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The purpose of this paper is to point to the inefficiency of the Italian educational system as a key factor of persistent differences between the distribution of incomes (skewed) and that of talents (normal), stated in the Pigou paradox. In fact, against the intention assigned to it by the Italian constitution, the educational system is designed in such a way to reinforce, rather than weaken, the current unequal distribution of incomes.

The authors study the socio‐educational background of AlmaLaurea graduates by way of correlation and regression analysis. The AlmaLaurea databank is the most important source of statistical information of its type in the country. The authors, consider several indicators of performance, such as the probability of getting a degree, the final grade achieved and the length of studies.

Parents’ educational level appears to be the main determinant of the grade achieved at secondary high school and at the university. The effect of family background on children's success at the university is not direct, but through the high school track. In fact, although any secondary high school gives access to the university, nonetheless lyceums provide students with far higher quality of education than technical and professional schools. Parental background affects also the length of studies, which suggests that the indirect cost of tertiary education is much higher for those with a poorer educational background and limited means.

Increasing the average educational level was one of the promises of the “3+2” university reform implemented in 2001. This objective has been achieved only in part, due to the continuing high indirect cost of tertiary education, which particularly affects individuals with limited means. More coordination in the interpretation and implementation of the aims of the reform would have prevented the main actors of the reform from failing it. School tracking should be reformed so as to allow more consideration for low school grades in the choice of parents and provide more on‐the‐job training to students in the professional/technical schools.

The paper proposes an interpretation of the Pigou paradox in Italy, based on the inefficiency of the university system, due to the peculiar school tracking and the ensuing high indirect cost of education. On this, the paper provides new circumstantial evidence based on the AlmaLaurea database almost ten years after the “3+2” reform.

The focus is the interplay of cognitive capabilities (mathematical understanding and heuristic problem solving) and learning from feedback. Furthermore, the authors analyze the role of individual factors in designing appropriate feedback systems for complex decision-making situations. Based on a learning model the purpose of this paper is to present an experimental study analyzing the feedback effectiveness in a repeated complex production planning task. Referring to individual characteristics in terms of educational background and problem solving capabilities of the decision maker the authors compare different forms of feedback systems.

The authors performed four experiments bi-weekly based on a realistic production planning situation. Participants received – depending on the treatment – different types of feedback concerning the final outcomes of the production plans. For testing the hypotheses, the authors conducted ANCOVAs and additional post hoc tests for each subgroup to explore the effects of different types of feedback on the subgroups’ decision-making performance.

The authors show that feedback information is not always helpful, but due to acquired knowledge and problem solving capabilities can even be harmful. The authors also show that, depending on the decision maker’s individual characteristics and her past performance, the type of feedback is crucial for the learning process.

The study provides important information about feedback design taking individual characteristics of decision makers (educational background, work experience) into account. Applying the results of the study can increase decision-making performance and enhance learning of production planning tasks.

The findings extend previous literature reporting that the performance in complex decision-making tasks depends on educational background and on the ability to cope with the phenomena of cognitive load, working memory limitations and the capability to utilize relevant heuristics to prevent information overload. Some of our results, e.g., the negative impact of non-financial feedback of high-performing economists, contradict the general findings in the literature.

According to status construction theory, a social attribute becomes imbued with status value through its association with valued resources. Yet, explanations for such associations have received scant attention. I propose that social identity processes may lead agents controlling resources to over-allocate to in-group members. This generates a doubly dissimilar situation in which actors are differentiated both with respect to a nominal characteristic and resources, leading the characteristic to become imbued with status value. I find support for this elaboration in a sample of newly founded organizations. I discuss the implications of this elaboration for further developments in status construction theory.

This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA.

In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem.

This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship.

These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region.

This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.

In their authoritative literature review, Breen and Jonsson (2005) claim that ‘one of the most significant trends in the study of inequalities in educational attainment in the past decade has been the resurgence of rational-choice models focusing on educational decision making’. The starting point of the present contribution is that these models have largely ignored the explanatory relevance of social interactions. To remedy this shortcoming, this paper introduces a micro-founded formal model of the macro-level structure of educational inequality, which frames educational choices as the result of both subjective ability/benefit evaluations and peer-group pressures. As acknowledged by Durlauf (2002, 2006) and Akerlof (1997), however, while the social psychology and ethnographic literature provides abundant empirical evidence of the explanatory relevance of social interactions, statistical evidence on their causal effect is still flawed by identification and selection bias problems. To assess the relative explanatory contribution of the micro-level and network-based mechanisms hypothesised, the paper opts for agent-based computational simulations. In particular, the technique is used to deduce the macro-level consequences of each mechanism (sequentially introduced) and to test these consequences against French aggregate individual-level survey data. The paper's main result is that ability and subjective perceptions of education benefits, no matter how intensely differentiated across agent groups, are not sufficient on their own to generate the actual stratification of educational choices across educational backgrounds existing in France at the beginning of the twenty-first century. By computational counterfactual manipulations, the paper proves that network-based interdependencies among educational choices are instead necessary, and that they contribute, over and above the differentiation of ability and of benefit perceptions, to the genesis of educational stratification by amplifying the segregation of the educational choices that agents make on the basis of purely private ability/benefit calculations.

The aim of this article is to explore the phenomenon of gifted migrants in vocational training and education. To date, migrant apprentices have been predominantly discussed from a deficit perspective. Special attention has been given to competence insufficiency and underperformance, as well as to migrant adolescents’ lack of professional and educational attainment. However, recent research points to a social group of migrants who are successful educational and professional achievers.

The article at hand discusses five theoretical models commonly applied to explain underachievement among migrant adolescents. It then examines these models’ explanatory power to predict migrants’ educational success. To conclude, the research parameters and theoretical framework of a Swiss longitudinal study designed on the basis of these findings is presented.

Educational research has increasingly focused on migrants, as well as on vocational education and training. However, what resulted from existing research is a predominantly unfavorable image of migrant apprentices that exclusively portrays them as so called “educational losers” of socio‐economically and culturally disadvantaged backgrounds. Based on theoretical explanatory models, a number of assumptions were extracted to show how educational success among migrants could be explained and whether resilience factors play a role in it. From the resilience perspective, professional success of migrant apprentices is likely to result from a stable, long‐term attachment figure or mentor who served as a role and identification model and was of significant importance in the adolescents’ workplace, for example as professional mentor. Furthermore, it is expected that educational facilities, in particular vocational training institutions, must have excelled in demanding high educational achievement, providing clear organizational and management structures, and high teaching quality as well as good instructor‐learner relationships.

As has been shown, educational research has increasingly focused on migrants, as well as on vocational education and training. However, what resulted from existing research is a predominantly unfavorable image of migrant apprentices that exclusively portrays them as so called “educational losers” of socio‐economically and culturally disadvantaged backgrounds. This implies that educational and professional success is not attainable for youths from disadvantaged families. On the other hand, successful migrant careers have been exemplarily portrayed; systematic research however is scarce and virtually non‐existent in German‐speaking academia. The lack of educational policy debate about successful migrants is probably a result of this research gap.

This study aims to examine the impact of chief executive officers’ (CEOs’) personal characteristics on firms’ risk taking and the moderating role of family ownership on this relationship.

This study used 2,647 firm-year observations of non-financial firms listed on Pakistan Stock Exchange over the period 2013–2021. To test the hypotheses, the authors used ordinary least squares regression and, to resolve the possible endogeneity problem, the authors used system generalized method of moments technique.

Drawing insights first from upper echelons theory, the authors report that CEOs with business, economics, finance and/or management educational background and female CEOs reduce firms’ risk-taking behaviour. Further, using insights from social and organizational identity theoretical perspectives, the results indicate that due to strong family affiliation and organizational identity, family owners exhibit risk aversion behaviour and moderate this relationship.

This study provides novel evidence of risk averse behaviour of CEOs with business, economics, finance and/or management educational background and female CEOs along with moderating impact of family ownership on this relationship in an emerging economy. Overall, the results extend empirical support for upper echelons and social identity theories in an emerging market context.

This study aims to investigate the impact of extensive board diversity on firm performance from the perspective of resource-based view (RBV) theory in the context of Pakistan.

The analyses are made using a panel random-effects model and generalized method of moment (GMM) across 188 non-financial firms listed in the Pakistan Stock Exchange (PSX) over the period of 2009–2020. The robustness of findings is checked through alternative measurements of the variables and alternative estimation techniques.

The results show that board members' nationality, ethnicity and educational level diversities are significantly positively related to firm performance. In contrast, age and educational background diversities negatively affect firm performance. However, gender and tenure diversities have an insignificant relationship with firm performance.

This study is conducted in the context of Pakistani firms; thus, the findings may not be generalizable to other economies because different economies have different institutional settings and governance structures.

The policy-makers should encourage the inclusion of board members' nationality, ethnicity and educational level diversities having relevant educational backgrounds to improve firms' competitive performance. The suggested structure of the corporate board may improve firm performance by attracting multiple stakeholders and fulfilling their expectations.

The appointment of a director should be based on merit rather than on political connections or personnel relationships to improve social welfare and avoid their negative impact on firm competitive performance.

To the best of the authors' knowledge, this is the first study that investigates the impact of board diversity on firm accounting-based performance and market-based performance in the emerging economy of Pakistan. This study uses RBV theory to provide a unique corporate governance structure based on board diversity, particularly in Pakistan.

In this chapter, we present two examples of research projects aimed at amplifying voices that are often silenced in research: those of children and/or youth from refugee backgrounds. Refugees are often excluded from research for both ethical and practical reasons: because of their assumed vulnerability as well as the challenges related to language or access. In the research projects presented, we aimed to employ methods that suited these groups of children and youth to understand their experiences in ways that they wanted to express them, and in situ. We argue that starting from, and finishing with, the point of view of the knowledge holders illustrates one means (although not exclusively so) by which to amplify their voices and knowledge to counter epistemic injustice in educational research.

There is an intersection between the global refugee crisis and higher education within the context of the United States. This chapter provides an overview of emerging trends in refugee migration and internal displacement, reviews the historical approach to refugee resettlement to the United States, and offers a discussion of the relationship between K-12 schools and the United States higher-education structure. Data suggest that the majority of the refugee population resettled to the United States is below the age of 35 years, and is therefore most likely to engage with higher education. In the context of this chapter, refugees and those who have previously held refugee status, and interact with the higher-education system, are referred to as “students from refugee backgrounds.” Students from refugee backgrounds are a diverse group in many ways, including but not limited to country of origin, culture, religious and/or spiritual affiliation, English language proficiency, migration history, and educational background. The combination of these factors poses a unique set of challenges to their transition to the United States and the higher-education environment. This chapter highlights some of these challenges and explores the growing role of colleges and universities in facilitating educational access and support.