Giulia Mennillo
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  • Publication
    The near-death experience of the Celtic Tiger : A model-driven narrative from the European sovereign debt crisis
    (Springer, 2013-11)
    Gärtner, Manfred
    ;
    Griesbach, Björn
    ;
    Mennillo, Giulia
    This article narrates Ireland's recent odyssey from the pride and envy of Europe to kneeling supplicant through the eyes of an econometric model of the government bond market. The exercise suggests that, in essence, two developments triggered and propelled Ireland's drift towards sovereign default: first, the global financial crisis that drove Ireland into a severe recession with collapsing tax revenues and increasing unemployment; second, a gap between the post-2007 increase in sovereign default risk that can actually be linked to macroeconomic fundamentals and the much bigger increase in perceived risk reflected by high interest rates and communicated by the massive downgrades of Ireland's sovereign debt rating.
    Type: journal article
    Journal: Intereconomics - Review of European Economic Policy
    Volume: 48
    Issue: 6
    DOI: 10.1007/s10272-013-0478-3
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/88518
    Scopus© Citations 3
  • Publication
    Type: book
    Volume: 4. Auflage
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/90098
  • Publication
    Balanced Growth : finding strategies for sustainable development
    (Springer, 2012)
    Binswanger, Hans-Christoph
    ;
    Sunde, Uwe
    ;
    Vischer, Thomas
    ;
    Kienzler, Daniel
    ;
    Kreutzer, Markus
    ;
    Oschlies, Melaniekatharina
    ;
    Nazarkina, Liudmila
    ;
    Rüdisser, Michèle F.
    ;
    Dwertmann, David J. G.
    ;
    Kunz, Justus Julius
    ;
    Roy, Friedemann
    ;
    Komba, Xaver Kazimoto
    ;
    Meissner, Felix
    ;
    Pieper, Cornelius
    ;
    Rubel, Holger
    ;
    Schädler, Jens
    ;
    Mennillo, Giulia
    ;
    Schlenzig, Thomas
    ;
    Friedrich, Elmar Konstantin
    What is balanced growth? This book shows that the definitions and implications of the concept of balanced growth vary significantly among the different disciplines in economic science, but are not exclusive at all. Terms such as sustainability or balanced growth have become buzzwords. In practice, they are often a desirable vision rather than an achievable objective. Why? Doubts may arise about the extent to which such concepts are compatible with a modern market economy. Is balanced growth possible at all? Is it reasonable to accept balanced growth as a norm? Why should a balanced growth path be a desirable strategy to pursue for policymakers, managers, employees, and other societal stakeholders? Empirical evidence suggests that the actual worldwide economic growth is not balanced at all. Meanwhile, ever since the beginning of the financial and economic crisis in 2007 and its accompanying spillover effects, our globalizing world has uncompromisingly shown the flip side of its coin. Its crisis-prone character has intensified the discussion about our economic system's sustainability. Questions related to acceptable sovereign debt levels, suitable trade deficits and surpluses, firms' growth targets, resource management and efficiency have aroused high interest. What is the cause of the observed imbalances? In our opinion, this debate must involve rethinking the qualitative and quantitative dimension of our present understanding of the nature of economic growth. This book accompanies the 9th DocNet Management Symposium of the University of St. Gallen, Switzerland. It contains contributions of the symposium's panel speakers, renowned authors to the field and young researchers. The Ph.D. students' and post-doctoral association DocNet organizes the DocNet Management Symposium on a yearly basis with the goal to foster exchange between academia and practitioners.
    Type: book
    DOI: 10.1007/978-3-642-24653-1
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/92300
  • Publication
    HR strategies for balanced growth
    (Springer, 2012)
    Dwertmann, David J. G.
    ;
    Kunz, Justus Julius
    ;
    Mennillo, Giulia
    ;
    Schlenzig, Thomas
    ;
    Friedrich, Elmar Konstantin
    In order to fulfill the expectations of shareholders, growth has become an in-evitable imperative for most companies. However, growth is always associated with increased complexity. Additional resources, especially human capital re-sources, are necessary to master this added complexity. Companies can satisfy this demand by either recruiting new employees, or by increasing their current personnel's efficiency. However, in times of extreme talent bench shortfall and rapidly increasing burnout statistics, HR departments are facing serious challenges. Firms may not be able to recruit the necessary talent, may dilute the company's culture and identity through intense recruitment within short periods, or may overload their current personnel quantitatively or qualitatively. This chapter outlines how companies can master these challenges through strategies such as: expanding the recruitment population, becoming a desired employer, recruiting very deliberately, prioritizing tasks and services, and, finally, interlinking strategic human resource management and high performance work systems' activities. By applying these strategies, companies can avoid the risks of excessive growth. Instead, they can capitalize on times of growth, establishing sustainable or balanced growth in order to get ahead of their competitors.
    Type: book section
    Issue: Bd. 9
    DOI: 10.1007/978-3-642-24653-1
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/92380
  • Publication
    Selecting the right growth mechanism : The choice between internal development, strategic alliances, and mergers & acquisitions
    (Springer, 2012)
    Kreutzer, Markus
    ;
    Mennillo, Giulia
    ;
    Schlenzig, Thomas
    ;
    Friedrich, Elmar Konstantin
    When seeking to realize growth strategies, firms have three choices: internal development, alliances, and mergers & acquisitions. However, how to choose be-tween these growth mechanisms is, however, not well-understood in practice. Managers seldom sufficiently strategically analyze this critical first step in any growth-related decision process. Instead, many managers commonly base their decision on "gut-feel" or simply follow successful traits. This chapter offers a framework to systematically guide managers in their choice of growth mecha-nisms. Four sets of factors should be simultaneously considered to decide on when to make, buy, or ally: the environment, the target, the growth strategy, and company-related factors. By systematically analyzing each growth mechanism's context-specific advantages and disadvantages, firms may avoid mistakes that could not be compensated for in later implementation phases.
    Type: book section
    Issue: Bd. 9
    DOI: 10.1007/978-3-642-24653-1_6
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/92642
    Scopus© Citations 3
  • Publication
    Boards' contribution to organizational growth : Effectiveness as a critical success factor
    (Springer, 2011)
    Sutter-Rüdisser, Michèle F.
    ;
    Mennillo, Giulia
    ;
    Schlenzig, Thomas
    ;
    Friedrich, Elmar Konstantin
    As a guardian of corporate values, boards are not only ultimately responsible for organizations' strategic direction, but also play a decisive role concerning balanced growth. However, not all boards place equal emphasis on identifying and populating strategic growth opportunities. Instead of leaving everything to management, board members could make a difference by becoming more actively involved in a company's affairs. In order for a board to be management's true strategic partner, it is of prime importance that board members show a strong personal commitment to their work. Consequently, it is crucial to make sufficient time available for individual board mandates and to ensure effective working procedures when working as a group. To improve the quality of board involvement and foster organizational growth, each board member could, for instance, be asked to regularly submit innovative ideas for the board's agenda and to vigorously contribute to the list of key strategic decisions that need to be made. The emphasis should not be on mere augmentation of growth percentages, but rather on having an enduring and sustainable impact. A further critical success factor to enhance board effectiveness is innovative succession planning. Heterogeneity is specifically considered a future competitive company advantage. A favorable and worthwhile option for the board's succession planning is therefore to "think out of the network" instead of being comfortable with well-tried and traditional search methods. Furthermore, rigorous performance appraisal is crucial for effective board work. Consequently, board evaluation has become an integral part of good corporate governance. By maximizing strengths and highlighting areas for further development, board members are continually urged to reflect on how to continually improve their working procedures as well as their underlying performance.
    Type: book section
    DOI: 10.1007/978-3-642-24653-1
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/95455
  • Publication
    The near-death experience of the Celtic Tiger : A model-driven narrative from the European sovereign cebt crisis
    (School of Economics and Political Science, 2013-09-23)
    Gärtner, Manfred
    ;
    Griesbach, Björn
    ;
    Mennillo, Giulia
    We narrate Ireland's recent odyssey from the pride and envy of Europe to kneeling supplicant through the eyes of an econometric model of the government bond market. The exercise suggests that, in essence, two developments triggered and propelled Ireland's drift towards sovereign default: first, the global financial crisis that drove Ireland into a severe recession with collapsing tax revenues and increasing unemployment; second, a gap between the post-2007 increase in sovereign default risk that can actually be linked to macroeconomic fundamentals and the much bigger increase in perceived risk reflected by high interest rates and communicated by the massive downgrades of Ireland's sovereign debt rating. [http://ideas.repec.org/p/usg/econwp/201321.html Volltext herunterladen]
    Type: discussion paper
    Issue: 2013-21
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/88688
  • Publication
    Ratings and Regulation: A Case of an Irreversible Marriage?
    (Weatherhead Center for International Affairs, Harvard University, 2014)
    Mennillo, Giulia
    ;
    Roy, Suryapratim
    What are the rationales for policymakers to rely on putatively disinterested actors such as credit rating agencies (CRAs) for financial regulatory input? This paper draws on perspectives from International Political Economy and Comparative Legal Studies to analyze the reasons behind the use and retention of external ratings as an indirect instrument of financial regulation. We find that allowing "market practice" to determine the relationship between ratings and regulation creates tautological justifications of the CRAs' authority, and raises compelling questions in terms of legitimacy. The purpose of this paper is to uncover the constitutive elements of the tacit acquiescence underlying the subordination to CRA ratings in regulatory matters. The examination of possible conceptualizations of legitimacy may help conduct further inquiries into the politics of technocracy.
    Type: working paper
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/87930