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Professional traders need to process a large amount of visual information in their daily activity to judge how risky it is to trade specific investment products. Despite some studies investigating the effects of display clutter on traders, visual attention and memory were never investigated in controlled experimental tasks in this population. Following a preliminary study with 30 participants, visual selective attention and visual working memory were measured and compared between two groups of 15 traders and 15 non-traders (salespeople, acting as a control group) from a large-scale banking group in three experimental tasks measuring selective attention in complex visual contexts, simulating display clutter situations (Visual search), cognitive interference (Stroop task), and a delayed recall visual working memory task. In the Visual search task, traders displayed a better Inverse Efficiency Score (IES) than non-traders for small display sets, while their performance overlapped for large sets. In the Stroop task, traders showed better IES than non-traders but were nevertheless affected by cognitive interference. The memory task highlighted no significant differences between the groups. Therefore, this study found an advantage in traders’ attention when processing visual information in small sets with no retention. This result could influence trading activity - determining an immediate use of relevant visual information in decision making - and traders’ display layout organization.

Purpose Many decision rules are rational but opaque, and many others are irrational but transparent. This paper aims to propose a theoretical framework to operationalize opacity in decision-making – the degree to which a decision rule is intelligible to the decision maker. Design/methodology/approach The authors operationalize opacity and discuss the implication of opaque decision-making in organizational settings through a typology, where decision rules can be rational or irrational and opaque or transparent. Findings The authors show that opacity is asymmetric as different organizational actors possess different degrees of knowledge about how the decision rules work. Organizational actors often opacify the decision rules to increase their power (based on asymmetric knowledge). Opacity also presents a significant impact on organizational accountability, as transparent organizations are more reputable. Originality/value This contribution represents the first theoretical and methodological articulation of opacity in decision-making, within a bounded and ecological rationality framework; it also sheds new light on the role of cognitive biases in organizational settings.

A long tradition of research has shown that personality traits, such as extraversion and agreeableness, and interpersonal constructs better predict job performance with a tacit but not explicit distinction in sales marketing activities. In this contribution, we aim to understand the role of job-related and interest data, interpersonal, and personality traits in affecting either inbound or outbound marketing activities and the overall sales performance. An original questionnaire integrates the interpersonal traits and personality factors reported in the literature in sales marketing activities (independent variables). The results were matched with the individual job-related and interest data (control variables) and sales performance (criterion variables) - expressed as the total number of closed contracts over the inbound/outbound related contacts of employees with responsibility in marketing activities for a large banking group. We are able to identify the relevant predictors of sales performance by creating full binary trees using control and independent variables in conditional inference forests and variable importance index measures. Higher performers in either inbound or outbound marketing activities rely on distinct personality sub-traits, which have fundamentally essential implications for interpersonal functioning, and personal data when agreeableness is central to the ability to function effectively in the interpersonal realm of sales activity.

This study explores the downsizing propensity of family and non-family firms by considering their territorial embeddedness during both periods of economic stability and financial crisis. By drawing on a panel dataset of Spanish manufacturing firms for the period 2002–2015, we show that, all things being equal, family firms have a lower propensity to downsizing than non-family firms. When considering the effect of territorial embeddedness, we found that territorially embedded family firms have an even lower propensity to downsizing than their non-family counterparts. Furthermore, the concern of territorially embedded family firms for their employees’ welfare was particularly pronounced during the years of the global financial crisis. This result is explained by the existence of socially proximate relationships with the firms’ immediate surroundings, based on similarity and a sense of belonging, which push deeply rooted family firms to treat their employees as salient stakeholders during hard times. Overall, our study stresses the importance of local roots in moderating the relationship between family firms and downsizing.

The empirical evidence of family business phenomenon in terms of employment outcomes is contradictory highlighting the micro–macro gap in the existing research. To address this contradiction, our study disentangles the role of context in family firms’ employment outcomes. To do so, we conduct a systematic literature review of 67 articles focusing on three employment-related outcomes—namely, growth, downsizing, and quality of labour—published in peer-reviewed journals from 1980 to 2020. Based on a two-by-two framework to classify this extant research, we unpack what we know about family firms and employment outcomes and where we can go from here. We highlight three main findings. First, current research is context-less since has mainly focused on the firm level in one context (i.e., region or country) and there is a lack of studies comparing family firms’ employment outcomes in different contexts and explicitly measuring the effects of contextual dimensions on family firms’ employment outcomes. This context-less approach could explain the conflicting results and lack of theoretical predictability about the family effect on employment across contexts. Second, the lack of understanding of the context in which family firms dwell highlights the need for future research to focus on context by theorizing about employment outcomes—that is, measuring context and its interactions with family- and job-related variables. Third, there is a need to further explore, analyse, and theorize on the aggregate effect of family firms on employment outcomes at different level of analysis (e.g., local, regional, and national).

PurposeThis study investigates the relationship between family-managed firms and firm employment growth by considering the effects of location and economic crisis as moderating variables.Design/methodology/approachThe study uses random-effect models on a large panel dataset of Spanish manufacturing firms covering 2003 to 2015 to estimate the joint effects of municipality size and economic crisis on firm employment growth.FindingsThe analysis reveals a positive association between family-managed firms and employment growth. However, this association is not uniform across space and time. When it considers location, the study finds that municipality size positively affects employment growth in family-managed firms but not in non-family firms. Additionally, while the study reveals that both firm types experience negative employment growth during the early stage of the global economic crisis (2007–08), it also finds that family-managed firms located in small municipalities downsize less than their non-family counterparts.Originality/valueThis study provides new evidence on the resilience of family-managed firms during economic crises, particularly those located in geographically bounded settings, such as small municipalities. When an adverse event, such as an economic crisis, jeopardizes employment levels, the embedded and trust-based relationships, between a family firm and its community leads them to prioritize employees' claims. However, family-managed firms' commitment to preserve jobs in small municipalities cannot be maintained over the long term; this effect disappears if the economic crisis is protracted. This study sheds new light on family-managed firms' distinctive behavior toward with local communities.

By combining arguments from regional economics and family business research, the aim of this article is to test the relationships among local export spillovers, management characteristics, and expo...

The COVID-19 evolution has forced the massive introduction of homeworking (HW) for most employees in the initial stages of the pandemic and then return to work, mainly due to the vaccination campaign. These multiple abrupt adjustment demands in work may be a source of intense stress for office workers with consequences on wellbeing and the quality of life. This long-term prospective study aimed at investigating the effect of adaptation demands on a broad population of employees of a large Italian banking group in the job-related stress framework. We administered a web-based survey to 1,264 participants in Reopening after the first lockdown, from June to October 2020, at 841 subjects in Second Wave, corresponding to the rise of contagions from November 2020 to January 2021, and to 491 individuals in Vaccination Round, which ranged from February to June 2021. We assessed workaholism by using the Dutch Work Addiction Scale (DUWAS-10), work-family conflicting overlap by using the Work and Family Conflict Scale (WAFCS), and concern for back to work (BW) and for HW by specific questions. Higher WAFCS scores characterized Reopening and Vaccination Round while Second Wave had the highest level of concern for HW. Women and younger individuals showed the highest concern for BW, WAFCS, and DUWAS-10 scores regardless of the pandemic stage. HW days per week were related to more heightened concern for BW and lower concern for HW, DUWAS, and WAFCS scores. The number of children was related to lower Concern for BW and higher WAFCS scores in Reopening and Second Wave. Our data showed that massive adjustment demands in work and family routine represented a significant source of stress for employees, regardless of the different pandemic stages. The highest level of fatigue emerged in women and younger subjects. These results shed light on the need for a road map to promote a gradual and structured adjustment for workers and encourage organizations to consider homeworking as a valid stable alternative.

Mindfulness interventions were shown to be effective in improving well-being and reducing perceived stress in several conditions. These effects were also found in online mindfulness-based training, especially on employees in organizational environments. The aim of this study was to test the effectiveness of online mindfulness intervention on healthy employees especially after the first Italian Covid-19 lockdown.Participants in the intervention group underwent an 8-week mindfulness online training program based on the Mindfulness-Based Stress Reduction (MBSR) protocol compared to a control (no-intervention) group. All participants filled in weekly surveys for the whole intervention duration via online questionnaires to measure their habits, mindfulness (FFMQ-15), emotion regulation (ERQ), positive and negative affect (PANAS), depression, anxiety and stress (DASS-21), resilience (RSA) and insomnia (ISI). 46 participants in the intervention group and 54 in the control group completed at least half of the weekly questionnaires and were considered in the longitudinal analyses. We found significant differences between the intervention and control groups over time in the measures of mindfulness (in particular the nonreactivity subscale), positive affect, depression, and insomnia. Moreover, we found that the frequency of practice and ease perceived in practicing were positively correlated to several indices of well-being (mindfulness, positive affect, cognitive reappraisal) and negatively correlated to several indices of stress (negative affect, depression, anxiety, stress, insomnia, expressive suppression). These results show the importance and effectiveness of online mindfulness training programs to cope with stress among employees, especially after the Covid-19 lockdown.

This study is one of the first aiming at investigating the mental health in the post-lockdown period in an Italian adult population and detecting demographic and psychological predictors for a worse outcome. 1401 participants answered a web-based survey including the Emotional Reaction Questionnaire (ERQ), the Positive Affect and Negative Affect Scale (PANAS), the Impact of Event Scale-Revised (IES-R), the General Health Questionnaire (GHQ), the Depression, Anxiety and Stress Scale (DASS-21), and the Dutch Work Addiction Scale (DUWAS). Simple slope analyses highlighted that women, lower age, and suppression were related to higher scores for the PANAS negative affect scale, the DASS-21, the IES-R, the GHQ, and the DUWAS. In our sample, 1.2% of participants showed depressive symptoms, 0.5% anxiety symptoms, and 2% stress symptoms. Moreover, 5.4% of participants reported post-traumatic symptoms and 15% signs of psychological distress. Compared with data on the lockdown period, our results show lower levels of depressive, anxiety, and stress symptoms, possibly due to the slackening of preventive measures adopted since June. Despite this, post-traumatic symptoms and signs of psychological distress were still present. Our data suggest the necessity to monitor psychological adaption over time in general and at-risk subjects.

In 2015, the United Nations established 17 Sustainable Development Goals (SDGs) to be reached by 2030. They are aimed at all members of society, including businesses, which could integrate SDGs within their Corporate Social Responsibility (CSR) strategies. As family firms constitute the most widespread form of business, understanding the factors that drive the decisions to pursue SDGs is essential. Thus, this research aims to understand why a family firm complies with SDGs. Additionally, it examines how SDGs enter, at the strategic level, activities and management practices. Following the case study method, the paper focuses on a family firm based in Italy, by means of documentary analysis, semi-structured interviews, and online data. In line with the Socioemotional Wealth (SEW) theory, family and personal values are crucial. While SDGs are only now entering the strategic level, their rationale has always been part of the family values, and the firm’s culture. The selected firm is pursuing ten Goals. SDGs serve as a further motivator for family firms to behave more responsibly, meaning that they help to align the firm’s strategy with the global challenges, building on existing family and firm’s values. \ud Our paper brings several contributions to the family business, CSR and SDGs literature, providing a representation of the reasons why a family firm pursues SDGs and the first reaction phases to SDGs. It brings practical implications for policymakers, highlighting the role of family values as the main drivers of the choice to invest in SDGs. By providing unique evidence, it is the first to connect the family business literature, CSR and SDGs.

BACKGROUND Mindfulness practice consists of “paying attention on purpose, in the present moment, and nonjudgmentally to the unfolding of experience moment by moment”. Mindfulness training was shown to be effective in improving well-being and reducing perceived stress in several conditions. These effects were also found in online mindfulness-based training, especially on employees in organizational environments. OBJECTIVE The aim of this study was to test the effectiveness of online mindfulness training on healthy employees especially after the first Italian Covid-19 lockdown, when the measures to prevent contagion were loosened, but the second wave was starting again to emerge. METHODS Participants in the training group underwent an 8-week mindfulness training based on the Mindfulness-Based Stress Reduction (MBSR) protocol compared to a control (no-intervention) group. A new practice was presented each week by two trainers, who were also available for Q&A on a weekly basis. All participants filled in weekly surveys for the whole training duration via online questionnaires to measure their habits, mindfulness (FFMQ-15), emotion regulation (ERQ), positive and negative affect (PANAS), depression, anxiety and stress (DASS-21), resilience (RSA) and insomnia (ISI). 46 participants in the training group and 54 in the control group completed at least half of the weekly questionnaires and were considered in the longitudinal analyses. RESULTS We found significant differences between the training and control groups over time in the measures of mindfulness (in particular the nonreactivity subscale), positive affect, depression, and insomnia. Moreover, we found that the frequency of practice and ease perceived in practicing were positively correlated to several indices of well-being (mindfulness, positive affect, cognitive reappraisal) and negatively correlated to several indices of stress (negative affect, depression, anxiety, stress, insomnia, expressive suppression). CONCLUSIONS These results show the importance and effectiveness of online mindfulness training to cope with stress among employees, especially after the Covid-19 lockdown, a period of great uncertainties and psychological tension.

Massive offloading of organizational knowledge onto information systems is often maladaptive, generating digital amnesia. How to enhance cognitive memory through virtual reality represents an issue emerging in translational cognitive neuroscience research, which has never been investigated in organizational settings. We analyze the efficacy of a virtual memoryscape — an immersive virtual environment used by subjects as a shared memory tool based on spatial navigation — with respect to a traditional individual-specific mnemonic method (the well-known ‘method of loci’). A memory task characterized by high ecological validity was administered to 82 subjects with responsibilities in a business unit of a large banking group. Results suggest that enhancing memory through virtual memoryscape is an effective way to counterbalance the maladaptive consequences of massive offloading of information in organizations. As compared to traditional methods, the virtual memoryscape presents the advantages of being collective, controllable, dynamic, and non-manipulable.

The Covid-19 pandemic caused disruptive effects for individuals, firms, and societies. In this paper, we offer insights on the major issues and challenges firms are facing in the Covid-19 pandemic, as well as their concerns for Corporate Social Responsibility (CSR) themes. To do so, we investigate large Italian firms' discussion on Twitter in the first nine months of the pandemic. We downloaded all Twitter posts from 1st of March, 2020, to 17th of November, 2020 by the accounts of the largest Italian firms, i.e. those with 250 or more employees. We then built the bipartite network of accounts and hashtags and, using an entropy-based null model as a benchmark, we projected the information contained in the network into the accounts layers, identifying a network of accounts in which a link indicates a non trivial similarity in terms of their usage of hashtags. We find that the conversation is focused around 13 communities, 10 of which include Covid-19 themes. The core of the network is formed of 5 communities, which deal with environmental sustainability, digital innovation and safety. Firms' ownership type does not seem to influence the conversation. 10 communities out of 13 mention hashtags related to CSR, with the environmental and social dimensions as the prevalent ones. Interestingly enough, the social dimension seems more relevant in the communities dealing with digital innovation and safety. However, the relevance of CSR hashtags is very small at the single message level, but with some peculiarities arising in specific communities. Overall, our paper highlights the role of network methods on Twitter data as a tool which can support managers and policy makers to design their strategies and decision making, capturing firms' emerging issues and relevant themes., 30 pages, 4 figures

The object of this paper is the “Loccioni Leaf Lab”, an industrial nZEB connected to a thermal and electric smart grid. Having nZEB buildings connected to a smart grid offers the possibility of maximizing the benefits that can be obtained by optimal regulation of the grid itself, providing excellent economic and energy results. The case study, which hosts offices and workers operating on test benches, features high performance envelope, solar photovoltaic systems, groundwater heat pumps and a hightechnology control and monitoring system. In order to analyse HVAC-related energy consumptions, the building was modelled using DesignBuilder and EnergyPlus software. The annual dynamic simulations for the assessment of building thermal-energy performance were carried out using available monitored weather data (2019). The model was validated according to ASHRAE guidelines, comparing the outputs of the software with data collected and stored by Company internal database. In the validation process, mean indoor air temperatures of several zones and heating and cooling energy consumptions were considered as key outputs. The validated model has then been used to suggest optimization strategies and to analyse the results obtained with proposed interventions in terms of energy saving.

PurposeA burgeoning body of evidence points out the importance of spatial proximity in influencing firm efficiency besides internal characteristics. Nevertheless, the family status of the firm has been traditionally overlooked in that debate. Therefore, this study aims to investigate productivity spillovers stemming from the geographical closeness to innovators and family firms.Design/methodology/approachUsing secondary data on Italian technology-intensive manufacturing firms, the paper exploits spatial econometric models to estimate productivity spillovers across firms.FindingsAs regards the presence of spatial dependence, this study reveals that a firm's level of efficiency and productivity is influenced by that of nearby firms. Specifically, three main results emerge. First, spatial proximity to innovators is beneficial for the productivity of neighbouring firms. Second, closeness to family firms is a source of negative externalities for spatially proximate firms. However, and this is the third result, the adverse effect vanishes when the nearby family firms are also innovators.Research limitations/implicationsAs the study relies on cross-sectional data, future research should explore productivity spillovers in a longitudinal setting. Additionally, the channels through which productivity spillovers occur should be measured.Practical implicationsThe study highlights the importance of co-location for public policy initiatives to strengthen the competitiveness of firms and, indirectly, that of localities and regions. Moreover, the findings show the crucial role of innovation in mitigating the productivity gap between family and non-family firms.Social implicationsNotwithstanding the advent of the digital era, spatial proximity and localized social relationships are still a relevant factor affecting firms' performance.Originality/valueBy exploring the role of family firms in influencing the advantages of geographical proximity, this study contributes to the growing efforts to explore family enterprises across spatial settings.

This article explores the complex relationship between family firms and talent management practices. We use an international sample of medium-sized manufacturing firms to show that the relationship between family-owned firms and investment in talent management practices is mediated by the firm's level of risk aversion, which is, in turn, moderated by industry competition. Risk-averse family-owned firms tend to invest less in talent management practices when industry competition is weak. In contrast, when competition increases, family-owned firms tend to invest in talent as much as non-family-owned firms do.

The frontal alpha asymmetry (FAA) is a neurophysiological measure of motivation and preference. Despite the FAA is associated to commercial pleasantness, conflicting evidence emerged in the literature regarding its relationship with behavior. To study the association between FAA and consumers' decision, we manipulated a commercial script to elicit diverse consumers' attitudes and decisions and to evaluate whether the FAA score is associated to their final investment. A little informative script (S1) was used to polarize consumers' attitudes and investments toward unfavorable scores, while a more personalized message (S2) to elicit in customers a favorable attitude and higher investments. Twenty-one participants listened to the scripts, and their FAA, attitude, and monetary investment were measured. In S1, the FAA did not correlate with neither attitude nor the investment decision, while a robust negative correlation between these variables was found in S2. No other peripheral body and neural measures associated with attitude or final decision. Our data suggest that the FAA correlates with attitude and decision, when a commercial script is customized and provides an adequate information, likely leading the consumer to a more reasoned and planned decision-making process. When facilitating a favorable attitude toward an offer, the negative correlation of FAA and behavior may reflect the involvement of a control system, whose role is to monitor and govern possible conflicts between approach and avoidance motivations. This observation provides additional indication on the value of FAA as a marker of consumer behaviors, and how it could be affected by experimental and contextual bias.

Previous literature has found that listed family firms underperform their nonfamily counterparts in terms of environmental performance, but has not explained why this occurs. We address this research gap by hypothesizing that training and development practices (i.e., managerial practices devoted to providing training and development for the workforce) mediate the relationship between family blockholders and environmental performance. Using a sample of 33,901 firm‐year observations from 2002 to 2016 distributed across 56 countries and employing the structural equation model technique, we find that investment in training and development practices explains almost half of the negative relationship between family blockholders and environmental performance. Our study contributes to the agency theory debate on principal–principal problems by explaining why family blockholders could damage other blockholders and minority shareholders.

According to a recent trend of research, there is a growing interest in applications of machine learning techniques to business analytics. In this work, both supervised and unsupervised machine learning techniques are applied to the analysis of a dataset made of both family and non-family firms. This is worth investigating, because the two kinds of firms typically differ in some aspects related to performance, which can be reflected in balance sheet data. First, binary classification techniques are applied to discriminate the two kinds of firms, by combining an unlabeled dataset with the labels provided by a survey. The most important features for performing such binary classification are identified. Then, clustering is applied to highlight why supervised learning can be effective in the previous task, by showing that most of the largest clusters found are quite unequally populated by the two classes.

Globalization phenomena and Information & Communication Technology (ICT) are producing deep changes worldwide. The economic environment and society where firms both cooperate and compete with each other are rapidly changing leading firms towards recognizing the role of intangible resources as a source of fresh competitive advantage. Experience, innovation and the ability to create new knowledge completely arise from the act of human resources inviting firms to focus on how to generate and shape knowledge. Therefore, the future of firms depends greatly on how managers are able to explore and exploit human resources. However, without a clear understanding of the nature of human beings and the complexity behind human interactions, we cannot understand the theory of organizational knowledge creation. Thus, how can firms discover, manage and valorize this "human advantage"? Neuroscience can increase the understanding of how cognitive and emotional processes work; in doing so, we may be able to better understand how individuals involved in a business organization make decisions and how external factors influence their behavior, especially in terms of commitment activation and engagement level. In this respect, a neuroscientific approach to business can support managers in decision-making processes. In a scenario where economic humanism plays a central role in the process of fostering firms' competitiveness and emerging strategies, we believe that a neuroscience approach in a business organization could be a valid source of value and inspiration for manager decision-making processes.

In recent years, a great deal of research has relied on hypothetical sacrificial dilemmas to investigate decision-making processes involved in pro-social utilitarian choices. Recent evidence, however, has suggested that moral sacrificial choices may actually reflect reduced harm aversion and antisocial dispositions rather than an utilitarian inclination. Here, we used moral dilemmas to confront healthy volunteers with controversial action choices. We measured impulsiveness and venturesomeness personality traits, which have been shown to influence harm aversion, to test their role in utilitarian action and evaluation of moral acceptability. The results of the present study show that, in males, venturesomeness drives engagement in actions and increases moral acceptability. In contrast, in females no effects of venturesomeness were observed on moral action and evaluation. Rather, in females empathetic concern and personal distress, elicited by the vicarious experience of the other's emotional states, exerted an inhibitory effect on action. Taken together, these findings indicate that the "harm aversion hypothesis" may contribute to explain utilitarian choices in males but not in females. In both genders, no association was observed between impulsiveness and moral action.

This article investigates the effect of corruption on the export share of family firms in Eastern European countries. Using the Business Environment and Enterprise Performance Survey and panel data methods, we find that, in contrast to non-family firms, family firms are rather sensitive to corruption. In particular, the export share of family firms is positively associated with informal payments that aim to facilitate business operations. There are at least three compelling explanations for these results. First, if family firms are more risk averse than non-family firms, informal payments may represent additional export risk insurance. Second, informal payments may help family firms compensate for the lack of managerial capabilities to export. Finally, when institutional inefficiencies obstruct business, corruption may be a tool for family firms to protect their socioemotional wealth.

Functional plasticity in rodent visual cortex has been intensively studied since the pioneering experiments of Hubel and Wiesel in the sixties. Nevertheless, the structural modifications underlying this phenomenon remain elusive. In this article, we will review recent data focused on the dynamic of excitatory and inhibitory synapses and their structural changes linked to functional modifications. We also review novel evidence on structural remodeling that promote functional plasticity and on the role of cytoskeleton modifications in experience-dependent plasticity of rodent visual cortex.

La storia della piccola medio impresa italiana e` caratterizzata da sempre dalla conduzione dell’attivita` a livello familiare. In tale contesto, risulta fondamentale prepararsi alla successione dell’attivita` svolta, per salvaguardare l’entita` che caratterizza e contraddistingue l’azienda stessa, nonche´ il suo futuro. Qualora i familiari dell’imprenditore presentino le stesse capacita` del loro predecessore, e vogliano partecipare alla gestione, si presentano delle problematiche inerenti il passaggio generazionale in tema di valorizzazione del patrimonio aziendale ed, in alcuni casi, entra in gioco la normativa che gestisce le transazioni familiari volte alla successione delle attivita` . Il seguente capitolo pone l’attenzione proprio su questi tipi di passaggi e su quanto disciplinato dalla legge in termini di passaggio generazionale all’interno delle imprese familiari, soffermandosi poi in particolare sull’introduzione del c.d patto di famiglia, volto a favorire il cambio intragenerazionale, sull’operazione di liquidazione ai soci uscenti, sull’attivita` di family buy-out e sulla disciplina dei contenziosi familiari all’interno dell’impresa, ponendo attenzione sulla disciplina della conciliazione.