competition policies for example - it could render Brazil’s economy more modern and competitive, explains in this video Antonella Mori of the Department of Social & Political Sciences. Done in the wrong way, the policies could increase inequalities in the country or further damage the environment.
Video/The New Role of Fashion Shows in Brand Strategy
Aimed at wider audiences and a part of brands’ storytelling, as Milano Fashion Week kicks off today the fashion shows will be consolidating their new role as of recent years, as explains in this video Paola Cillo of the Department of Management &Technology. Fashion shows have in fact taken up a new role in in company strategy and are now aimed at a wider audience (the general public and consumers and not just journalists or buyers) thanks also to the fact that images of shows can now be shared, and commented, immediately on the web and social platforms. Fashion shows are also no more simply a commercial tool but are now part of a brand’s wider storytelling strategy. And they have become more and more real pieces of art – where the true content is not so much the product but the messages that the designer wants to convey about the brand.
Video/Lehman Brothers could, and should, have been saved
Ten years after the bankruptcy of Lehman Brothers, it is clear that the failure to bail out the American investment bank was a big mistake on the part of the US financial institutions, as also acknowledged in retrospect by Ben Bernanke and Henry Paulson. They claim, however, to have done everything possible but that there was no legislative possibility for rescuing the bank. Is this true or is it legitimate to doubt this, Stefano Rossi, Generali Group Chair in Insurance Risk Management at Bocconi, asks in this video, given that later on other institutions were saved?
Video: The Trump/Kim summit, misplaced fanfare
The Trump-Kim summit in Singapore has not been a clear success for the US, according to Professor Livio Di Lonardo. In the first place, pushing an American President to the negotiating table less than one year after the first North Korean nuclear ballistic missile launch is a great result for Mr. Kim, something that neither his father nor his grandfather managed to achieve. Furthermore, President Trump (even if not in the official document) committed to stopping joint military exercises with South Korea, without obtaining much in exchange. Kim agreed only to a generic pledge to denuclearize the Korean Peninsula that seems to involve South Korea as well
Gender equality: a long way still to go
No country in the world has reached gender equality, Paola Profeta says in this video. If the gender gap in education and health has been almost closed, the gap in economic opportunity and participation and the gap in political participation are still wide. If we want to exploit talent in order to boost economic development and growth, we can’t neglect half the talent pool. Or “None of us can move forward when half of us id held back”, as said Justin Trudeau, the Prime Minister of Canada, that will host the G7 on Friday, 8 June and Saturday, 9 June. Gender equality will be discussed on Saturday morning.
Video/Europes New Data Privacy Laws, an Opportunity for Companies
On May 25th Europe’s new General Data Protection Regulation (GDPR) laws come into effect - a massive revamp of the EU’s data privacy requirements. The GDPR addresses the problem of exploitation of data and makes businesses accountable with the threat of fines if they don’t comply. Companies may have to invest in technology, or review their internal processes, to comply but they should not see this as a burden but rather as an opportunity, explains in this video Gabriel Pereira Pundrich of the Department of Accounting. It can in fact give them a competitive edge, showing to customers that they comply in terms of privacy and security of their data, says Pundrich. The recent Facebook scandal highlighted in fact how much people today value privacy.
How current US foreign policy is shaped
When analysing current international relations the important premise is that this is the first time a superpower, the US, is populist – explains in this video Massimo Morelli of the Department of Social & Political Sciences - which has implications in terms of increase in protectionism and in strategic disengagement. Populism is in fact more sensitive to the needs of the medium US voter who tends to be a low-skilled employee, afraid of China imports and of immigration, and thus in favor of protectionism and closure. In general the US’s current tendency is to speak loud and tough but with the aim of leading to negotiations, explains Morelli. This tendency to disengagement can be seen for instance with North Korea since the US medium voter doesn’t have strong interest in what happens in the Korean peninsula.
Video/In Italy, Activist Investors Hunt for the Largest Prey
The victory of US activist hedge fund Elliott in appointing 10 board members at Telecom Italia is a historic and watershed moment for shareholder activism in Italy, and Europe. Unusually, a European government actively supported a foreign investor whose goal is to shake up a firm. But nobody should be surprised that a giant hedge fund decides to pick a battle about corporate governance in Italy, explains Professor Hannes Wagner, Department of Finance, Bocconi. His research on hedge fund activism shows that after the US, Italy is the country where firms have the highest probability of being targeted by an activist hedge fund. And this is a good thing, says Wagner, as his research shows that where activists win, they generate significant shareholder value.
Video/Trade Conflict, the Real Aim is to Push Negotiations on New Terms
Donald Trump is targeting China with trade sanctions, outside WTO rules, because he doesn’t accept the terms of China’s accession to the WTO in 2001, terms dictated by the fact that China was then treated as developing country, explains in this video Claudio Dordi of the Department of Law. With the trade measures he has imposed Trump is now primarily seeking to push negotiations to change the terms to which China participates to the international trade regime and so at the moment the measures have had a limited impact. If such negotiations fail however then a true trade war could result - which would be of no interest or benefit to any nation of the international community
Video/Management and IT are the Factors Hampering Productivity in Southern Europe
In the last 20 years productivity has grown less in southern Europe than in northern Europe and the US and in this video Tom Georges Schmitz of the Department of Economics explains how research of his shows that one vital factor for this has been the impact of IT. In southern Europe IT is in fact used less by companies and they also benefit less from its use than companies in Northern Europe and the US. And Schmitz explains that the underlying cause for this is that to use IT efficiently companies need to be efficiently managed and organised and southern Europe firms score worse on this. Less efficient use of IT due to less efficient management he says accounts in fact for 1/3 of the divergence in productivity between Italy and Germany. And the divergence in productivity also grows because northern Europe has benefitted more from IT and so wages have risen and it has attracted high-skilled workers from southern Europe. And simply subsidising IT is not sufficient, it is the question of inefficient management that needs to be addressed, so as to take full advantage of new technologies.
Video/ Leaders, the Importance of Taking Responsibility
A few days ago Mark Zuckerberg took responsibility for the data breach scandal at Facebook and in this video Massimo Magni, of the Department of Management & Technology, highlights the importance of taking such actions. In first place, he explains, for leaders to develop trust with employees, within the company and with external shareholders. Instead, when leaders don’t take responsibility people don’t feel comfortable in speaking up or sharing ideas and knowledge which can hinder the creativity and innovation of a company. It is also vital that leaders admit responsibility promptly so that such action is not perceived as insincere or forced under pressure.
Video/Data Breach: Facebook's Business Model Exploited to the Extreme
The current data breach scandal shoes how Cambridge Analytica basically exploited Facebook’s business model to the extreme, explains in this video Dirk Hovy professor of Computer Science at Bocconi. Facebook in fact provides a platform for people to interact and have fun but in return people leave data that Facebook can sell to advertisers to target them and it was only a matter of time before someone exploited it for something other than regular advertising, says Hovy. What makes this breach more insidious is that Facebook has billions of users who provide and leave a rich set of data so there is a huge audience to target and also, with machine learning models, it is easy to be fairly accurate in picking up trends across the population and targeting the right people.
Video/Immigration: time to shift the debate
A too narrow focus on numbers and regulation in the debate doesn’t allow to fully assess the impact of immigrants. Their economic choices and behavior are a very important factor, explains in this video Joseph-Simon Goerlach of the Department of Economics, which are in turn shaped by immigration policies. Long-term and permanent immigrants tend to be more similar in their behavior to non-migrants and the debate thus needs to shift to policies and schemes that encourage with incentives immigrants to stay longer or permanently so they integrate and learn host country specific skills and the language – factors which have a positive impact on their economic performance. With positive benefits for the host country also in terms of the fiscal contribution of immigrants and on the demand for goods and services. But it is fundamental that immigrants and refugees have clarity about these schemes, since uncertainty reduces the incentives.
Video/Italy Elections: Populist Parties Broaden their Appeal
An analysis of the correlations between votes and economic indicators shows that the Five Star Movement obtained more votes in municipalities with a high share of 18-29 year old NEETs (not engaged in education, employment or training) and that the Lega broadened its appeal with neoliberal proposals. In this video Pietro Stanig of the Department of Policy Analysis & Public Management outlines some results of his analysis of the Italian election results. But even if they share many electoral platform points the possibility of a M5S-Lega coalition remains uncertain
Video/Italian elections: the outlook for a new government
A coalition government of populists and Eurosceptics, the outcome of the Italian elections feared the most by Europe and the markets, is unlikely whilst the outcome for a new government could be in the hands of Renzi and the PD party. A video comment from Carlo Altomonte, of Bocconi’s Department of Policy Analysis & Public Management, on the outlook for a new government in Italy.
Video/The reality of coalition governments
With a coalition the most likely outcome of this Sunday’s elections in Italy, what are the prospects for such a government? Coalition governments tend in fact to have a bad press but Lanny Martin, of the Department of Policy Analysis and Public Management, explains in this video that they can be less problematic than they are made out to be. In terms of stability, for instance, up to 1994 coalition governments in Italy did indeed only last on average 40% of their maximum term, below the European average of 60%, but since then have lasted nearer 60% of their term. To note that on average single party governments in the UK tend to reach 75% of their terms. Another positive aspect of coalitions, as Martin explains, is that they force parties to compromise.
Future of Europe
The full debate held in Bocconi on December 4, an event part of the 'Future of Europe Project' a collaboration between the Financial Times and Bocconi University
The Ecb tapering between hawks and doves
A cautious path, the one chosen by Mario Draghi, and in the middle between those who would like a slow, delayed normalization, fearing a new wave of recession, and those who, on the contrary, believe that to convince the economy that the situation has returned normal monetary policy should normalize as quickly as possible. Draghi and the ECB, as the director of Bocconi's Department of Economics, Donato Masciandaro, explains in this video, have opted for the reduction of expansive monetary policy, but reserved themselves the right to reverse the course in the event of a change of economic conditions. A flexible rule that allows the ECB to deal with unexpected shocks
EMA Headquarters to Milan, the Reasons in Favor
The European Medicines Agency (EMA) leaves London because of Brexit and is looking for a new home. And Milan is among the 19 candidate cities. But is there any chance that the capital of Lombardy will be chosen? Milan has many possibilities, explains in this video Giovanni Fattore, especially for two reasons: first, it hosts in its territory many important pharmaceutical companies and research institutes that could interact effectively with EMA; secondly, it is a city with a great quality of life and very well connected to the rest of Europe, important features since many people from other nationalities who work in EMA will have to move to their new home. Becoming EMA's headquarters would also be a great opportunity for Milan to strengthen its vocation in the field of life sciences.
A divided Bundestag, a danger for Europe
The results of the German elections were in part anticipated, with Angela Merkel's victory, and in part a novelty, with the heavy defeat of the Socialist Party. Results which make it difficult for the Chancellor to create a truly cohesive coalition, with six parties represented for the first time, and which is internally divided over the theme of European integration. The first test will be the response that Merkel will give to the proposals on European integration that Macron should submit tomorrow, September 26. Moreover, as explains in this video Carlo Altomonte, following the sentence of the German Constitutional Court, all decisions taken by the government under the European Stability Mechanism have to be endorsed by the Bundestag and will therefore be the result of a very heated and divisive debate
The solution? A federal Spain
From a legal point of view, the central government of Madrid has all the reasons for blocking the Catalan referendum on October 1. But from a political point of view, it would be better to loosen the tension and start a real confrontation between the parts that leads to a review of the constitution and the transformation of Spain into a true federal state. Even if the negotiations, as explains in this video Justin Frosini, should have started three years ago
Fashion Week, an Edition Inspired by New Influences
A Fashion Week, the one just started, that highlights the renewal of the sector. Three, in particular, are the signs of this renewal, explains in this video Stefania Saviolo: the hosting in parallel of male and female fashion shows, their mixing and overlapping which replaces the usual strict separation; the great increase, especially thanks to the new media and the web, of influencers, ie those who decree the positive or negative destiny of a collection; the emergence on the market of new designers from countries, such as China, which until a few years ago were exclusively buyers of our products
Single Currency for All the Member States and a European Finance Minister: Juncker's Recipe for EU
At a time when other actors are playing separatist and isolationist roles, the President of the European Commission is calling on Member States to strive for greater cohesion, not least by strengthening economic and monetary union and adopting the Euro across the board, as envisioned in the Treaties. Juncker praises Italy for its behavior in managing migratory flows and urges member states to adopt new policies in this regard.
Brexit, for the UK the solution could be a similar agreement to that between the EU and Canada
The dreaded contagion effect hasn’t occurred - on the contrary, as the elections in Austria, the Netherlands and France have shown, the growth of populism has been rejected or contained. The United Kingdom, one year after the referendum, has recorded economic growth, albeit less than what would have happened without Brexit, while Europe has grown at even higher rates, even higher than those of the US. And, as Carlo Altomonte says in this video, the negotiations have started off on the right foot, without rigidity and without raising walls, leaving open the hope that the process can end without any particular tremors